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Challenger Energy Group PLC announced on 10 November 2023 the full repayment of its short-term bridge loan. Part of the proceeds from the completion of the sale of the Cory Moruga licence were applied to this repayment. As a result, the short-term bridge loan has been fully discharged, and the Company is debt-free.
| Date | 10 Nov 2023 |
| Time | 07:00:06 |
| Category | Miscellaneous |
| ID | 9982S |
10 November 2023
Challenger Energy Group PLC
("Challenger Energy" or the "Company")
FULL REPAYMENT OF BRIDGE LOAN
Challenger Energy (AIM: CEG), the Caribbean and Americas focused oil and gas company, with a range of oil production, development, appraisal, and exploration assets in the region, is pleased to advise that consistent with the terms of the short-term bridge loan (as per announcement of 27 October 2023), part of the proceeds from completion of the transaction for the sale of the Cory Moruga licence (as per announcement of 7 November 2023), have been applied to repayment of the bridge loan. Consequently, the short-term bridge loan has been fully discharged resulting in the Company becoming debt-free.
For further information, please contact:
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Challenger Energy Group PLC Eytan Uliel, Chief Executive Officer |
Tel: +44 (0) 1624 647 882 |
|
WH Ireland - Nomad and Joint Broker Antonio Bossi / Darshan Patel / Isaac Hooper |
Tel: +44 (0) 20 7220 1666 |
|
Zeus Capital - Joint Broker Simon Johnson |
Tel: +44 (0) 20 3829 5000
|
|
Gneiss Energy Limited - Financial Adviser Jon Fitzpatrick / Paul Weidman / Doug Rycroft |
Tel: +44 (0) 20 3983 9263 |
|
CAMARCO Billy Clegg / Hugo Liddy / Sam Morris |
Tel: +44 (0) 20 3757 4980 |
Notes to Editors
Challenger Energy is a Caribbean and Americas focused oil and gas company, with a range of oil production, development, appraisal, and exploration assets in the region. The Company's primary assets are located in Uruguay, where the Company holds high impact offshore exploration licences, and in Trinidad and Tobago, where the Company has a number of producing fields and earlier-stage exploration / appraisal projects.
Challenger Energy is quoted on the AIM market of the London Stock Exchange.
ENDS