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Https://www.energy-pedia.com/news/uruguay/challenger-energy-provides-update-on-the-area-off-1-block-offshore-uruguay-191635

A. Volumetric Assessment

A volumetric assessment of the the three primary prospects identified on the AREA OFF-1 block (Teru Teru, Anapero and Lenteja) has now been completed. This assessment has indicated:

a total Oil in Place (OIP) of ~ 6.5 billion barrels of oil equivalent (BBOE) across all three prospects (Pmean, unrisked), and over 16 BBOE in an upside case (P10, unrisked)

a total Estimated Ultimate Recoverable resource (EUR) of ~ 2.0 billion BBOE across all three prospects (Pmean, unrisked), and over 4.9 BBOE in an upside case (P10, unrisked).

Https://energycouncil.com/articles/uruguay-focused-independent-upbeat-on-farm-in-deal/

Uliel attributed much of the interest in the licence to ongoing exploration success offshore Namibia, where the geology is the direct conjugate of that off the coast of Uruguay. Additionally, there is “a body of technical work” that “adds quite a bit of value” to the licence, he continued. Challenger accelerated its work programme earlier this year, which included the reprocessing of existing 2D seismic data and AVO analysis, with the result that “we have identified three very sizeable prospects on the licence… two of which are supported by AVO”. Preliminary estimates suggest there is “around 2bn bl of resource potential across those three prospects”, continued the CEO. “We wanted to establish that these prospects are globally relevant… [the resource potential is] of interest not just to us, but to all of the major companies out there,” said Uliel.

More posts from people not invested here or have any reasons to be here unless there is some sort of agenda behind their negative and trashing posts,

Interesting indeed

All surrounding licenses taken up by majors, thats your clue that majors will be all over CEG's AREA OFF - 1 license which has potential multi billion barrels and maybe one of the most attractive licenses, If succesful they have AREA OFF - 3 for added bonus

Will a major FARM in here, Yes 100%, Will the FARM out happen yes 100%

Current market CAP is basically given away these shares, some people holding on to simon potters BPC, you will never succeed in everything or fail on everything,

This has got nothing to do with management or luck this has the license that all majors will want simple maths, do your own research, This will now start moving

The clue is there, Strange time to call an AGM, and at short notice,

Believe we maybe getting Drill rig news with possible drill dates attached

or the volumetrics way over then expected

Something big enough is about to land

10p next RNS

Next stop 6p all aboard or get left behind,

Farm out next month -worst case gets delayed by month or so, but its happening, Wouldn't be surprised if SHELL or TOTAL have run to them after their giant finds in NAMIBIA, knowing this is connected,

Excuse the typo on last thread,

Seen alot of talk on how much this is worth, I can say this is clearly worth right now 0.40-0.50 4 bags from here knowing what CEG has on its license and the fact the surrounding licenses have been snapped up by giants, and farm out process has been running for 6 months now,

Once deal is done its worth 1p thats 100m MCAP which is not even alot for what the target is 2b plus oil, could be a bigger find, Majors are looking at this, That alone says alot,

Go round some of the oil stock on AIM and they are sitting way way more then their MCAP and what they are worth,

Dont be surprised to see large rises from now on, As people start to look into this and realise how big the prize is compared to the current share price,

Https://www.proactiveinvestors.co.uk/companies/news/1032907/challenger-energy-discusses-asset-sales-in-trinidad-and-deals-in-uruguay-icymi-1032907.html?rel=scroll

If the directors get ousted which is probably for the best as they have properly fddd this company to the ground and probably will end of delisting,

New directors will come in and consolidate and raise serious cash here and will dilute everyone to a new low, Nothing is going to get better here but once this all happens then it maybe a good buy depending where they plan to take this company

anyone holding on is crackers

How many more trials still left on this cancer drug, Assuming another couple of years beofre its signed off or sold?

Shamballs89 one for you from rns 30 oct

Bolhassan Di, Upland Chairman and CEO commented:

"The Company's full focus is on the SK334 PSC and developing the asset. The Upland team have spent many years working to progress Block SK334 in Sarawak

The interest will slowly start building here and I do see it at 1.2p in the first week of December awaiting farm out news, end of week this is likely to be above 0.8p,

So end of year easy 6p on drill rig secured, easy money cant see why this aint 4p already peeps start buying lol, But imagine once they start drilling away making discoveries next year, this is one crazy share not to be in

Farm in here will easily 10 bag the share price and believe this is easily a fair price at 1p considering the prize here, also add on their second license if the partners make a discovery easy time in,

This may be the turning point and start for Eytan to prove himself and I believe he will and all will be forgotten,

Uruguay is a different game and we have large majors already snapping up licenses

cant believe the share price hasn't taken off yet, Market doesnt believe Eytan or else this would be sitting at 0.50 by now but if he delivers people will regret

Well from the last interview by the CEO couple f weeks back he still remains confient that he will get a farm in by end of year, I really do believe with what has happened with this company as BPC in the past they will be now treading carefully not to anger any more investors or they will be finished in this game for good,

Eytan was very confident but knew things could slip but I do believe he has firm indication from a partner this will happen but time line is something he cannot put down for definite but he sound positive for a year end deal, worst case runs for another month or two,

Where do you guys see the share price on rig secured and drill dates?

Anyone positive towards a stock is invested

Anyone negative towards a stock has a agenda - Ignore - report - dont continue with their waffle