Challenger Energy - AIM Rule 17 Schedule 2(g) Update

27 October 2025

Challenger Energy Group PLC

AIM Rule 17 Schedule 2(g) Update

Challenger Energy Group PLC (AIM:CEG, OTCQB:BSHPF) ("Challenger" or "the Company"), discloses the following information pursuant to Rule 17 and Schedule 2, Paragraph (g) of the AIM Rules for Companies.

Prax Exploration and Production PLC ("Prax"), a U.K. incorporated company of which Iain McKendrick was a non-executive director, was placed into administration on 29 September 2025, and on the same day a sale of Prax was announced to Serica Energy PLC. The administration of Prax related to the sale transaction, which is expected to close in December 2025.

Armour Energy Limited ("Armour"), an Australian incorporated company of which Stephen Bizzell and Eytan Uliel were non-executive directors, was placed into administration on 10 November 2023, along with several subsidiary entities of Armour of which Stephen Bizzell and Eytan Uliel were also non-executive directors, being Armour Energy (Surat Basin) Pty Ltd, Armour Energy (Victoria) Pty Ltd, McArthur Oil and Gas Limited and McArthur NT Pty Ltd.  Subsequently, on 22 January 2024, Armour Energy (Surat Basin) Pty Ltd and Armour Energy (Victoria) Pty Ltd were sold under a Deed of Company Arrangement and exited administration, and the remaining entities, being Armour Energy Limited, McArthur Oil and Gas Limited and McArthur NT Pty Ltd, were placed into receivership, with a final report on the liquidation of these entities issued on 15^th September 2025. Unsecured creditor claims, almost entirely from Armour's majority shareholder (DGR Global Limited) following a sale of Armour's operating business, totalled approximately A$31.6m; no distribution was made to unsecured creditors. For further information: https://www.mcgrathnicol.com/creditors/armour-energy-group/

For further information, please contact:

Notes to Editors

Challenger Energy is an Atlantic-margin focused energy company, with a current high-impact position in Uruguay, where the Company holds two offshore exploration licences, totalling 19,000km² (gross) and is partnered with Chevron on the AREA-OFF 1 block. Challenger Energy is quoted on the AIM market of the London Stock Exchange and the OTCQB in the United States.

https://www.cegplc.com 

ENDS