News

Challenger Energy Group is an LSE AIM listed Company that focuses on high impact, globally material assets. Its flagship assets are in Uruguay, a new global exploration hotspot, where they have assets with multiple billion-barrel prospects. The Company holds two high impact offshore exploration licences (AREA OFF-1 and AREA OFF-3), totalling 19,000km2 (gross), making it one of the largest acreage holder offshore Uruguay, and is the only junior with a position in this exciting new exploration province.

Challenger is partnered with Chevron on AREA OFF-1 and has a 40% non-operating interest with a 100% carry of its share of the costs associated with the 3D seismic campaign, up to a maximum of US$15 million (net), and a 50% carry of its share of the costs of an initial exploration well, if drilled, up to a maximum of US$20 million (net).The Company also owns 100% of 3 onshore producing fields in Trinidad and legacy exploration assets in the Bahamas.

Sintana Energy is a Toronto Venture Exchange listed Company engaged in petroleum and natural gas exploration and development in highly prospective geographies that have huge unconventional and conventional resource potential.

They have created a diversified asset portfolio of interests in exploration and development projects with major upside potential comprised of five large, highly prospective offshore licenses in the Walvis and Orange Basins, one onshore petroleum exploration license in Namibia, Southwest Africa and the VMM-37 in Colombia’s Magdalena Basin.

On 9^th October 2025, the board of directors of each of Sintana and Challenger announced that they had reached agreement on the terms of a recommended all share offer pursuant to which Sintana will acquire the entire issued and to be issued ordinary share capital of Challenger.

Publication of the Scheme Document

Having helped Challenger (previously called Bahamas Petroleum) with the production of their annual report since 2019, the Perivan shareholder communications team was delighted to work with Clyde & Co who acted as Legal Adviser and Zeus Capital who acted as Nominated Adviser on the Scheme and associated documents, which were successfully published and posted to qualifying shareholders on 3^rd November 2025.

For more information, click here.

Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.