6 March 2023

Challenger Energy Group plc

("Challenger Energy" or "the Company")

Change of Adviser

Challenger Energy (AIM: CEG), the Caribbean and Americas focused oil and gas company, with oil production, appraisal, development and exploration assets across the region, announces that following the acquisition of Arden Partners plc ("Arden") by Zeus Capital Limited ("Zeus"), Zeus has now replaced Arden as the Company's Joint Broker, with immediate effect.

For further information, please contact:

Notes to Editors

Challenger Energy is a Caribbean and Americas focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of Uruguay and The Bahamas. In Trinidad and Tobago, Challenger Energy has four (4) producing fields, two (2) appraisal / development projects and a prospective exploration portfolio in the South West Peninsula. In Suriname, Challenger Energy has an onshore appraisal / development project. Challenger Energy's exploration licences in Uruguay, the South West Peninsula of Trinidad, and The Bahamas offer high-impact value exposure within the overall portfolio value.

Challenger Energy is quoted on the AIM market of the London Stock Exchange.

https://www.cegplc.com