RNS- No Rush....14 Dec 2023 07:13
Eytan Uliel, Chief Executive Officer of Challenger said:
"This week has been extremely significant for the emerging Uruguayan offshore exploration sector, and highlights how exciting we think the next few years will be. Challenger has now completed AREA OFF-1's minimum work programme, well ahead of schedule. At the same time, the finalisation of contracts with global industry heavyweights for multiple offshore blocks has defined Uruguay's operator landscape, provided certainty as to their upcoming, substantial exploration programmes, and has also laid out the pathway to a potential 3D seismic shoot in late 2024 / early 2025, including coverage of prospects of interest on AREA OFF-1. These are all important commercial, technical and operational inputs relevant to our ongoing AREA OFF-1 farm-in process which, given developments this week, we now expect to be able to successfully conclude in the first quarter of 2024."