Sintana Energy Inc. ("Sintana" or the "Company") is pleased to provide the following update regarding Petroleum Exploration License 87 ("PEL 87") which governs blocks 2713A and 2713B located in the Orange Basin offshore in the Republic of Namibia. Sintana has a 7.4% indirect carried interest in PEL 87.
Pancontinental Energy Limited ("Pancontinental"), the joint venture partner and operator of PEL 87, has received notification from the Namibian Ministry of Industry, Mines and Energy (MIME) that the Minister has granted approval to Pancontinental's application to extend the current First Renewal Exploration Period of PEL 87 by 12 months, to January 22 2027. The extension has been granted with the following work commitments to be carried out on PEL 87 during the extension period:
锟� Undertaking of an Environmental Impact Assessment ("EIA")
锟� Reprocessing of 3D seismic data and seismic interpretation
锟� Drilling of an exploration well
The EIA is well progressed, having commenced in 2025, with the seismic reprocessing work program focusing on a subset of PEL 87 3D. The main purpose of the seismic work will improve seismic signal quality in specific areas.
Robert Bose, Chief Executive Officer of Sintana Energy, commented: "We are grateful to the Minister for the extension of PEL 87. We look forward to the continued refinement of the existing seismic work in anticipation of securing a farmin partner to progress the project to a focused drilling program."