Assets & Operations

Challenger Energy portfolio of assets is located in multiple jurisdictions across the Caribbean and Americas. The Company’s primary focus is on its Uruguay exploration acreage and its Trinidad production business.

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Assets and Operations

Challenger Energy portfolio of assets is located in multiple jurisdictions across the Caribbean and Americas. The Company's primary focus is on its Uruguay exploration acreage and its Trinidad production business.

Uruguay
  • 2 offshore licences; ~28,000 km2. OFF-1 (100%); ~15,000 km2. OFF-3 (100%); ~13,000 km2
  • As a result of technical work program, prospects in AREA OFF-1 have been identified from a range of play types (Teru Teru, Anapero, Lenteja)
  • AREA OFF-1 prospect inventory ~2 billion barrels recoverable resource
  • Forward strategy for AREA OFF-1 is to complete the low cost-minimum work obligations by the end of 2023
  • AREA OFF-3 was awarded in June 2023. Once signed, the licence will provide for a 30-year tenure with the first four-year exploration¬† period commencing on signing
  • ANCAP (the Uruguayan state-owed oil & gas regulator) has identified two material-sized prospects have previously been identified and mapped on AREA OFF-3 (Amalia and Morpheus)
Trinidad
  • 4 onshore producing fields- South Erin, Icacos, Cory Moruga, South-West Peninsula (100%)
  • 1 new exploration asset- Guayaguayare- 306 km2 area in the south-east of Trinidad and the Company’s Goudron field lies within the Guayaguayare block (subject to negotiations and finalisation of licence terms)
  • Focus on the core operations- the Goudron and Innis-Trinity fields in the south-east of Trinidad
  • Also a focus on production and cash flow
Bahamas
  • 4 licences (100%), all offshore
  • A number of structures and drill targets remain prospective across the licence areas
  • Renewal remains pending for a third 3-year exploration period

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22/09/2023

0.05

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