REG - Sintana Energy Inc - PEL87 Extension Granted

Sintana EnergyAnnouncement

18/03/2026 08:45

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RNS Number : 1389X  Sintana Energy Inc  18 March 2026

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

PEL87 EXTENSION GRANTED

TORONTO, MARCH 18, 2026 - Sintana Energy Inc. (TSX-V: SEI, AIM: SEI, OTCQX:
SEUSF) ("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:

 

·    Undertaking of an Environmental Impact Assessment ("EIA")

·    Reprocessing of 3D seismic data and seismic interpretation

·    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."

 

For further information, please contact:

 Sintana Energy Inc                                Tel: +44 (0)7 747 845 987

 Robert Bose, Chief Executive Officer

 Eytan Uliel, President

 Zeus - Nomad and Joint Broker                     Tel: +44 (0) 20 3829 5000

 Antonio Bossi / Darshan Patel / George Duxberry

 Simon Johnson (Broking)

 Cavendish Capital Markets Limited - Joint Broker  Tel: +44 (0) 20 3493 8000

 Neil McDonald / Derrick Lee / Pearl Kellie

 Jonathan Paterson - Investor Relations            Tel: +1 475 477 9401
 jonathan.paterson@harbor-access.com
 (mailto:jonathan.paterson@harbor-access.com)

                                                   Tel: +44 (0) 20 3757 4980

 CAMARCO - Financial PR
 Billy Clegg / Georgia Edmonds / Sam Morris

 

About Sintana Energy

Sintana Energy is an Atlantic Margin-focused oil and gas company, holding
interests in a diverse portfolio of high-impact assets that spans the Southern
Atlantic conjugate margin. The Company's current portfolio is strategically
positioned in the emerging frontier geographies of Namibia, Uruguay and
Angola, with additional legacy assets in Colombia and The Bahamas. Led by an
experienced team, Sintana Energy is partnered with major industry players, and
benefits from significant carry support, on key licenses across multiple
jurisdictions. Sintana Energy is listed on the TSX-V in Canada under the
symbol "SEI", in the United Kingdom on the LSE-AIM under the symbol "SEI" and
in the U.S. on the OTCQX under the symbol "SEUSF".

For further information, please visit sintanaenergy.com
(https://www.sintanaenergy.com/)

Forward-Looking Statements

The information provided in this announcement contains certain forward-looking
statements and information (collectively, "forward-looking statements") within
the meaning of applicable securities laws. Such forward-looking statements
include, without limitation, forecasts, estimates, expectations and objectives
for future operations that are subject to assumptions, risks and
uncertainties, many of which are beyond the control of Sintana.
Forward-looking statements are predictive in nature, depend upon or refer to
future events or conditions, or include words such as "expect", "plan",
"anticipate", "believe", "intend", "maintain", "continue to", "pursue",
"design", "result in", "sustain" "estimate", "potential", "growth",
"near-term", "long-term", "forecast", "contingent" and similar expressions, or
are events or conditions that "will", "would", "may", "could" or "should"
occur or be achieved. The forward-looking statements contained in this
announcement speak only as of the date hereof and are expressly qualified by
this cautionary statement.

Forward-looking statements are based upon, among other things, factors,
expectations and assumptions that Sintana has made as at the date of this
announcement regarding, among other things, the receipt of all applicable
regulatory approvals and the anticipated schedule for receipt of funds
pursuant to the Settlement Agreement.

Undue reliance should not be placed on the forward-looking statements because
no assurance can be given that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These risks include, but
are not limited to, the ability of Sintana to receive all necessary regulatory
approvals and third party satisfaction of all conditions of the Settlement
Agreement.

Except as may be required by applicable securities laws, Sintana does not
assume any obligation or intent to update publicly or revise any
forward-looking statements made herein, whether as a result of new
information, future events or otherwise.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

 

 

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