Ministry of Mines and Energy in Namibia approves an increase in the work program and an extension of First Renewal Exploration Period for PEL 83 to support drilling of an exploration well
June 21 2022 - 6:07AM
Sintana Energy Inc. (TSX-V: SEI) (“Sintana” or the “Company”) is
pleased to announce that the Ministry of Mines and Energy in
Namibia has approved an extension to the First Renewal Exploration
Period for Petroleum Exploration License 83 (“PEL 83”) providing
for an increase to the related work program which will support the
drilling of an exploration well currently expected in 2023.
Sintana, through its indirect investment in Custos Energy,
maintains a 4.9% carried interest in the blocks 2813A and 2814B
which are operated through PEL 83. Sintana also owns indirect
interests in the adjacent blocks operated through PEL 90 and PEL
87.
An infographic accompanying this announcement is
available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8ec24ddf-42b4-48e3-ba47-efd03e2030f0
PEL 83 represents one of the most exciting
exploration opportunities in the Orange Basin, sitting directly
above Block 2913A where Shell made its Graff-1 light oil discovery,
and directly to the west of the Kudu Gas Field currently being
developed by BW Energy. PEL 83 is also contiguous to Block 2913B
where Total made its Venus-1 discovery. Both Shell and Total have
initiated further activity on their respective blocks.
“Custos acquired its interest in PEL 83 in 2016.
It is fantastic to see the activity and interest catch up around
us. We expect significant discoveries will continue to be made, on
our blocks and on those around us.” said Knowledge Katti, founder
of Custos Energy and a Director of Sintana.
“Our entry into Namibia was timely. We believe
that continuing investment in the Orange Basin, including the
drilling of an exploration well on PEL 83, will further
substantiate Namibia’s emergence as the world’s next great
hydrocarbon province.” said Robert Bose, President & Director
of Sintana. “We look forward to further activity and announcements
in the near-term.” he added.
ABOUT SINTANA ENERGY:
The Company is engaged in petroleum and natural
gas exploration and development activities in Colombia’s Magdalena
Basin and five large, highly prospective, onshore and offshore
petroleum exploration licenses in Namibia. Sintana’s
exploration strategy is to acquire, explore, develop and produce
superior quality assets with substantial reserves potential.
On behalf of Sintana Energy Inc.,“Douglas G,
Manner”Chief Executive Officer
For additional information or to sign-up to receive periodic
updates about Sintana’s projects, and corporate activities, please
visit the Company’s website at www.sintanaenergy.com.
Corporate
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Douglas G. Manner |
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Sean J. Austin |
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Jonathan Paterson |
Chief Executive Officer |
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Vice-President |
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Founder & Managing Partner |
832-279-4913 |
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713-825-9591 |
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