Challenger Energy has announced that its three currently identified exploration prospects in its 100% held AREA OFF-1, offshore Uruguay, have a combined best estimate (Pmean) recoverable resource potential of 2.0 billion boe. The company further indicated that, having completed its volumetric estimation, it is initiating a farm-out process. We have a high degree of confidence that the company will successfully farm-out its interest in the block prior to the end of the year. We do not believe tha ....
