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On 27 October 2025, Challenger Energy Group PLC (CEG) provided an AIM Rule 17 Schedule 2(g) update concerning directorships of its non-executive directors. Iain McKendrick's previous company, Prax Exploration and Production PLC, entered administration on 29 September 2025 and was sold to Serica Energy PLC on the same day. Stephen Bizzell and Eytan Uliel's previous company, Armour Energy Limited and its subsidiaries, entered administration from 10 November 2023, with a final liquidation report on 15 September 2025 showing A$31.6 million in unsecured creditor claims with no distribution.
| Date | 27 Oct 2025 |
| Time | 17:30:00 |
| Category | Miscellaneous |
| ID | 9812E |
27 October 2025
Challenger Energy Group PLC
AIM Rule 17 Schedule 2(g) Update
Challenger Energy Group PLC (AIM:CEG, OTCQB:BSHPF) ("Challenger" or "the Company"), discloses the following information pursuant to Rule 17 and Schedule 2, Paragraph (g) of the AIM Rules for Companies.
Prax Exploration and Production PLC ("Prax"), a U.K. incorporated company of which Iain McKendrick was a non-executive director, was placed into administration on 29 September 2025, and on the same day a sale of Prax was announced to Serica Energy PLC. The administration of Prax related to the sale transaction, which is expected to close in December 2025.
Armour Energy Limited ("Armour"), an Australian incorporated company of which Stephen Bizzell and Eytan Uliel were non-executive directors, was placed into administration on 10 November 2023, along with several subsidiary entities of Armour of which Stephen Bizzell and Eytan Uliel were also non-executive directors, being Armour Energy (Surat Basin) Pty Ltd, Armour Energy (Victoria) Pty Ltd, McArthur Oil and Gas Limited and McArthur NT Pty Ltd. Subsequently, on 22 January 2024, Armour Energy (Surat Basin) Pty Ltd and Armour Energy (Victoria) Pty Ltd were sold under a Deed of Company Arrangement and exited administration, and the remaining entities, being Armour Energy Limited, McArthur Oil and Gas Limited and McArthur NT Pty Ltd, were placed into receivership, with a final report on the liquidation of these entities issued on 15th September 2025. Unsecured creditor claims, almost entirely from Armour's majority shareholder (DGR Global Limited) following a sale of Armour's operating business, totalled approximately A$31.6m; no distribution was made to unsecured creditors. For further information: https://www.mcgrathnicol.com/creditors/armour-energy-group/
For further information, please contact:
|
Challenger Energy Group PLC Eytan Uliel, Chief Executive Officer |
Tel: +44 (0) 1624 647 882 |
|
Zeus - Nomad and Joint Broker James Joyce/James Bavister |
Tel: +44 (0) 20 3829 5000 |
|
Stifel - Joint Broker Ashton Clanfield / Callum Stewart / Simon Mensley |
Tel: +44 (0) 20 7710 7600
|
|
Gneiss Energy Limited - Financial Adviser Jon Fitzpatrick / Paul Weidman |
Tel: +44 (0) 20 3983 9263 |
|
CAMARCO - Financial PR Billy Clegg / Georgia Edmonds / Emily Hall |
Tel: +44 (0) 20 3757 4980 |
|
Jonathan Paterson - Investor Relations |
Tel: +1 475 477 9401 |
Notes to Editors
Challenger Energy is an Atlantic-margin focused energy company, with a current high-impact position in Uruguay, where the Company holds two offshore exploration licences, totalling 19,000km2 (gross) and is partnered with Chevron on the AREA-OFF 1 block. Challenger Energy is quoted on the AIM market of the London Stock Exchange and the OTCQB in the United States.
ENDS