Challenger Energy Shares Soar After Drilling Progress Report

Challenger Energy Ltd., an Australian oil and gas exploration and production company, jumped after drilling at its Triple Crown Prospect project intersected more than 1000 feet of potentially gas-charged zones, the Perth-based company said in a regulatory filing.

The shares jumped as much as 53 percent on the Australian stock exchange, its highest level since August 2008, and were trading at 21.5 Australian cents at 2:25 p.m. in Sydney.

To contact the reporter for this story: Lisa Pham in Sydney at lpham14@bloomberg.net.

To contact the editors responsible for this story: Nick Gentle at ngentle2@bloomberg.net; Neil Denslow at ndenslow@bloomberg.net

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