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Challenger Energy Group ( (GB:CEG) ) has shared an update.
Challenger Energy Group has completed the sale of its entire business operations in Trinidad and Tobago to Steeldrum Ventures Group, allowing the company to concentrate on its core assets in Uruguay. The transaction, valued at $1.75 million, involved a change in payment terms to cash instead of shares, and effectively eliminates Challenger’s liabilities in Trinidad and Tobago, enabling a sharper focus on creating near-term value for shareholders in Uruguay.
The most recent analyst rating on (GB:CEG) stock is a Buy with a £0.50 price target. To see the full list of analyst forecasts on Challenger Energy Group stock, see the GB:CEG Stock Forecast page.
More about Challenger Energy Group
Challenger Energy Group is an Atlantic-margin focused energy company with significant operations in Uruguay. The company holds two offshore exploration licenses covering 19,000 square kilometers and is partnered with Chevron on the AREA-OFF 1 block. Challenger Energy is listed on the AIM market of the London Stock Exchange and the OTCQB in the United States.
Average Trading Volume: 338,362
Technical Sentiment Signal: Hold
Current Market Cap: £19.95M
For a thorough assessment of CEG stock, go to TipRanks’ Stock Analysis page.