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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Challenger Energy Group Plc | CEG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.0025 | -1.67% | 0.1475 | 08:34:39 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.15 | 0.1475 | 0.15 | 0.15 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 22/4/2024 23:53 by arrynillson Bahamarama - this company recently and in its previous guises has offered investors the opportunity to participate in a number of Oil Exploration scenarios most of which have failed.Were the scenarios considered ridiculous at the time they were pursued? The answer to that is no by the shareholders who chose to support it. Were risks highlighted - yes they were! Disgraced Compulsive Liar 12bn has been trolling this share for 10 years on a daily basis, over 40,000 posts - he hates the company and anyone who chooses to buy shares in it - no one knows why! I don’t object to trolling but lying and misleading is not acceptable - it’s also a criminal offence potentially subject to prosecution by the FCA. If you read my post history you’ll come across numerous examples of 12bn lying and misleading in a serious way. Just look at the recent example - he just couldn’t help himself - the Chevron news looked so good he had to try and undermine it and slip in the lie to try and bolster a weak response. 12bn was telling readers here to sell @ 0.065p only weeks before the Chevron announcement on the basis that CEO was taking so long to get a deal it was pretty much certain he would fail - he was clearly wrong. When the Chevron deal is completed CEG will get $12.5 million - a lot of cash for them and a triumph for BOD. They have a 40% interest in a potential drilling opportunity in Uruguay backed by a Super Major. No shareholders are forced to own shares - if they don’t like this opportunity they can sell up - it’s a high risk scenario, COS cannot yet be established but if and when it’s published shareholders can make up their mind whether or not to participate. 12bn sees this in child like terms - the history is failure so that anything the company does in the future will fail. I merely comment on each scenario as it presents itself - I make no apologies for that. I do not encourage people to invest in this share - if you have evidence to the contrary just post it up on here. I came across 12bn around 10 years ago and found him pretty much instantaneously objectionable in both style and substance- I then chose to offer an alternative viewpoint on his thread and took the many opportunities to highlight his lying and misleading- the fact that shareholders would have been better off being invested elsewhere over the last 10 years is no justification for lying and misleading! |
Posted at 18/4/2024 16:52 by jbt2007 12bn, you seem to be confused. This is from your post earlier "at best but if the deal doesn't go through due to bad 3D seismics or the Uruguayan government opposition then CEG are screwed."So as I said the 3D seismics are not relevant to this deal completing, what don't you understand about that? The 3D and drilling is many months/years down the line and again not relevant to current events. If and when we get to that point the share price will be many multiples of where it is today. You are correct I haven't posted since 2021, has there been anything to post about?!! This company should not be confused with any previous incarnations, it is now a very different animal and if you can't get your head round that, it is your problem. This now has serious potential, a long way to go but serious potential. Isn't that all we are interested in as investors, or doesn't that apply to you? Are you invested? I note that you haven't provided a source for government opposition to oil exploration. |
Posted at 18/4/2024 07:50 by 12bn 18 April 2024Challenger Energy Group PLC ("Challenger Energy" or the "Company") STRATEGIC INVESTMENT BY CHARLESTOWN ENERGY Challenger Energy (AIM: CEG), the Atlantic margin focused energy company, is pleased to announce that it has entered into a legally binding term sheet for an investment by Charlestown Energy Partners LLC (together with its affiliates and assignees "Charlestown"). Highlights: · Charlestown will invest £1.5m in the Company, initially in the form of a loan, which upon closing of the AREA OFF-1 farm-out to Chevron and subject to prior completion of an agreed share consolidation shall convert at a fixed price of 0.168 pence per share, being a c. 20% premium to the current share price. This will result in Charlestown holding a c. 8.7% shareholding in Challenger Energy, thus making Charlestown one of the Company's largest shareholders · Charlestown is a New York-based specialist energy investor with a successful track record of making early cornerstone investments in listed exploration companies, most recently as the lead investor in a listed Namibian-focused conjugate margin player · Charlestown Managing Member Mr. Robert Bose to join the Board of the Company · Charlestown's investment ensures the Company's ability to commence technical work on AREA OFF-3 at the earliest opportunity by underpinning the licence requirement to place cash on restricted deposit, ahead of the anticipated completion of the AREA OFF-1 farm-out to Chevron at which time the Company will receive $12.5 million in cash proceeds. Thereafter, Challenger Energy is expected to be fully funded for the foreseeable future, with no need for additional capital, whether equity or debt Eytan Uliel, Chief Executive Officer of Challenger Energy, said: "The strong progress of our business in Uruguay has seen a noted increase in interest from investors familiar with the E&P space who appreciate the value potential of our assets. We are pleased to advise of today's agreement with Charlestown, a specialist energy investor with an enviable track record of successful cornerstone investments in various listed and unlisted E&P companies, including being an early investor in the success story that the Namibian conjugate margin now represents. Charlestown's investment in Challenger Energy will initially be as a loan, but once the Chevron AREA OFF-1 farm-in closes and we have completed a necessary share consolidation that loan will convert at a premium into an approximately 8.7% shareholding, and Charlestown will become a major shareholder in our Company. Charlestown's investment, coupled with our low overhead and the attractive carry arrangements in the Chevron farm-out, puts us in an excellent financial position, with no need for further capital for the foreseeable future. As part of their strategic investment, Charlestown's Managing Member Mr. Robert Bose will be joining our board, and together we will be working to ensure that Challenger Energy provides Charlestown, alongside all shareholders, with the same outstanding return that their investment in the Namibian conjugate margin has". Robert Bose, Charlestown Managing Member, said: "I am very pleased to be joining the Challenger Energy board. Charlestown Energy Partners has been an active investor in global exploration opportunities, including in Namibia where we have developed significant insights into the conjugate margin's opportunity through our exposure to multiple blocks in the Orange and Walvis offshore basins, including PEL83 which is home to the recent multi-billion-barrel light oil discoveries by Galp Energia. We believe over time these results should translate across to the Uruguay conjugate margin. Challenger Energy's unique position in Uruguay, capital strength and upcoming catalysts position the Company for significant growth and value creation over the coming years. We are extremely excited to be part of the Challenger Energy story." About Charlestown: Charlestown is a specialist energy investor that is associated with Charlestown Capital Advisors, a family office founded in New York in 2005. Charlestown has been making investments globally in E&P since 2016 and has been the cornerstone shareholder in Sintana Energy Inc ("Sintana"), a TSX-listed exploration company since 2019. Sintana maintains an indirect interest in a portfolio of exploration licenses in Namibia including in the emerging Orange Basin, where several multi-billion-barrel discoveries have been made by Shell, TotalEnergies and Galp Energia. As a result of its early entry and the subsequent exploration success, Sintana's share price has appreciated more than six-fold in the past two years. Principal Terms: The principal terms of the agreement entered into between Charlestown and Challenger Energy are: · On closing, Charlestown will advance a loan of £1.5m to the Company (the "Loan"). · The Loan will have a maximum term of 12 months. · The Loan will accrue interest at the rate of 1% per month, with all principal and interest to be repaid in full at conclusion of the term, unless repaid earlier. · The Loan will be unsecured. · Funds from the Loan are to be applied by the Company for: o the requirement to place US$500,000 on restricted deposit in support of commencement of work on the newly awarded AREA OFF-3 block, and o general working capital purposes, including, in particular, meeting the Company's funding needs through to completion of the previously announced farm-in by Chevron to the AREA OFF-1 block in Uruguay (the "Chevron Farm-in"). · At any time during its term, either Charlestown or the Company can elect for early repayment of the Loan (plus interest), to be made by way of conversion of the Loan into newly issued ordinary shares in the Company, but only if the following conditions have first been satisfied: o the Chevron Farm-in has completed (this is anticipated once Uruguayan regulatory approvals are finalised, which is expected will be in the next 2-3 months; on completion of the Chevron Farm-in, as previously advised, the Company will receive US$12.5 million in gross cash proceeds); and o the Company's shareholders have approved, and the Company has thereafter undertaken, a share consolidation on the basis of at least 50:1 (this being a necessary requirement to enable Charlestown's share custodian to hold shares in the Company). · Assuming the above-noted conditions are satisfied and the Loan (plus interest) is repaid early in the form of newly issued ordinary shares, those will be issued to Charlestown at a price, on a pre-consolidation basis, of 0.168 pence per share, representing a premium of approximately 20% to the current share price, and ordinary shares would be issued to Charlestown representing an equity interest of approximately 8.7% in the Company. This would have the effect of making Charlestown a major shareholder and cornerstone financial investor in the Company. · The Company will issue warrants to Charlestown in respect of provision of the Loan, valid for 24 months from the date of their issue (which will be on or around financial close of the Charlestown investment), which will entitle Charlestown to subscribe for an additional 105 million ordinary shares in the Company at a subscription price of 0.2 pence per share (pre consolidation). This represents a premium of approximately 45% to the current share price. These warrants, if all exercised, would result in the Company receiving total additional proceeds of approximately £215,000, and would result in Charlestown's shareholding in the Company increasing to approximately 9.5%. · The agreement entered into between Charlestown and the Company is in the form of a legally binding Term Sheet. Completion of the transaction with Charlestown will require the parties to enter into full-form legal documentation by 30 April 2024, with financial close to follow by 15 May 2024 (and with a long-stop date of 31 May 2024). · Following financial close, and so as to facilitate the desired cornerstone investment from Charlestown, the Company will proceed to convene a shareholder meeting for the purposes of proposing a share consolidation. It is expected that documentation will be despatched to shareholders in early June 2024, and with the shareholder meeting to follow approximately four weeks thereafter. Intended Board Appointment Commensurate with the intended long-term cornerstone shareholding in the Company by Charlestown, Mr. Robert Bose will be invited to join the Board. Mr. Bose has been the Managing Member of Charlestown since 2016, having joined Charlestown Capital Advisors as a principal in 2014. Prior, he spent 17 years in the Global Investment Banking Group at the Bank of Nova Scotia, most recently as Managing Director and Head of the Power & Utilities Group, with a specifical focus on the energy and power sectors. Mr. Bose is currently also serving as Chief Executive Officer of Sintana, which as noted represents a significant holding in Charlestown's current portfolio. Mr. Bose has an Honors Degree in Economics from Queen's University in Kingston, Ontario and is a CFA Charterholder. Subject to completion of usual onboarding processes, Mr. Bose's appointment will take effect at such time as funding is advanced by Charleston, anticipated in mid-May 2024. Additional details pertaining to his appointment will be provided at that time. |
Posted at 18/4/2024 07:17 by bigsi2 In this instance the consolidation is a good move - no further capital required and with share price at 4-5p the additional investors (and there is clearly interest) should boost the SP |
Posted at 06/4/2024 18:16 by willec1979 Why all the negativity - the majority of people on here do not seem to be investors, just sad losing trolls with nothing better to do in their sad pathetic lives. |
Posted at 28/3/2024 10:33 by arrynillson Disgraced Compulsive Liar 12bn - I’m not seeing investors who bought in post Super Major Chevron deal asking for pity but anyone taking your advice to sell @ 0.065p days before the announcement you didn’t believe would happen should be be demanding compensation from you! |
Posted at 22/3/2024 15:59 by willec1979 Shame I forgot to act on that arrynilison WHOOPS.Oh well 0.1425p mid with Chervon on Board - I may have the wrong idea, but I will hold for now and maybe add if I can. Once we hit 1p and major investors can invest this will be a couple of pence plus before you know it. Not buying now is ridiculous as in a few months you will never get it this cheap again. |
Posted at 08/3/2024 20:20 by squiresquire While it feuds with ExxonMobil over partnership rights off Guyana, Chevron has completed a deal to buy into Uruguay's nascent offshore sector. The oil industry sees strong potential in geological formations off the coast of Uruguay, and Chevron has placed a substantial bet on its future.Chevron has reached a deal to take a 60 percent operating stake in Challenger Energy's OFF-1 license, about 50 nautical miles off Uruguay. Chevron is paying $12.5 million up front, plus the full cost of a seismic campaign to evaluate the lease area. If the partners decide to drill an exploration well, Chevron will cover half of Challenger's share of the cost. "We firmly believe that AREA OFF-1 holds enormous potential, and this farm-out is strong validation of the high-quality technical work CEG has done to-date," said Challenger CEO Eytan Uliel in a statement. The deal fulfils Challenger's long-term plan to farm out development of OFF-1. The firm still owns 100 percent of the nearby OFF-3 block. Petroleum geologists believe that the formations off Uruguay's coast bear similarity to recent discoveries in a frontier area off Namibia, where TotalEnergies found five billion barrels of oil in its Venus discovery in February 2022. Early investors in Uruguay include APA, YPF, Shell, in addition to Challenger, and a multiparty 3D seismic campaign is expected late this year or early in 2025. Chevron's other major investment in South America's offshore sector has gone less smoothly, though the American supermajor still expects to prevail. ExxonMobil has filed an arbitration case to prevent Hess from selling a crown jewel - its 30 percent non-operating stake in the prolific Stabroek Block off Guyana - to Chevron. Hess' Guyana holdings are a substantial part of the reason that Chevron has offered to buy the firm for $53 billion, and the case may delay the closing of the deal. |
Posted at 05/9/2023 13:09 by 12bn IndustriesMedia Production Company size 11-50 employees Headquarters London Type Privately Held Founded 2016 Specialties Investment Banking, Investor Relations, Financial Reports, Investment Reporting, Fund Managers, Equity, Stock Markets, Research, Analysis, Institutional Investors , Stock Reports, Investing, Investor News, Equity Research, Expert Analysts, Charting and Company Content, Proactive Investors, Reporting, Financial Reporting, investor services, Investment Research, and Research |
Posted at 17/5/2023 08:44 by 12bn Challenger Energy Group PLC17 May 2023 17 May 2023 Reach Challenger Energy Group PLC ("Challenger Energy" or the "Company") PUBLICATION OF EQUITY RESEARCH REPORTS INVESTOR RELATIONS PROGRAM Challenger Energy (AIM: CEG), the Caribbean and Americas focused oil and gas company, with a range of oil production, development, appraisal, and exploration assets, is pleased to provide the following update. Broker Research The Company's joint brokers have both recently published equity research reports on the Company. WH Ireland has published an initiating Equity Research Report on the Company, which is available only to eligible investors via the WH Ireland portal, at hxxps://www.whirelan Zeus Capital has published an updated research note on the Company. This is available only to eligible investors at hxxps://zeuscapital. Investor Relations Program Following the Company's RNS dated 4(th) May 2023, which provided a technical work progress update in relation its Uruguay AREA OFF-1 licence, the Company has engaged in various investor relations activities, which has resulted in a number of recent presentations, media articles and interviews being released by various media houses. A listing of these, as well as details of upcoming investor relations events, is set out in the Appendix to this RNS. |
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