Challenger Energy Group is the 100% holder of four conjoined exploration licences offshore The Bahamas. The Perserverance-1 well was drilled in the licence area in early 2021, and did not result in a commercial discovery at the drill location. However, a number of other structures and drill targets remain prospective across the licence areas, and the technical findings from Perseverance-1 indicate the potential of deeper Jurassic horizons.
In March 2021, CEG notified the Government of The Bahamas of its intent to renew the licences into a third 3-year exploration period- this renewal remains pending, and the Group is engaging with the Government on the renewal process. At the same time, CEG is engaging with the Government and various third-party consultants on a joint initiative seeking to monetise the asset via an alternative approach based around carbon credits.
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Interim Financial Statements to 30 June 2023
2022 Annual Report and Financial Statements
Interim Financial Statements to 30 June 2022
2021 Annual Report and Financial Statements
Interim Financial Statements to 30 June 2021