TIDMCEG

RNS Number : 9982S

Challenger Energy Group PLC

10 November 2023

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:

 
 Challenger Energy Group PLC              Tel: +44 (0) 1624 647 
  Eytan Uliel, Chief Executive Officer     882 
 WH Ireland - Nomad and Joint Broker      Tel: +44 (0) 20 7220 
  Antonio Bossi / Darshan Patel / Isaac    1666 
  Hooper 
 Zeus Capital - Joint Broker              Tel: +44 (0) 20 3829 
  Simon Johnson                            5000 
 Gneiss Energy Limited - Financial        Tel: +44 (0) 20 3983 
  Adviser                                  9263 
  Jon Fitzpatrick / Paul Weidman / Doug 
  Rycroft 
 CAMARCO                                  Tel: +44 (0) 20 3757 
  Billy Clegg / Hugo Liddy / Sam Morris    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.

https://www.cegplc.com

ENDS

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MSCDZMGMVLRGFZM

(END) Dow Jones Newswires

November 10, 2023 02:00 ET (07:00 GMT)

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