Sintana Energy begins 3-D seismic program at Area OFF-1

Executive Summary

• Sintana Energy Inc. has commenced its planned 3-D seismic acquisition campaign on Area OFF-1, located offshore Uruguay.
• The survey, covering approximately 4,300 square kilometres, is being executed by contractor Viridien using the BGP Prospector vessel.
• The company holds a 40% non-operated interest in the block, with Chevron Corp. holding the remaining 60% operating interest; Sintana is carried for the total anticipated cost of the seismic program.

Key Details

• Survey Scope: The 3-D seismic acquisition covers approximately 4,300 square kilometres of Area OFF-1 offshore Uruguay.
• Contractor and Vessel: The campaign is being carried out by Viridien using the BGP Prospector vessel.
• Schedule: Fieldwork is scheduled over two seasons:
  • Season 1: February to April 2026.
  • Season 2: November 2026 to April 2027.
• Results Timeline:
  • Fast-track results from the first season are expected in Q4 2026.
  • Full Prestack Depth Migration (PSDM) results from the first season are expected in Q2 2027.
• Ownership and Cost Structure: Sintana Energy holds a 40% non-operated interest. In 2025, a 60% operating interest was farmed out to an affiliate of Chevron Corp. Sintana is carried for the total anticipated cost of the 3-D seismic acquisition program.
• Regulatory Context: The commencement follows the rejection by Uruguayan courts of several attempted interventions by activist groups, highlighting the robustness of the local environmental consultation and permitting process.
• Strategic Context: CEO Robert Bose noted this activity follows the completion of the acquisition of Challenger Energy in December 2025 and underscores the company's transatlantic portfolio strategy.

Notable Quotes

• "We are excited to see activity on Area OFF-1 beginning so soon after completion of our acquisition of Challenger Energy in December, 2025. 3-D seismic acquisition is a key next step in defining the potential of Uruguay's offshore embedded within our transatlantic portfolio, and which is underpinned by a relationship with Chevron that spans the conjugate margins. We look forward to providing further updates on progress over the coming quarters." — Robert Bose, Chief Executive Officer