Challenger Energy Group (CEG)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.54p
   
  • Change Today:
    -0.010p
  • 52 Week High: 24.80
  • 52 Week Low: 0.50
  • Currency: UK Pounds
  • Shares Issued: 796.52m
  • Volume: 793,153
  • Market Cap: £4.30m
  • RiskGrade: 73
  • Beta: 0.81

Bahamas Petroleum makes progress in Bahamas and Uruguay

By Josh White

Date: Wednesday 24 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Caribbean and Atlantic-focussed oil and gas company Bahamas Petroleum (BPC) updated the market on its high-impact exploration assets in the Bahamas and Uruguay on Wednesday, reporting that since it completed drilling on Perseverance #1, it had held discussions with industry counterparties over a potential farm-out of its licences in the Bahamas.
The AIM-traded firm said it was working to formalise an "entirely new" farm-out process, and as a result, it was intending to renew the four southern licences in the Bahamas into a third, three-year 'drill or drop' exploration period.

It said the final cost of drilling at Perseverance #1 was expected to be about $45m, compared to its pre-drill estimate of $35m, with additional costs of $10m said to be the result of heightened Covid-19 procedures of $3m, and side-tracking operations related to mechanical debris in the well of $7m.

In Uruguay, a formal contract execution for the Off-1 block was expected in the second quarter, with independent technical work undertaken by the national oil company ANCAP indicating a P50 estimated ultimate recovery volume of 1.34 billion barrels at the Lenteja prospect.

Bahamas said it had around $13m of cash on hand as at 1 March, including unconditionally committed convertible notes.

It expected additional capital requirements in 2021-2022 across the business of between $25m and $40m.

"The company expects to more than cover the difference from various potential funding sources," the board said in its statement.

At 1237 GMT, shares in Bahamas Petroleum were down 3.11% at 0.48p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CEG Market Data

Currency UK Pounds
Share Price 0.54p
Change Today -0.010p
% Change -1.82 %
52 Week High 24.80
52 Week Low 0.50
Volume 793,153
Shares Issued 796.52m
Market Cap £4.30m
Beta 0.81
RiskGrade 73

CEG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
49.08% above the market average49.08% above the market average49.08% above the market average49.08% above the market average49.08% above the market average
68.42% above the sector average68.42% above the sector average68.42% above the sector average68.42% above the sector average68.42% above the sector average
Price Trend
99.9% below the market average99.9% below the market average99.9% below the market average99.9% below the market average99.9% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CEG Dividends

No dividends found

Trades for 02-Dec-2021

Time Volume / Share Price
15:27 11,000 @ 0.53p
14:58 45 @ 0.53p
14:54 5,000 @ 0.53p
14:36 93,797 @ 0.53p
14:26 7,780 @ 0.53p

CEG Key Personnel

CEO Eytan Uliel

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