Challenger Energy Group, the Caribbean and Atlantic margin focused oil and gas company, has raised US$9.75m via a placing and open offer, with Shore Capital acting as Bookrunner and Joint Broker.

The company plans to continue the work of its corporate reset program, with a focus on increasing production and cashflow from onshore assets in Trinidad and Tobago and Suriname. The next milestone in this journey will be the imminent spud of the Saffron-2 appraisal well in Trinidad.

For further information please contact:   

Shore Capital +44 (0) 20 7408 4090

Corporate Advisory: Toby Gibbs

Corporate Broking: Jerry Keen

 For Shore Capital media enquiries, please contact:   

Adele Gilbert: +44 (0)74 8477 8331

Note to editor

About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income.  We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM.  Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.