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Challenger Energy Group ( (GB:CEG) ) has issued an update.
Challenger Energy Group PLC announced that the Uruguayan Ministry of Environment has issued permits for seismic acquisition in Uruguayan territorial waters, specifically for 3D seismic on AREA OFF-1. This development is part of increasing industry interest in Uruguay’s offshore sector and aligns with Challenger’s transformative transaction with Sintana Energy. Additionally, TotalEnergies’ acquisition of a 40% stake in PEL 83 in Namibia marks a significant step in the region’s exploration activities, with plans for an exploration and appraisal campaign. These developments are expected to enhance Challenger’s operational capabilities and market positioning as it integrates with Sintana Energy.
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 PLC is an Atlantic-margin focused energy company with a significant presence in Uruguay, holding two offshore exploration licenses covering 19,000 square kilometers. The company is partnered with Chevron on the AREA-OFF 1 block and is listed on the AIM market of the London Stock Exchange and the OTCQB in the United States.
Average Trading Volume: 656,624
Technical Sentiment Signal: Buy
Current Market Cap: £32.91M
Find detailed analytics on CEG stock on TipRanks’ Stock Analysis page.