CALGARY, ALBERTA--(MARKET WIRE)--Mar 3, 2009 -- Challenger Energy Corp. ("Challenger" or "Company") (CDNX:CHQ.V - News)(AMEX:CHQ - News) announces that NYSE Alternext has halted trading in its common shares and is reviewing a possible delisting. NYSE Alternext took this step in response to Challenger's announcement on February 27 that it had obtained an order (the "CCAA Order") for protection from creditors under the Companies' Creditors Arrangement Act (Canada).

Challenger is in the process of reviewing different alternatives available that may allow its common shares to recommence trading on NYSE Alternext. Challenger's shares continue to trade on the TSX Venture Exchange, where suspension and delisting is currently prevented by the CCAA Order.