Sintana Energy Inc. Announces Commencement of 3D Seismic Acquisition Area Off-1, Uruguay

Executive Summary

• Sintana Energy announced the start of its 3D seismic acquisition campaign on AREA OFF‑1, offshore Uruguay.
• The survey covers ~4,300 km² and will be executed in two field seasons (Feb–Apr 2026 & Nov 2026–Apr 2027).
• Fast‑track seismic results are expected in Q4 2026, with full PSDM results from the first season anticipated by Q2 2027.

Key Details

• Survey Contractor: Viridien, using the BGP Prospector vessel.
• Coverage Area: Approximately 4,300 km² of the AREA OFF‑1 block.
• Field Seasons:
• Season 1 – February to April 2026 (major acquisition for key prospects).
• Season 2 – November 2026 to April 2027.
• Result Timelines:
• Fast‑track seismic results: Q4 2026.
• Full PSDM (Pre‑Stack Depth Migration) results from Season 1: Q2 2027.
• Interest Structure: Sintana holds a 40% non‑operated interest; Chevron affiliate operates with a 60% interest after the 2025 farm‑out.
• Cost Carriage: Sintana is carried for the total anticipated cost of the seismic program.
• Regulatory Context: Commencement follows Uruguayan court rejections of activist interventions, underscoring successful permitting and environmental review.
• CEO Comment (Robert Bose): Emphasized excitement over rapid project start post‑acquisition of Challenger Energy, highlighted 3D seismic as a critical step for evaluating Uruguay’s offshore potential within the Transatlantic portfolio, and pledged further quarterly updates.

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. 3D seismic acquisition is a key next step in defining the potential of Uruguay's offshore embedded within our Transatlantic portfolio… We look forward to providing further updates on progress over the coming quarters.” – Robert Bose, CEO, Sintana Energy

Materiality Assessment: Non‑Material – Positive (operational milestone with no immediate financial impact).