Challenger Energy Share Discussion Threads

[arrynillson] 07/5/2024 07:31

12bn7 May '24 - 07:08 - 21281 of 21283
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Is Charleston converting and selling off big chunks?

Disgraced Compulsive Liar 12bn - more misleading from you - I have cut n pasted from the recent RNS dealing with Charlestown loan ( pity you are unable to comprehend your own posts! ( your post 21093!!! ) . Here are some of the conditions - need I say more !

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

[bigsi2] 07/5/2024 07:18

· The Company also advises that the regulatory approval process for the farm-out of a 60% interest in the AREA OFF-1 licence, offshore Uruguay, to a subsidiary of Chevron is progressing in accordance with expectations (refer to the Company's RNS of 6 March 2024 March6 -Completion and financial close of the Transaction will be subject to the satisfaction of conditions precedent and customary third-party approvals from the Uruguayan regulatory authorities, which are anticipated to take several months to finalise - the parties have commenced engagement with the regulators. So CEG is already 2 months in to a "several" month process

[bigsi2] 07/5/2024 07:09

7 May 2024Challenger Energy Group PLC ("Challenger Energy" or the "Company") UPDATE ON STRATEGIC INVESTMENT BY CHARLESTOWN ENERGYAND CHEVRON FARM-OUT APPROVAL PROCESSChallenger Energy (AIM: CEG), the Atlantic margin focused energy company, is pleased to announce (as foreshadowed in the Company's RNS of 18 April 2024) that it has entered into long-form legal documentation to give effect to the term sheet for an investment in the Company by Charlestown Energy Partners LLC (together with its affiliates and assignees "Charlestown"). Accordingly, Charlestown will advance a £1.5m loan to the Company on or about 22 May 2024, on terms and conditions as previously announced. The Company also advises that the regulatory approval process for the farm-out of a 60% interest in the AREA OFF-1 licence, offshore Uruguay, to a subsidiary of Chevron is progressing in accordance with expectations (refer to the Company's RNS of 6 March 2024). Upon closing of the farm-out, Challenger Energy will receive $12.5 million in cash and (subject to prior completion of an agreed share consolidation) the Charlestown loan shall convert into new ordinary shares in the Company, on a basis which will result in Charlestown holding a c. 8.7% shareholding, and thus making Charlestown one of the Company's largest shareholders. Further announcements will be made as appropriate

[12bn] 07/5/2024 07:08

Is Charleston converting and selling off big chunks?

[arrynillson] 06/5/2024 09:40

arrynillson1 May '24 - 13:00 - 21251 of 21279 Edit
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Disgraced Compulsive Liar 12bn - you’ve mentioned you look at the LSE board - presumably you’ve seen the post from In4cedros which totally demolished you on the subject of your latest lie - at least you’ve decided not to regurgitate that one, for the moment!

Getting back to your latest troll line you’re bothered about results arriving - you’re probably the only troll stupid enough to consider that relevant- you’ve quoted monthly losses, which the CEO told us about, so they’ll be no surprise to anyone else!

The results, from a financial viewpoint, will largely relate to Trinidad, whereas the major attention, for most observers, is Uruguay, where CEO has successfully negotiated a spectacular deal with Chevron that, when rubber stamped, will result in a $12.5 million payment to CEG - that will cover many years of $200, 000 per month G&A!

No one knows how long exactly ‘ several months ‘ will be for Uruguay Government approval but I doubt delay will be lengthy as it appears to all that Uruguay wants to encourage rather than discourage this activity!

I feel a bit sorry for you that your trolling is so pathetic because of all the good news - can’t blame you for taking the day off yesterday but it doesn’t seem to have helped with inspiration 12bn!

[iceagefarmer] 05/5/2024 16:11

big boom here soon..stopped taking spread bets

[arrynillson] 05/5/2024 08:05

The long sobs of the violins… Fill my heart with a monotonous languor.

[blueeagle7] 04/5/2024 10:59

Nasty double top on the chart

[willec1979] 03/5/2024 17:00

12bn and b00mboy are pathetically sad creatures.

[b00mb0y] 03/5/2024 16:07

To wind you up willeck. I’m quite enjoying it. Haha

[willec1979] 03/5/2024 13:54

Price in earlier auction now filled - ready to rise!!!

[12bn] 03/5/2024 12:33

Oh dear,down again TIMBERRRRRRRRRRRRRRRRRRRRRRrrrrrrrrrrrrrrrrrrrr. Is Charleston converting and selling off big chunks?

[arrynillson] 03/5/2024 08:50

Disgraced Compulsive Liar 12bn - more misleading from you - I have cut n pasted from the recent RNS dealing with Charlestown loan ( pity you are unable to comprehend your own posts! ( your post 21093!!! ) . Here are some of the conditions - need I say more !

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

[12bn] 03/5/2024 08:07

Has Charleston converted some of the debt to shares and sold them into the open market? If it has then the loan is just another 'death spiral' loan with new shares dumped into the market at lower and lower prices. The folk who suffer are the holders who see their investment spiral down in value as each tranche is absorbed. This has been done before by CEG/CERP and imo it could be happening again,we shall see.

[12bn] 02/5/2024 16:43

Wow,a 50m sell,that could make tomorrow interesting. Does somebody have some inside info or is CEGs lender up to something?////////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,