TORONTO, ON — December 9, 2025 — Leads & Copy — Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) announced an update on blocks 2813A and 2814B in Namibia’s Orange Basin, governed by Petroleum Exploration License 83 (PEL 83). Currently, a Galp Energia, SGPS, S.A. subsidiary operates PEL 83. Sintana holds an indirect 49% interest in Custos Energy (Pty) Ltd., owning a 10% working interest in PEL 83, resulting in an effective 4.9% interest. NAMCOR, Namibia’s National Petroleum Company, holds a 10% working interest.
TotalEnergies and Galp have agreed for TotalEnergies to take over PEL 83 operations and acquire a 40% participating interest from Galp, which currently owns 80%, according to Galp’s website.
The agreement includes an exploration and appraisal campaign with at least three wells over two years to de-risk the block and define an initial development hub. The first potential well is under assessment for 2026.
Galp and TotalEnergies also signed a funding agreement where 50% of all Galp’s investments for a first development in Mopane will be carried and be repaid following the first commercial oil through 50% of Galp’s future cash flows from the project. Custos will continue to benefit from the carry that is provided for in the prevailing Joint Operating Agreement associated with PEL 83.
The Namibian authorities and joint venture parties still need to approve the transaction, with completion expected in 2026.
Sintana Energy Inc. Chief Executive Officer Robert Bose said that adding TotalEnergies to the PEL 83 partnership as operator and owner shows the quality and size of the opportunity and the discoveries at Mopane. The resources committed to PEL 83 can increase the value of Sintana’s interests, he said.
Sintana Energy Inc. is involved in oil and gas exploration and development in five onshore and offshore petroleum exploration licenses in Namibia and Colombia’s Magdalena Basin. Sintana is also acquiring Challenger Energy Group Plc, which will add offshore petroleum licences in Uruguay to its portfolio. Sintana’s strategy involves acquiring, exploring, developing, and producing quality assets with significant value potential.
Robert Bose, Chief Executive Officer of Sintana Energy Inc. can be reached at 212-201-4125. Jonathan Paterson, Managing Partner of Harbor Access can be reached at 475-477-9401.
Source: Sintana Energy
