Member Info for willec

Chief Executive Officer Eytan Uliel says: "With the licence formally signed, we are now able to begin pushing ahead with our initial low-cost work program. At the same time, over the remainder of 2022 and into 2023 we will explore partnering options that could lead to an accelerated work program - the object being to quickly and fully evaluate the licence's potential, and to thereby create what we hope will be an opportunity of great value to shareholders."

Why would billionairres be investing here if we were not going places - just ask yourself. Eytan is turning this company around and with a lot to come this time next year we will be in such a good position.

I remember last year derampers, ie. this chat room saying this company would be gone by now - far from it Eytan turning it around, high oil prices, debt free, profit in Trinidad and more to come.

With all the recent TR1s and billionairres investing looks good.

Question = Why would billionairres be interested if the company is going nowhere or going bust, they would not. Because they are says great future ahead.

Any prat who thinks otherwise sell up and move on

Everytime this drops just buy more - my target is 37p which should be achievable as December 2020 we hit 30p and are in a much better position now with no debt and oil being produced.

At the end of the day it probably won't matter with World War III on the horizon

Starchild, I am just ignoring these losers and eventually get out at c70p and I will be happy. Just wait and be patient and forget these losers

Look at this: 'Primed for growth'

https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2022/03/24084959/CEG-Presentation_WebsiteMar2022.pdf

One thing I don't understand, why are you all here and if it is because you hold then when are you so desperate for CEG plc to go bust?

Just idiotic at all levels

Read this:

https://www.proactiveinvestors.co.uk/companies/news/977584/challenger-energy-eyes-growing-production-and-cashflows-amidst-higher-oil-prices-977584.html?viewSource=TwitterUK

How the F do you know what I have or have not you idiot ZagEgypt

FFS ZagEgypt how would I know that you pilluck

· Given the current strong oil price environment, the Trinidad business unit is profitable at current production levels of 350 to 400 bopd

· Near-term upside potential from production enhancing work presently underway, that is aiming to boost production, with resulting cashflow benefits

· Balance of the 2022 work programme being finalised, including infill drilling and EOR programs in Trinidad and pilot well testing in Suriname, in support of further increasing production and cashflow

· Appointed new Country Head in Trinidad with robust technical and production management expertise

· Company to enter Q2 2022 substantially debt free and with cash reserves available to support ongoing operations and investment in the planned production growth focused work programme

Why? We are almost debt free and the rest of the year will be production with a oil price above $114pb the only way in up

https://www.youtube.com/watch?v=vjD3EVC1-zU

After 9:15hrs sell = under £1 and look at all those other BUYS. Starting Next week we enter a new production era watch the sp increase, esp with oil over $111pb and the continuing war will benefit the price rising thus helping CEG shareholders as the company produces and sells oil over the next 2 years. GOOD TIMES AHEAD

The Company has successfully completed a recapitalisation fundraising as part of a broader corporate restructuring exercise, and subject to Shareholder approval at the EGM will have raised gross proceeds of approximately £7.3 million:

1. approximately £5.0 million via a Placing with institutional and other investors (of this amount, the Company has already received approximately £0.7 million via a Firm Placing pursuant to existing share issuance authorities in place, with receipt of the remainder conditional on Shareholders' approval at the EGM), and

2. approximately £2.3 million from existing shareholders via a Broker Option, with receipt of funds conditional on Shareholders' approval at the EGM.

3. Successful completion of the corporate restructuring and fundraising will finalise the process of "cleaning- up" the Company's balance sheet, as well as repositioning the Company to pursue a future business strategy centred on production and cash flow growth. In particular, the funds raised will:

4. allow final payments as per agreed creditor settlement arrangements, thereby resulting in previously reported balance sheet liabilities of approximately US$23 million being reduced to approximately US$2.5 million, and

5. facilitate an active, low-risk work program in 2022 and 2023 focused on production growth, with a target of increasing production from c. 400 bopd to over 1,000 bopd by 2024, as well as pursuing production focused growth and inorganic growth opportunities

2022 - 2024 we will produce and produce in Trinidad and in actually fact the war is helping us as it will increase the price of oil further, currently at $114pb and we break even at £80pb.

Trinidad at the last RNS was just breaking profit and because of the disaster that was P1 and know that debt nearly paid off, it is production all the way and if the war continues prices will rise giving us greater profits and enjoying a better share price by the end of the year. Eytan said the next 3 years producing which is what we want and at $114pb and increasing. Great times ahead

Eytan said 2022 is the year for production in Trinidad to increase so good times ahead for 2022 and in to 2023.

Also, remember Trinidad was on verge of breakeven / profit a while ago - so now more than likely profitable and with rising oil prices continuing and if war continues going up further CEG are in for a profitable 2022,23,24.

seriously this board are a bunch of sad deramping losers. Just wait looking forward to organic growth as we increase production to 1000bpd towards the end of the year and with oil prices continuing to rise and expected to do so with the war continues. This means more profit for CEG plc ($107.8pb and rising)

With the debt almost cleared now, production set to increase from 400bpd to 1000bpd over the next 12 months and oil prices at $106pb and predicted to rise to $150pb + if the war continues then all looking well and good for Challenger Energy plc. If the pipeline is closed to Russia the oil price will shoot up further leading the greater profits for CEG plc.

Listen to the interview from 6:40m to 8:25m

https://www.youtube.com/watch?v=NY_6F9SjEdc

Sounds positive