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Challenger Energy (AIM: CEG), the Atlantic-margin focused energy company, with production, appraisal, development and exploration assets across the region, is pleased to announce that it has appointed Stifel Nicholaus Europe Limited ("Stifel") as the Company's Joint Broker, with immediate effect |
Tim - you’d think that Disgraced Compulsive Liar 12bn would read some of the RNS he posts and make himself aware of what’s going on, such as $12.5 million payment from Chevron on completion of deal ( seemingly imminent, from latest RNS ).
Champagne on ice and won’t be opened until cash payment is in bank and most readers/ shareholders understand this but trolls won’t give it up and 10 year veteran 12bn with over 40,000 posts will still be trolling this until the final nail is hammered into his coffin!
He has a filter list longer than Schindler so he claims not to read my posts - why not ask him whether they will have to raise cash soon if they get the $12.5 million? |
Tim,CEG loses money at around £200k a month and so imo it will have to raise cash soon,the share price seems to point to this outcome but we shall see. |
Tim - I have a very similar take on the Trinidad situation. I’m sure the Trinidad production team have a prioritised list of improvements they’d like to make together with the cost/ benefit analysis but clearly capital has been very tight for a long time, that may change after the $12.5 million hits the bank.
CEG suggested that Trinity Inniss field was ripe for some development as the company has its own rig and workovers can yield significant gains in production inexpensively. Greater production improves potential saleability. Additionally PRD are keen to assist with their specialty CO2 EOR. |
In regards to Trinidad operations, the way I read the latest statement is that all options are currently on the table, namely; The company may try to strategically grow the business, or they may ultimately sell the entire thing and exit.
Having the Trinidad operations in a financially stable position, gives the company options; grow the business. Or sell. I think in and of itself this is a good position to be in. |
Posted the above just for a change to usual ` friendly bantering ’ on here! |
 in4cedros
Posts: 5,954
Price: 6.50
No Opinion
RE: Target Price 25pToday 09:59
Interim Results - pretty much as expected I’d suggest. The main focus is , quite rightly, understandably on Uruguay and closure and development of the Chevron deal.
I could lament on the delay as it has taken longer than was originally suggested but sometimes it’s necessary to consider the dynamics in the strength of negotiation positions and practice diplomacy.
I could also lament that I may need to take a new moniker - something catchy like out4cedros LOL as there was new information in the results about that Trinidad license. I don’t have any additional information and hadn’t appreciated the depth of the dispute but it appears the BOD have handled it pragmatically.
I speculate that when CEG receives the $12.5 million they may use a small amount of it to improve the estate in Trinidad because increases in production there exponentially improve field profitability due to the contract incentives in the deal with Trinidad Government.
There have been lots of false dawns regarding plans to increase production in Trinidad so if I was CEO I’d probably proceed and then crow about it if successful. That’s not easy to do if company needs to borrow to finance it or raise from shareholders but spending own cash is more acceptable.
As I say complete speculation on my part and I’m happy for Trinidad to be a back burner as it’s not in same league as Uruguay for potential but most people are well aware of Uruguay opportunity hence my comment on Trinidad just for background and because it got more than a mention in the results.
ATB shareholders! |
arrynillson30 Sep '24 - 11:02 - 21678 of 21684 Edit
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Post 21675 from 12bn ` /// IF the decision to drill is made.........not certain it seems and only $20m covered......where will the rest come from? This company is still a loss maker. ’
Disgraced Compulsive Liar 12bn you are really showing your ignorance here - only a fool would commit to drilling without doing the necessary research - that’s why Chevron are paying for more seismic!
Moving on from that if drilling is agreed CEG have 40% interest and the CEO has already mentioned that if they don’t wish to fully fund their part they have option to sell part interest which may, depending on any deal, give them free carry!
Sorry to disappoint you - important not to mislead Isn’t it 12bn ? |
Disgraced Compulsive Liar 12bn - difficult to determine your real motivation but you’ve been trolling here for more than a decade and 40,000 posts.
Trolling is acceptable and readers can agree or disagree with your sentiments but lying and misleading is certainly not acceptable and smacks of desperation! |
12bn - 19 Sep 2024 - 09:16:27 - 21637 of 21683 challenger energy group - CEG
You sound upset BigLiar2,could it be because you are losing BIG time here on your recent buys?////////12bn - 20 Aug 2024 - 13:25:25 - 21611 of 21625 challenger energy group - CEG
You wouldn't be trying to promote your own losing position would you BIGLIAR2? Your buys at 0.19p,0.165p,0.155p and 0.142p look pretty poor imo. (6p is equal to 0.12p pre the consolidation! What an idiot).//////// The fool now calls me desperate but as I have no holding here and don't intend to have one what on earth have I to be desperate about? BigLIAR2 sounds more stupid than ever! PMSL :) |
Eytan Uliel, Chief Executive Officer, will be speaking on the "Global E&P Hotspots: The Americas" panel, where he'll discuss the Company's key assets in Uruguay, and the outlook for exploration in the region more broadly. This will take place at 4:30pm -5:30pm on 1st October 2024.He will be speaking alongside ANCAP (Uruguay's national oil company and sector regulator) President Alejandro Stipanicic, and Oil & Gas Corporation of Newfoundland and Labrador Chief Executive Officer, Jim Keating, amongst other key players. |
More buys than sells, but irrelevant as very low volume traded today so far. |
How sad.
Poor little love.
God bless. |
Obsessive and Now increasingly DESPERATE- |
Post 21675 from 12bn ` /// IF the decision to drill is made.........not certain it seems and only $20m covered......where will the rest come from? This company is still a loss maker. ’
Disgraced Compulsive Liar 12bn you are really showing your ignorance here - only a fool would commit to drilling without doing the necessary research - that’s why Chevron are paying for more seismic!
Moving on from that if drilling is agreed CEG have 40% interest and the CEO has already mentioned that if they don’t wish to fully fund their part they have option to sell part interest which may, depending on any deal, give them free carry!
Sorry to disappoint you - important not to mislead Isn’t it 12bn ? |
Disgraced Compulsive Liar 12bn - only a fool would have expected those Interim results to significantly impact the market!
Sorry for your disappointment 12!
Following ANCAP approval not too much longer to wait for the $12.5 million cash from Chevron! |
The market seems very unimpressed with these results! :) |
if the decision is made to proceed to drilling of an initial exploration well, will carry 50% of the Company's share of costs associated with that well (up to a total net cash value to the Company of US$20 million).//////// IF the decision to drill is made.........not certain it seems and only $20m covered......where will the rest come from? This company is still a loss maker. |
The Company has a robust track record in this regard, having raised in excess of US$100 million in equity and alternative financing in the recent past./////// Where is this cash? |
You sound upset BigLiar2,could it be because you are losing BIG time here on your recent buys?////////12bn - 20 Aug 2024 - 13:25:25 - 21611 of 21625 challenger energy group - CEG
You wouldn't be trying to promote your own losing position would you BIGLIAR2? Your buys at 0.19p,0.165p,0.155p and 0.142p look pretty poor imo. (6p is equal to 0.12p pre the consolidation! What an idiot). |
So - plenty of cash available as of June24 and corporate burn now down to $180k PCM - 12.5m incoming IMMINENTLY-Should silence the obsessive moron -All looking very positive here - |
As noted, we will be looking to replicate our AREA OFF-1 farmout success for AREA OFF-3, with a process that we expect will commence by mid-2025, and with the goal being to secure a partner for AREA OFF-3 during 2025/early 2026, and exploration well drilling thereafter. |
we are already working closely with our new partner in anticipation of the transition, as well as assisting Chevron as they plan for upcoming activity on AREA OFF-1. We share a common goal with Chevron, which is to see a 3D seismic campaign commence in the next available shoot window (H1 2025), because it is this activity, and subsequent well drilling, which we believe will ultimately realise the considerable upside value we see in this asset |
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