Bahamas Petroleum Changes Its Name to Challenger Energy

Source: 5/21/2021, Location: South America

Bahamas Petroleum, the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and onshore and offshore exploration assets across the region, is pleased to announce that, further to the passing of all resolutions at the Company's Extraordinary General Meeting on 17 May 2021, the Company's change of name has been effected by the Isle of Man Registrar of Companies. As such, the Company's shares on AIM, as of 08:00 a.m. today, will be under its new name Challenger Energy Group PLC ("Challenger Energy") and its new ticker of "CEG".

The Company's ISIN (IM00B3NTV894) and SEDOL (B3NTV89) remain unchanged. Shareholders should note that their shareholdings will be unaffected by the change of name. Existing share certificates should be retained by Shareholders holding ordinary shares in certificated form as they will remain valid for all purposes and no new share certificates will be issued.

Eytan Uliel, Challenger Energy CEO Designate, 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 20 May 2021, 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. As Challenger Energy, our immediate strategic priority is to drive production and cashflow growth, through intelligent management and deployment of our resources. Our change of name, and the broader corporate reset currently underway, is in support of this strategic priority, which we see as the lynchpin for shareholder value growth both in the near-term and in the years ahead. All of us at Challenger Energy look forward to beginning the next chapter."

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