Share Name Share Symbol Market Type Share ISIN Share Description
Challenger Energy Group Plc LSE:CEG London Ordinary Share IM00BN2RD444 ORD 0.02P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.10 -6.67% 1.40 1,821,044 13:02:00
Bid Price Offer Price High Price Low Price Open Price
1.35 1.45 1.50 1.40 1.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -10.23 -0.37 11
Last Trade Time Trade Type Trade Size Trade Price Currency
16:10:14 O 5,000 1.366 GBX

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27/9/202117:49challenger energy group6,423
09/5/200908:42Education is the future2
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Challenger Energy Daily Update: Challenger Energy Group Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker CEG. The last closing price for Challenger Energy was 1.50p.
Challenger Energy Group Plc has a 4 week average price of 1.10p and a 12 week average price of 1.10p.
The 1 year high share price is 36.55p while the 1 year low share price is currently 1.10p.
There are currently 796,522,914 shares in issue and the average daily traded volume is 2,109,172 shares. The market capitalisation of Challenger Energy Group Plc is £11,151,320.80.
12bn: This is an old RNS of Cerps,note what Cerp was paid by the Trinidad govt,$16 a barrel net back NOT the WTI price.//////RNS Number : 1141L Columbus Energy Resources PLC 04 September 2019 4 September 2019 Columbus Energy Resources Plc ("Columbus", "CERP" or the "Company") Unaudited Interim Results for 6 month period ending 30 June 2019 Focus on profitable growth and preparations for exploration drilling in south west peninsula Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to announce its unaudited Interim Results for the six month period ending 30 June 2019 ("1H 2019" or "the period"), a copy of which will shortly be made available on the Company's website www.columbus-erp.com. 1H 2019 was a period in which the Company prepared for potentially transformational growth in 2H 2019 and into 2020 through the following activities: -- Disciplined cash management and optimisation of cashflow profits from production operations - recognising that the WTI oil price was "stuck" in the US$50-US$60/bbl range for much of 1H, a range which attracts Supplemental Petroleum Tax ("SPT"); -- Preparations for the commencement of drilling in the South West Peninsula ("SWP") in late Q3 2019 - the culmination of many years of commercial negotiations, technical analysis and operational planning to get to this point; -- Technical and commercial preparations for commencement of the CO project on the Inniss-Trinity field in 2H 2019 (in partnership with Predator); and -- Undertaking exclusive negotiations to establish an operational footprint in a South American country which will allow a low-cost entry in 2H 2019 into another onshore jurisdiction - to improve the Company's overall risk profile and commercial position. 1H 2019 Highlights H1 2019 H1 2018 % Change Average realised oil price (US$/bbl) 1 57.60 61.17 (6%) -------- -------- --------- Average production (bopd) 561 485 16% -------- -------- --------- Net Revenues (GBP'000) 2 3,407 3,615 (6%) -------- -------- --------- Gross Profit (GBP'000) 691 429 61% -------- -------- --------- Administrative Expenses (GBP'000) 1,474 1,666 (12%) -------- -------- --------- Capex & Workover Costs (GBP'000) 647 1,030 (37%) -------- -------- --------- Spain - ongoing costs 126 637 (80%) -------- -------- --------- Netback per barrel (US$/bbl) 3 16.72 13.13 27% -------- -------- --------- Cash balance (GBP'000) 1,053 1,800 (41%) -------- -------- --------- Corporate debt @ 30 June (Lind) (GBP'000) 116 402 (71%) -------- -------- --------- Management salaries taken in shares (GBP'000) 248 248 (-%) -------- -------- --------- Notes 1. Realised price: Actual price received for crude oil sales per barrel ("bbl") 2. Net revenues after deduction of royalties and partner oil-take as defined in the IPSC (First Tranche) and other partner agreements 3. Net cash received after revenue and cost of sales by barrel of oil sold Period Highlights For the 6 month Period ending 30 June 2019 FINANCIAL As previously announced, the Company's focus in 1H 2019 was to increase operational profits and cashflow through targeting more profitable barrels and implementing operational efficiencies, instead of growing production "for growth's sake". The Company's workover rig count was reduced and cost reductions introduced to reflect a lower oil price environment. -- Gross profit for period was a profit of GBP691,000 (1H 2018 profit of GBP429,000), an increase of 61% -- Averaged realised sales price from operations in 1H 2019: US$57.60 per barrel (1H 2018: US$61.17 per barrel) -- Net revenue for period of GBP3,407,000 (1H 2018 GBP3,615,000), a reduction of 6% mainly due to lower average oil price achieved (6% lower) -- Pre-tax group loss for period of GBP1,721,000 (1H 2018 loss of GBP2,465,000), the 30% reduction due to cost efficiencies and reductions in Group administrative costs and exceptional costs in Spain -- Cash in hand of GBP1,053,000 at 30 June 2019 (30 June 2018 GBP1,800,000) - reduction reflecting debt repayments, impact of SPT, technical work on SWP and ongoing Spain costs -- Special Petroleum Tax ("SPT") has been payable at the end of each quarter throughout the period as the sales price received has exceeded US$50.00 per barrel with payments of GBP331,000 in 1H 2019 being incurred (1H 2018: GBP240,000) -- Administration expenses for period of GBP1,474,000 (1H 2018 GBP1,666,000) a reduction of 12%, despite the addition of 7 additional management & administrative staff upon the acquisition of Steeldrum in Q4 2018 -- Costs of meeting ongoing obligations in Spain reduced to GBP126,000 in period (1H 2018: GBP637,000). Burn-rate in Spain now down to approximately GBP20,000 per month whilst first stage decommissioning activities are completed. -- Lind loan balance reduced to GBP116,000 at 30 June 2019 (GBP402,000 at 30 June 2018) - corporate loans to be zero by mid-October 2019 -- US$3.25 million Lind facility, announced in July 2018, allowed to lapse in January 2019 without drawdown OPERATIONAL -- Group oil sales in 1H 2019 were 92,154 barrels net to Columbus (1H 2018: 88,830 barrels), a 3.7% increase -- Average production in 1H 2019 was 561 barrels of oil per day ("bopd") with production peaking at 1,019 bopd in February 2019 (1H 2018: 485 bopd, peaking at 648 bopd) -- Solid production base, despite a number of technical challenges, delivering steady cashflow and base for future growth in operational profits -- Netback per barrel of US$16.72 achieved in 1H 2019 (1H 2018: US$13.13 per barrel) -- Workover rig count reduced from three rigs to one during Q1 2019, in keeping with the strategic shift to prioritise profitable barrels -- A second workover rig was purchased from the USA in late Q2 2019, with intent of making the Company self-sufficient in workover rigs (owning a total of 2 workover rigs). This will significantly reduce future workover costs. The second rig will be fully operational in Q3 2019, allowing far more flexible and cost-effective well-work activities between the Company's fields -- Company operational strategy focuses on fields where higher margins are available from production and also where oil sales are paid in US dollars -- Company took over operatorship of the Icacos field from Touchstone Energy on 1 January 2019 -- Company continues to progress the Inniss-Trinity CO project with its partner Predator Oil & Gas Holdings plc ("Predator") and has commenced site preparation activities. South West Peninsula ("SWP") -- Detailed technical work completed during the period by EPI Group, independent geoscience specialists, on the exploration prospectivity of the SWP, allowing the high-grading of the Saffron prospect for drilling in 2H 2019. -- First SWP prospect (Saffron) chosen with commencement of drilling operations planned for late September 2019 - well targeting un-risked STOIIP of 66 mmbbls (Pmean), with a geological chance of success of 45% and potential development recoverable oil volume of 10 mmbbls. -- Currently undertaking the necessary pre-drill activities to commence drilling, subject to receiving relevant Governmental approvals. -- Second SWP prospect (Clove) available for drilling. The Clove prospect has an un-risked STOIIP of 0.21mmbbls (Pmean) and a geological chance of success of 66%. CORPORATE AND M&A -- Company is in exclusive discussions for award of a concession in a South American country, after a successful three-month tender process in Q1 2019. Potential for low-cost entry into a discovered onshore oilfield with a detailed work programme for 2019-2021 submitted as part of the Company's bid. Announcement of new concession forecast for late Q3/early Q4 2019. -- A number of additional M&A opportunities have been considered and investigated during period, consistent with Company's strategy roadmap. -- All management have continued to take 50% of their salaries in Company shares in the second year of their employment, aligning management with shareholders and resulting in cash savings during the period of approximately GBP248,000. OUTLOOK -- The main focus of the Company for 2H 2019 will be: o the commencement of the drilling in the SWP; o the commencement of the Inniss-Trinity CO project; and o announcement of a new country entry. -- Additionally, the Company will to continue discussions with Heritage to renew the Company's Incremental Production Service Contracts, in particular for the Inniss-Trinity field and Goudron field. -- The Company will continue to assess M&A opportunities in other countries in South America and the Caribbean which meet its strict investment criteria. Leo Koot, Executive Chairman on Columbus, commented: "The first half of 2019 has seen Columbus secure its operating base and set itself for a busy second half of the year. The Company expects to bring to fruition a number of projects, in particular the drilling of an exploration well in the South West Peninsula, the commencement of the Inniss-Trinity CO project and announcement of a new country entry. We look forward to an exciting second half of 2019." NOTES
12bn: Cyb3ria - 16 Sep 2021 - 12:38:00 - 5966 of 6237 challenger energy group - CEG fredo aka Buffy, you're very touchy today. I've said before I'd be glad to be proven wrong. So far, you've been on here telling everyone to buy and the share price sentiment is still south. FYI I'm not short CEG. Cyb3ria - 16 Sep 2021 - 11:51:35 - 5958 of 6237 challenger energy group - CEG fredo you'll be 500% down on this stock and flat on your portfolio soon ;p Cyb3ria - 16 Sep 2021 - 10:19:47 - 5953 of 6237 challenger energy group - CEG milanista11, I would like to hope that we are proven wrong in a pessimistic CEG outlook. It would please many holders who are charred. Those that jumped on the back of this charring well good luck and well timed. However, time and again our pessimism has been proved correct. I have no good faith with this BoD that keep saying they have shareholder value in mind and produce the exact opposite. I hope they realize that investors have long memories and they can only cry wolf so many times until they are completely shunned by the investor community in which case it would be better that they retire or find jobs as refuse collectors.
12bn: Cyb3ria - 08 Sep 2021 - 10:48:47 - 5513 of 6231 challenger energy group - CEG Fredo, appreciate that you are invested in what is now called CEG and partisan. However, you have to admit that 100s of investors who were or are still involved with CEG are between 95% to 100% down on their investments. Even after averaging down. Surely, this speaks volumes and explains why many are now highly cynical. You may see this as an opportunity but CEG is consistent in not delivering stated production aims and objectives. Hence, caution is called for and rightly so. CEG has to deliver oil in the 1000s not 100s or even 10s. Cyb3ria - 07 Sep 2021 - 18:18:13 - 5490 of 6231 challenger energy group - CEG Sorry Gents but this a sucker stock. Until CEG, whatever they chose to call themselves, produce the goods as described in their own forecasts instead of running a local petrol pump then folks are just going to watch and laugh.
cyb3ria: 12bn, thank you for your concern. I'm madly hedging CEG with MAY. MAY is exploring oil in Cuban waters and set to drill soon. My view is that the working of CERP assets by CEG is the road that leads to drilling P2 in Bahamas waters. None of this is going to happen tomorrow. The final 2020 and interim 2021 results are expected to be bad and the expectation is what happens going forwards from 2022 onward. Past information is already priced in to the share price including expected 2020 and 2021 accounts. If the share price drops and dependent on what the accounts reveal about 2022 onward some may see it as a bit of an opportunity and others may simply sell and take a hit. What peeps do is a matter for them and not a concern for me.
12bn: Cerp existed for years by issuing shares and so did BPC,my guess is CEG are doing the same,they have the authority to issue up to 750m new shares. The share price now is massively lower than it was in June last year in the merger but since then holders have lost 90% of their shares in the 10:1 consolidation. The market is telling you there is something wrong here Cyb3ria,you have been warned,holding until after the results could/will be a bad move imo.
12bn: Cyb3ria,glad you can read,yes CEG has Cerps old assets and now Cerps costs as well as BPCs costs,the results will be awful imo. If you think CEGs inflated expectations are going to help then you should read some of them in earlier RNSs. The CEG BoD are well known for 'blowing their own trumpet'. You are clutching at straws if you think CEG will attempt another Bahamas drill,they have already said that they are looking for a partner,as they cannot afford another attempt imo. CEG really does not have any redeeming features imo and only exists due to mugs buying its unending supply of shares.
12bn: When it comes to stupid reasons to buy CEG Cyb3rias is nearly as bad as dimtalos reason 'I bought in because the share price had dropped'. Cyb3rias reason is that CEG is an AIM share! You couldn't make such stupidity up,no research by either! Results are out soon and they will be dire imo,this is a suicide share to buy imo. Cerp never made a group profit in all its years of existence and Cegs only income comes from Cerps old assets!!!!! The clock is ticking here,tick tock,tick tock,results get ever nearer.
milanista11: fredo1976 Me and others have repeated it several times: the asset quality of CEG holdings are poor and cannot sustain the overhead of the company. Therefore they keep going with periodic issue of shares. The breaking point will come and no financing is available anymore and than... exitus. Otherwise we are aware that this is a company with a market capitalization of around 10 million GBP and a daily turnover at the stock exchange of 30000 to 50000 GBP. The share price can be pushed up easily by speculators and this is your silver bullet. The long term investors in Cerp and CEG have been burned heavily and some of them are so in shock and despair, they don't realize the cat is dead, and an eventual dead cat bounce doesn't help because they can recoup (on paper) only a small part of their losses and than the dead spiral will resume. For that people who buy the deeps, don't forget to realize an eventual profit before it is too late.
12bn: whoppy14 Sep '21 - 16:21 - 5833 of 5861 0 2 0 What's been going on here? Oil price rebounding. +$70. Revenue 5 months to May 2021, $3.3m Cash end of May 2021 $10.7m Mcap £11m, x 4 annual revenue. Should be x 10 at least. £50m Mcap./////////This is a deliberate attempt to deceive imo. Most of the oil produced by CEG is under IPSC contract with the Trinidad govt and all that CEG receives is a 'net back' payment from them. I will cut n paste the last results of Cerp,which are the nearest figures you can find due to CEGs delays in RNSing its results. I do not know what CEG are getting paid per barrel but $25-$30 is probably in the ballpark as a guess but it was once as low as $16 and it certainly won't be any where near $70!!!!!!
cyb3ria: Most peeps here are 95% plus down. If they have courage they could reduce that number dependent on confidence. Problem is even if you have been averaging down to say 75% down the price keeps falling. So, the strategy is keep averaging down to lower the percentage loss in the hope that some good news will turn this round. The downside is the continual drop in the share price or as they say catch a falling knife. The BoD have to work to turn this round. So, say, you're 95% down and the BoD turn the share price round so that you're 50% down. I think most peeps would be happy to recover some losses especially peeps that have diversified and would have made back the 95% loss elsewhere. A recovery play here would lift some people.
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