PEL 83 Second Exploration Campaign Commencement of Operations – Spud of Mopane 1-A Well

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TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — Sintana Energy Inc. is pleased to… (TSX-V: SEI, OTCQB: SEUSF) (“Sintana” or the “Company”) provides the following update regarding the second exploration and appraisal campaign on Blocks 2813A and 2814B located in the heart of Namibia’s Orange Basin, which has emerged as one of the most promising oil and gas areas. In the world. The areas are subject to Petroleum Exploration License No. 83 (“PEL 83”) which is operated by a subsidiary of the Portuguese company Galp Energia (“Galp”). Sintana maintains an indirect interest of 49% in Custos Energy (Pty) Ltd. (“Custos”), which in turn holds a 10% working interest in PEL 83. NAMCOR, the national petroleum company of Namibia, also holds a 10% working interest. interest.

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The Santorini drillship arrived on site and began operations associated with the Mopane 1-A well. Specifically, Mopane 1-A was launched at 23:30 local time on October 23.^Third.

This appraisal well is the first of a program of up to four wells that will likely consist of two exploration wells and two appraisal wells. This second campaign builds on PEL 83 to provide additional insights into the scope and quality of the Mopane complex.

We refer to press releases issued by Galp (available at galp.com) and Custos (available at newsdirect.com) throughout the first quarter and second quarter of 2024, noting that the inaugural two-well exploration campaign that began in the fourth quarter of 2023 led to discoveries Multiple significant plumes of light oil in high-grade reservoir sands provide an initial Original Oil in Progress (“OOIP”) estimate of 10 billion barrels of oil equivalent. Drill stem testing was also conducted, restricting flow into the infrastructure by 14,000 boe/d.

Preliminary analysis indicates that the reservoirs have good porosity, high pressures and high permeability in large hydrocarbon columns with very low oil viscosity and no carbon dioxide or hydrogen sulfide. The flows achieved during the well testing reached the maximum permissible limits, making Mopan an important commercial discovery.

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“We look forward to the continued progress of PEL 83, further revealing the potential and quality of the Mopane complex. These efforts should provide additional insights into this world-class opportunity and our broader Orange Basin portfolio that is located in the heart of this emerging hydrocarbon province,” said Robert Buss. CEO of Sentana.

About Sentana Energy:

The company is engaged in oil and natural gas exploration and development activities in five large onshore and offshore oil exploration licenses in Namibia and in the Magdalena Basin in Colombia.

On behalf of Sentana Energy,
“A. Robert Boss”
chief executive officer

For additional information or to register to receive periodic updates about Sintana projects and company activities, please visit the company website at www.sintanaenergy.com

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Forward-looking statements

Certain information in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions for the future, and include, without limitation, statements regarding potential future farm-in agreements for PEL 83 and/or PEL 87, and future exploration and development activities. The proposed PEL 83 and/or PEL 90 and adjacent properties, as well as the future nature of the Company’s real estate interests. These statements are subject to risks and uncertainties that could cause actual results, performance or developments to differ materially from those contained in the statements, including, without limitation, risks related to the receipt of all applicable regulatory approvals and the results of exploration and development activities. and the ability to find joint venture partners, exploration financing, governmental permits and approvals and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in preparing this information, although considered reasonable at the time of preparation, may prove to be inaccurate and, therefore, undue reliance should not be placed on forward-looking statements. The Company undertakes no obligation to update this information, except as required by law.

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.

The image accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca79be82-d8c9-4894-be4d-1acfbcc48be3

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