• As at the end of October, Challenger held ~US$3 mm in cash with current liabilities of ~US$22 mm. The drop in cash reflects cost overruns in Trinidad and one-off corporate charges associated with redundancies and a cost reduction programme. Corporate costs now run at ~US$0.2 mm per month.
• The current payables include (i) ~US$12 mm associated with the Perseverance -1 well in the Bahamas, (ii) ~US$2.5 mm associated with the Saffron #2 well and (iii) ~US$6.5 mm representing the full amount of v ....
02 Nov 2021
Challenger Energy Group plc (AIM: CEG): Focusing on balance sheet
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Challenger Energy Group plc (AIM: CEG): Focusing on balance sheet
Challenger Energy Group PLC (CEG:LON) | 0.2 0 11.9% | Mkt Cap: 16.8m
- Published:
02 Nov 2021 -
Author:
Stephane Foucaud -
Pages:
5
• As at the end of October, Challenger held ~US$3 mm in cash with current liabilities of ~US$22 mm. The drop in cash reflects cost overruns in Trinidad and one-off corporate charges associated with redundancies and a cost reduction programme. Corporate costs now run at ~US$0.2 mm per month.
• The current payables include (i) ~US$12 mm associated with the Perseverance -1 well in the Bahamas, (ii) ~US$2.5 mm associated with the Saffron #2 well and (iii) ~US$6.5 mm representing the full amount of v ....