Sintana JV receives approval for PEL 87 extension

Executive Summary

• Sintana Energy Inc. (via its 7.4% indirect carried interest) received approval from the Namibian Ministry of Industry, Mines and Energy (MIME) to extend the first renewal exploration period for petroleum exploration licence (PEL) 87 by 12 months.
• The extension extends the exploration period to January 22, 2027, with specific work commitments required during this period.
• Key work commitments include undertaking an environmental impact assessment (EIA), reprocessing 3-D seismic data, and drilling an exploration well.

Key Details

• Licence: PEL 87, covering blocks 2713A and 2713B in the Orange basin offshore Namibia.
• Sintana Interest: 7.4% indirect carried interest.
• Operator/JV Partner: Pancontinental Energy Ltd.
• Extension Duration: 12 months.
• New Expiry Date: January 22, 2027.
• Work Commitments:
  • Undertaking of an environmental impact assessment (EIA).
  • Reprocessing of 3-D seismic data and seismic interpretation.
  • Drilling of an exploration well.
• Project Status: The EIA commenced in 2025 and is well progressed. Seismic reprocessing focuses on a subset of PEL 87 3-D data to improve signal quality in specific areas.
• Strategic Goal: Refinement of existing seismic work to secure a farm-in partner for a focused drilling program.

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 of Sintana Energy