In this investor presentation, CEO Eytan Uliel and Uruguay Managing Director Randy Hiscock walk through Challenger Energy Group (LON:CEG) just-completed technical evaluation of AREA OFF-3 offshore Uruguay, and the results are game-changing. The updated 3D seismic data has identified two primary prospects, Benteveo and Amalia, with an estimated combined Pmean of ~380 million barrels recoverable and an upside scenario of ~980 million barrels.
With shallow water and development-friendly reservoir depths, even modest discoveries would be commercially viable. A farm-out process is now underway as Challenger looks to accelerate momentum in one of the world’s most overlooked emerging basins.
Challenger Energy Group Plc is an oil and gas exploration company focused on the Caribbean and Atlantic margins, with a growing footprint in high-impact offshore Uruguay.
