Challenger Energy Group still aiming to complete Uruguay deal this year

–News Direct–

Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) CEO Eytan Uliel speaks to Proactive's Thomas Warner after the Caribbean and Americas-focused oil and gas company announced the successful sale of the non-core Cory Moruga asset license in Trinidad, a deal that required extended negotiations due to government fee adjustments.

Uliel confirms that the transaction aligns with the company's strategy to monetise non-essential assets. Additionally, Uliel shed light on the ongoing negotiations for a farm-in deal in Uruguay, which has garnered significant interest due to the region's exploration potential.

He emphasises the complexity of partnering with large multinational oil companies and the importance of due diligence in such long-term projects. Despite market demands for swift outcomes, Uliel remains confident in achieving a deal by year's end, urging patience as the detailed process unfolds. He says “I've been very very clear to everyone saying that our target is to get a deal out into the market before the end of the year… and now let's see how the rest of the year pans out.”

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