Challenger Energy Group (GB:CEG) has released an update.
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Challenger Energy Group has completed a significant farmout deal with Chevron, resulting in the issuance of new shares and options, signaling a robust financial standing with no debt obligations. The strategic move involves converting a loan from Charlestown Energy into shares and compensating service providers and the CEO with shares, reflecting confidence in the company’s prospects. With a strong balance sheet and clear growth opportunities, Challenger Energy is poised to enhance shareholder value.
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