Challenger Energy CEO discusses Uruguay projects; says Area OFF-1 is progressing as planned

Proactive - Interviews for investors

Challenger Energy Group PLC (AIM:CEG, OTCQB:BSHPF) CEO Eytan Uliel takes Proactive's Stephen Gunnion through the progress in the company's Area OFF-1 and Area OFF-3 projects in Uruguay. Uliel explained that the environmental permitting process for Area OFF-1 is advancing as planned. He noted, “Public consultations almost complete, leading to a permit, leading to the operators being able to contract with the seismic vendors.” The company expects the 3D seismic acquisition, operated by Chevron, to commence by year-end. Regarding Area OFF-3, Challenger Energy remains the 100% owner and operator. The reprocessing of historic 3D seismic data is complete, and Uliel highlighted that the team is currently working on AVO attribute analysis and volumetrics. A new prospect in Area OFF-3, named Benteveo, has been identified. Uliel emphasised that while early, the technical data is promising enough to justify licensing additional 2D seismic data to extend the evaluation. This analysis will feed into a complete technical update expected before the company launches a formal farm-out process in early September. Uliel concluded by reaffirming that timelines are on track and results so far have been encouraging, without any material delays. For more interviews like this, visit Proactive’s YouTube channel. Don’t forget to like this video, subscribe, and enable notifications to stay updated on future content. #ChallengerEnergy #Uruguay #3DSeismic #EnergyExploration #Energy #Exploration #OFF1 #OFF3 #Chevron #OilAndGas #BenteveoProspect #EnergyInvestment