Challenger Energy provides half-year update

Challenger Energy provides half-year update

Challenger Energy Limited (ASX: CEL) has released its half-year report for the six months to December 2018, with the company continuing to pursue its application for shale gas exploration rights in South Africa. As previously indicated, there appears to be newfound political momentum, with an important decision made to abandon the long delayed MPRDA Amendment Bill and fast track a new piece of legislation specific to the petroleum industry.


Challenger Energy Limited (ASX: CEL) has released its half-year report for the six months to December 2018, with the company continuing to pursue its application for shale gas exploration rights in South Africa.

As previously indicated, there appears to be newfound political momentum, with an important decision made to abandon the long delayed MPRDA Amendment Bill and fast track a new piece of legislation specific to the petroleum industry.

Challenger was advised that on 20 September 2018 the Minister of Mineral Resources, Gwede Mantashe, withdrew the MPRDA Amendment Bill from parliament with the full support of Cabinet after a decision was taken to separate the legislation applicable to the petroleum sector from that applicable to the mining sector.

The Department of Mineral Resources has begun drafting a new bill which can be fast tracked without being impacted by the historic issues which have affected the MPRDA Amendment Bill. Challenger looks forward to the swift promulgation of the new bill.

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