Challenger Announces "Endeavour" Well is Spud, on Block 5(c) Offshore Trinidad

CALGARY, ALBERTA, Sep 02 (MARKET WIRE) --
Challenger Energy Corp ("Challenger") (TSX VENTURE: CHQ) (AMEX: CHQ),
announced today that on August 28, 2008, the "Endeavour" well was
successfully spudded with the Kan Tan IV semi-submersible drilling rig.
The "Endeavour" well is located approximately 5.2 miles north from the
recently announced "Bounty" natural gas discovery on Block 5(c), offshore
the Republic of Trinidad and Tobago. As of September 2, 2008, the
"Endeavour" well has been spudded (August 28th), successfully drilled to
a depth of 1,227 feet subsea where the 30" surface conductor casing was
run and cemented in place; and, the next section of the hole, the 26"
section, has been drilled to approximately 2,305 feet subsea (06:00EDT).

The "Endeavour" well is planned to be drilled to a total vertical depth
of approximately 18,000 feet subsea in about 940 feet of water. The Kan
Tan IV semi-submersible drilling rig, which recently drilled the
"Victory" and "Bounty" natural gas discovery wells on Block 5(c), is
drilling the "Endeavour" well, in this initial 3 well program.

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.

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. 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 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.
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

Copyright 2008, Market Wire, All rights reserved.

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