Challenger Energy now debt-free after bridge loan repayment
By Josh White
Date: Friday 10 Nov 2023
(Sharecast News) - Caribbean and Americas-focussed oil and gas company Challenger Energy announced on Friday that it has retired its short-term bridge loan, under the terms it outlined on 27 October.
The AIM-traded firm said the move followed the recent transaction involving the sale of the Cory Moruga licence, as disclosed on 7 November.
It said the proceeds generated from the sale of the Cory Moruga licence were allocated towards the repayment of the short-term bridge loan.
As a result, Challenger Energy was now completely debt-free.
At 0837 GMT, shares in Challenger Energy Group were down 3.04% at 0.0606p.
Reporting by Josh White for Sharecast.com.
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