Bahamas Petroleum, an oil and gas firm based on the Caribbean and Atlantic margins, has changed its name to Challenger Energy Group plc. According to the company, the development comes after the company’s extraordinary general meeting on May 17 passed all resolutions. The company’s ISIN (IM00B3NTV894) and SEDOL (B3NTV89) will remain unchanged, and shareholdings will be unaffected by the name change.
Challenger Energy says, existing share certificates should be held by shareholders who own ordinary shares in certificated form, as they will remain valid for all purposes. The new ticker for the company is CEG, and the company’s website address has been changed to reflect the name change.
Eytan Uliel, from Challenger Energy’s chief executive officer, said, “With the spud of the highly anticipated Saffron-2 appraisal well now just days away, we are pleased that in addition to the successful completion of our fundraising as announced on May 20, shareholders at the EGM supported all of our broader corporate reset objectives, including the change of name of the company to Challenger Energy, which has now taken effect.”
Challenger Energy’s immediate strategic focus is to increase output and cash flow through effective resource management and deployment. This strategic focus is supported by the name change and the broader organizational rebranding that is currently underway. They see it as the lynchpin for future shareholder value growth, both now and in the future.
According to Challenger Energy’s website, the company has various exploration, appraisal, construction, and production assets and licenses onshore in Trinidad and Tobago and Suriname and offshore in the Bahamas and Uruguay. The Isle of Man is home to the company’s headquarters.