Challenger Energy Group (LSE:CEG) has completed the sale of its Trinidad and Tobago operations to Steeldrum Ventures Group, marking a strategic step toward sharpening its focus on Uruguay. The deal, worth $1.75 million, was revised so that payment will be made in cash rather than shares. With the transaction closing, the company has also shed its liabilities in Trinidad and Tobago, positioning itself to concentrate on unlocking near-term value for shareholders through its Uruguayan ventures.
About Challenger Energy Group
Challenger Energy is an exploration and development company targeting energy opportunities along the Atlantic margin, with Uruguay at the center of its current portfolio. The firm controls two offshore exploration licenses covering roughly 19,000 square kilometers and maintains a partnership with Chevron on the AREA-OFF 1 block. Challenger Energy’s shares trade on the London Stock Exchange’s AIM market and on the OTCQB in the United States.
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