Trinidad and Tobago

Overview

Challenger Energy is the operator of three producing fields, and holds two non active fields, all onshore Trinidad. Across these fields there are a total 250 wells, of which approximately 60 are in production at any given time. Within the fields, regular well workover operations are undertaken on the existing production well stock, including well stimulation operations, reperforations, reactivations and repairs to shut-in wells, as and when appropriate. In addition, in June 2023, the Company was nominated as the party with whom the Trinidadian Ministry of Energy and Energy Industries (‘MEEI’) should negotiate the award of Guayaguayare, a precursor step to formal award of the licence.

Assets

Goudron

Challenger Energy owns and operates 100% of the Goudron field by way of an enhanced production service contract (“EPSC”) with Heritage Petroleum Company Limited (“Heritage”), the Trinidadian state-owned oil and gas company. The current term of the EPSC runs until 30 June 2030.

Inniss-Trinity

Challenger owns and operates 100% of the Inniss-Trinity field by way of an incremental production service contract (“IPSC”) with Heritage. The current term of the IPSC runs until 30 September 2031.

SWP

The SWP contains the Icacos producing oilfields and the Perseverance and Columbia nonproducing fields, in which Challenger Energy Group holds a 100% operated interest via a number of private leases covering the Bonasse, Cedros and Icacos licence areas.

Guayaguayare

In June 0223 Challenger was advised by MEEI that the Government of Trinidad has authorised MEEI to enter negotiations with Challenger for the grant of an Exploration and Production (Public Petroleum Licence) for the Guayaguayare block, following a bid for that licence by Challenger as part of the 2022 Onshore and Nearshore Competitive Bid Round. Grant of the licence presently remains subject to negotiation of licence terms with MEEI.