Challenger Energy Group PLC Response to Announcement by Predator Oil and Gas (0725O)

TIDMCEG

RNS Number : 0725O

Challenger Energy Group PLC

08 June 2022

8 June 2022

Challenger Energy Group PLC

("Challenger Energy" or the "Company")

Response to Announcement by Predator Oil and Gas Holdings Plc

Challenger Energy (AIM: CEG), the Caribbean and Atlantic-margin focused oil and gas company, with oil production, appraisal, development and exploration assets across the region, notes the announcement issued by Predator Oil and Gas Holdings Plc ("Predator") yesterday regarding its alleged intention to initiate a litigation process regarding the Inniss-Trinity Well Participation Agreement ("WPA") between FRAM Exploration Trinidad Ltd. ("FRAM"), a wholly owned subsidiary of Challenger Energy, and Predator.

FRAM denies that any amount is owing to Predator pursuant to the WPA, and considers the various assertions made by Predator in yesterday's announcement to be devoid of any technical justification or legal basis. Accordingly, FRAM will vigorously defend any legal proceedings should they be issued by Predator, and will seek recovery of any costs incurred by FRAM in doing so.

Further announcements will be made as appropriate.

For further information, please contact:

 
  Challenger Energy Group PLC                 Tel: [phone] 
   Eytan Uliel, Chief Executive Officer        882 
 Strand Hanson Limited - Nomad                Tel: [phone] 
  Rory Murphy / James Spinney / Rob Patrick    3494 
 Arden Partners plc - Broker                  Tel: [phone] 
  Simon Johnson / Antonio Bossi                5900 
 CAMARCO                                      Tel: [phone] 
  Billy Clegg / James Crothers / Hugo          4980 
  Liddy 
 

Notes to Editors

Challenger Energy is a Caribbean and Atlantic margin focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of Uruguay and The Bahamas. In Trinidad and Tobago, Challenger Energy has five (5) producing fields, two (2) appraisal / development projects and a prospective exploration portfolio in the South West Peninsula. In Suriname, Challenger Energy has on onshore appraisal / development project. Challenger Energy's exploration licences in Uruguay, the South West Peninsula of Trinidad, and The Bahamas offer high-impact value exposure within the overall portfolio.

Challenger Energy is quoted on the AIM market of the London Stock Exchange.

https://www.cegplc.com

ENDS

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June 08, 2022 02:01 ET (06:01 GMT)