Challenger Energy now debt-free after bridge loan repayment

(Sharecast News) - Caribbean and Americas-focussed oil and gas company Challenger Energy announced on Friday that it has retired its short-term bridge loan, under the terms it outlined on 27 October. The AIM-traded firm said the move followed the recent transaction involving the sale of the Cory Moruga licence, as disclosed on 7 November.

It said the proceeds generated from the sale of the Cory Moruga licence were allocated towards the repayment of the short-term bridge loan.

As a result, Challenger Energy was now completely debt-free.

At 0837 GMT, shares in Challenger Energy Group were down 3.04% at 0.0606p.

Reporting by Josh White for Sharecast.com.