Challenger Energy Corp. ("Challenger") (TSX VENTURE: CHQ) (AMEX: CHQ) announced today that Challenger, along with its partners, Canadian Superior Energy Inc. ("Canadian Superior") (TSX: SNG) (AMEX: SNG) and, BG International Limited ("BG"), a wholly owned subsidiary of the BG Group plc (LSE: BG.L) have successfully run and cemented in place the 9-7/8" intermediate casing string in the "Endeavour" well, to a depth of approximately 14,492 feet subsea, and that drilling is about to commence in the final hole section in the well.

The "Endeavour" well was spudded on August 28, 2008 and is expected to reach its final total depth ("TD") of approximately 18,000 feet in November. The "Endeavour" well is the 3rd well, in an initial 3 well program, being drilled by Challenger and its partners on Block 5(c), located approximately 60 miles offshore, off the east coast of Trinidad. "Endeavour" is being drilled on a separate prospect determined from the analysis and evaluation of extensive 3D seismic on Block 5(c). Earlier this year, Challenger announced two separate natural gas discoveries on Block 5(c); in the "Victory" well, announced on January 14, 2008; and, in the "Bounty" well, announced on August 13, 2008.

Drilling will commence shortly on the final section of the "Endeavour" well, the 8-1/2" hole section, roughly 3,600 feet from current depth to final TD. The primary objective of "Endeavour" is to prove up a possible multi - TCF reservoir. The 3D seismic based geological prognosis for the 'Endeavour' well shows the main target zone to be between the current drilled depth and the final TD, which we expect to reach before the end of November.

Challenger is paying one third of the costs of the initial exploration program on Block 5(c) to earn a 25% interest in the production sharing contract covering Block 5(c).

Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on "high impact" oil and gas plays offshore the Republic of Trinidad and Tobago. See www.challenger-energy.com for information on Challenger.

BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with an excellent track record in finding and commercialising reserves. See www.bg-group.com for information on BG Group plc.

Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations primarily offshore Trinidad and Tobago, offshore Nova Scotia, Canada, Western Canada, and North Africa. See Canadian Superior's website at www.cansup.com for information on Canadian Superior.

This news release contains forward-looking information, including estimates, projections, interpretations, prognoses and other information that may or relates to future production, resource potential and/or reserves, project start-ups and future capital spending. Forward-looking information contained in this news release is as of the date of this news release. The Company assumes no obligation to update and/or revise this forward-looking information "except as required by law". Actual results, estimates, projections, resource potential and/or reserves, interpretations, prognoses and/or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. This news release may contain the reference to the term "undiscovered natural gas resources", which are those quantities of natural gas estimated to be contained in accumulations yet to be discovered. There is no certainty that any portion of undiscovered resources (oil, natural gas, natural gas liquids or other hydrocarbons) will be discovered and that, if discovered, in this or any other discovery, the discovered resource may not be economically viable or technically feasible to produce.

Statements contained in this news release relating to future results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, resource potential and/or reserves, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporations' annual reports on Form 20-F on file with the U.S. Securities and Exchange Commission.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Challenger Energy Corp. Attention: Dan MacDonald (403) 503-8815 (403) 503-8811 (FAX) Challenger Energy Corp. Suite 200, 744 - 4th Avenue S.W. Calgary, Alberta, Canada T2P 3T4 Website: www.challenger-energy.com