Challenger Energy Corp.

Challenger Energy Corp., Calgary, has retained Peters & Co. Limited to seek strategic alternatives, including a possible sale of the company. Challenger, along with its partners, Canadian Superior Energy Inc. (Toronto, Amex: SNG) and BG International Ltd., a subsidiary of the BG Group plc (London: BGL) hold interests in exploration Block 5(c), offshore Trinidad and Tobago. Preparations continue to conduct flow testing on Endeavour well, in which the main targeted zone for the well has been encountered and has been evaluated with a full suite of electric wireline logs; and operations are proceeding to flow test the well. In 2008, Challenger announced gas discoveries on Block 5(c) in Victory and Bounty wells. Contact Peters, 403-261-4850.