PEL87 Extension Granted

Executive Summary

• The Namibian Ministry of Industry, Mines and Energy approved a 12‑month extension (to Jan 22 2027) of the First Renewal Exploration Period for Petroleum Exploration License 87 (PEL 87).
• The extension is subject to work commitments: completing an Environmental Impact Assessment, reprocessing 3D seismic data, and drilling an exploration well.
• Sintana Energy holds a 7.4% indirect carried interest in PEL 87 and will continue to pursue a farm‑in partner for the project.

Key Details

• License & Interest: PEL 87 covers blocks 2713A and 2713B in Namibia’s Orange Basin; Sintana has a 7.4% indirect carried interest.
• Extension Granted: First Renewal Exploration Period extended by 12 months, now ending Jan 22 2027.
• Work Commitments During Extension:
• Completion of an Environmental Impact Assessment (EIA) – well progressed since 2025.
• Re‑processing and interpretation of a subset of existing 3D seismic data to improve signal quality in targeted areas.
• Drilling of one exploration well.
• Operator: Pancontinental Energy Limited remains the joint‑venture partner and operator of PEL 87.
• Management Comment: CEO Robert Bose expressed gratitude for the extension and indicated focus on refining seismic work to secure a farm‑in partner for drilling.

Notable Quotes

“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 farm‑in partner to progress the project to a focused drilling program.” – Robert Bose, CEO, Sintana Energy