Challenger Energy now debt-free after bridge loan repayment
Challenger Energy Group
5.80p
16:55 04/11/24
0.87%
0.05p
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.
FTSE AIM All-Share
735.97
08:15 05/11/24
n/a
n/a
Oil & Gas Producers
8,104.00
08:15 05/11/24
-0.13%
-10.84
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.