Challenger Energy Group PLC (AIM:CEG) is looking for acquisitions. Eytan Uliel, Chief Executive Officer said, "We also believe that a stabilised business with a restructured balance sheet and increasing cash flows from production will be well placed to consider further production growth opportunities, whether organically generated or via acquisitions". A number of new onshore business development activities are currently being considered by the Company, with a view to creating a pathway for the Company to see further production growth in the near-term.

In particular, (i) the Company is evaluating a number of "bolt-on" acquisition opportunities of existing producing fields onshore Trinidad and Tobago, which if successfully consummated the Company believes could be immediately accretive to production and cashflow, (ii) the Company has been invited to submit letters of interest for available onshore production blocks being offered by MEEI, and anticipates the commencement of the negotiation process for potential new blocks to begin in the second quarter of 2022, and (iii) The Company has submitted an Expression of Interest to Heritage for new onshore sublicences with a focus on improved oil recovery opportunities at existing production fields, as a means of enabling the Company's experience in recent years to be strategically extended to new onshore fields. The Company anticipates this new sublicensing process to commence during 2022.