October 2009
Challenger Limited recieved the Workd Finance Magazine 2009 Award as the best Drilling Contractor more

January 2008
Challenger Limited reached a definitive agreement with Bronco Drilling Company Inc, whereby the latter acquired a significant stake (25%) in Challenger, in return for a combination of in-kind and cash contributions, on a fully diluted basis.

Bronco’s in-kind contribution consisted of six different-capacity land drilling rigs, ancillary equipment, and operational stock of spare parts.  The management of Challenger Limited had Bronco’s in-kind contribution evaluated at fair value in excess of $60 million.

Simultaneously with Bronco’s equity investment, VC-Bank purchased 2% of Challenger Limited shares, on a fully diluted basis more

February 2007
the investment consideration was fully 70% of Challenger Limited’s total share capitals were then held in the name of “Challenger Group Ltd.”, a Bermudian holding company, fully owned by the Tatanaki family

The remaining 30% were held in the name of “MENA Oil Drilling Ltd.”, an Isle of Man SPV, fully controlled by Venture Capital Bank, Bahrain more

October 2006
an agreement was concluded between the shareholders of Challenger Limited and the Bahrain based “Venture Capital Bank”, allowing Private Equity Investment into Challenger Limited more