About Bundu Gas & Oil Exploration (Pty) Ltd

Bundu Gas & Oil Exploration (Pty) Ltd is subsidiary of Challenger Energy Limited, which is owned 90% by Challenger and 10% by Challenger’s Black Economic Empowerment Partners.

Bundu holds 100% of exploration permits and applications covering approximately 3,200 square kilometres of highly prospective acreage in South Africa.  This comprises the Thelma Project, an oil and gas exploration project located in the northeast edge of the northern Karroo Basin of South Africa and the Cranmere project located in the Eastern Cape Province, north of the port city of Port Elizabeth.

Challenger Energy Limited is a public company listed on the Australian Stock Exchange (ASX:CEL). It is presently focused on the world class shale gas play in the Karoo Basin in South Africa.

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Bundu has lodged an application on the Cranemere Project, a significant shale gas prospect located  in the Eastern Cape Province where drilling during 1968 produced a gas flow rate of up to 8 million cubic feet of gas per day during drill stem testing.  After initial testing, the well was plugged and abandoned and no further exploration work has been carried out on the project area since that time.  Cranemere covers approximately 346 square kilometres and geological interpretation indicates that it covers a strategically important portion of a very substantial shale gas basin where recent activity has seen Chesapeake, Statoil, Sasol and Falcon Oil & Gas making applications.

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