KEYFACT Energy
Challenger Energy, the Caribbean and Americas focused oil and gas company, with a range of oil production, development, appraisal, and exploration assets, today announced that the award of the AREA OFF-3 licence, offshore Uruguay, has been formally approved by the Administración Nacional de Combustibles Alcohol y Pórtland ("ANCAP"), the Uruguayan national regulatory agency.
The Company expects that the remaining process for all remaining approvals, finalisation and formal signing of the licence documentation will take approximately 3-4 months, at which point the initial 4-year exploration period of the licence will commence.
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