AIM-listed Challenger Energy, the Caribbean and Americas focused oil and gas company, has provided highlights from its technical assessment of the AREA OFF-1 block, offshore Uruguay. An initial prospect inventory of 1 to 2 billion barrels has been defined from CEG's 2D seismic reprocessing work. The Company's next-step objective is to farm-out to an industry partner(s), so it can fast-track a 3D seismic acquisition.