Assets & Operations

Challenger Energy is a full-cycle E&P company with a portfolio of assets in multiple jurisdictions across the Caribbean and South America, targeting significant production growth and cash flow generation by increasing production from its existing fields in Trinidad and Tobago and developing its appraisal and development prospects in Trinidad and Tobago, and Suriname. Challenger Energy  also provides access to high impact exploration in Uruguay, Trinidad and Tobago and The Bahamas.

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Assets & Operations

The Bahamas
  • 5 licences (100%) plus 3 licence applications (100%), all offshore
  • The recently drilled Perseverance #1 well evaluated the potential Albian and Aptian reservoirs of the B North segment of the enormous B structure
  • Licences to be renewed end June 2021 (with 50% relinquishment). Renewed farmout process commenced. ‘Drill or Drop’ by early 2023
Trinidad and Tobago
  • 6 licences (100%), 1 licence (83.8%) -all onshore, close to sales infrastructure
  • c. 400 -450 bopd production base from multiple fields and considerable well stock
  • Production enhancement opportunities from workovers, reactivations & new pumps accessing shallow reservoirs
  • Enhanced sweep efficiency and increased recovery factor via EOR techniques and in-fill wells
  • Discovery at Saffron – Saffron-2 appraisal well and early-stage development
  • Low-cost development options across portfolio
  • Targeting up to 9 Saffron lookalikes form the target of onshore exploration activities following reprocessing of existing. 3D seismic coverage
Suriname
  • 1 onshore licence -Weg Naar Zee PSC (100%)
  • Planning for Extended Well Test (EWT) with realised production able to be sold-success leads to early, low-cost development and reserves adds (24 mmbbl STOIIP)
Uruguay
  • 1 offshore licence OFF-1 (100%); ~15,000 km 2
  • Works by the state-owned authority ANCAP has identified a single prospect (Lenteja) with an estimated resource potential of 1.4 bnbbl
  • Low-cost initial 4-year exploration period

Reserves and Resources:

An independent third-party Competent Person’s Report (CPR) from ERC Equipoise (ERCE) was commissioned to commence the process of establishing a consistent reserves and resources process across the Company’s expanding portfolio of assets and licences. 

The scope of the report focused on existing producing assets in Trinidad and Tobago, and the Company’s Web Naar Zee licence in Suriname, so as to enable the Company to then develop its work programme for 2021 and make appropriate capital allocation decisions.

Summary results from the CPR can be viewed here.

Share Price

26/09/2021

1.50

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