South Africa Projects

Bundu Gas & Oil Exploration (Pty) Ltd (“Bundu”)

Bundu is 95% owned by Challenger Energy Limited, and 5% by its Black Economic Empowerment (BEE) partner, Donald Ncube via the Nkululeko Trust.

Mr Ncube is the Executive Chairman of Badimo Gas, a Director of Gold Fields and Vula Mining Supplies as well as the Chairman of Chiporo Rail. He was the former Chairman of South African Airways, the Atomic Energy Corporation, Real Africa Holdings, Oceana and Sun International. Mr Ncube pioneered the establishment of numerous business initiatives in financial services, manufacturing and mining and is a supporter of non-governmental institutions committed to uplifting and improving the quality of life in informal settlements.

Bundu has lodged an application for the Cranemere project, a significant shale gas prospect located in the Eastern Cape Province. The application covers 3,500km2 (870,000 acres) centred on the 1968 discovery well.