Sintana Provides Update 3 Acceleration of Operations Including Spud of Mopane 2-A Well

Sintana Energy Inc. (“Sintana” or the “Company”) is pleased to provide the following further update regarding the second campaign on blocks 2813A and 2814B located in the heart of Namibia’s Orange Basin. The blocks are governed by Petroleum Exploration License 83 (“PEL 83”) which is operated by a subsidiary of Galp Energia (“Galp”) of Portugal. Sintana maintains an indirect 49% interest in Custos Energy (Pty) Ltd. (“Custos”), which owns a 10% working interest in PEL 83. NAMCOR, the National Petroleum Company of Namibia, also maintains a 10% working interest.

With reference to Galp’s corporate website (at galp.com) and updates provided therein, we are pleased to announce that further to recent successful appraisal operations conducted at the Mopane 1-A location as announced on December 2nd, Galp and its partners decided to retain the Santorini drillship to continue the ongoing exploration and appraisal campaign during the southern hemisphere summer whilst avoiding mobilisation and de-mobilisation costs.

Specifically, we note that the Mopane-2A (well #4) has been spud in nearby AVO-3, and Mopane-3X (well #5) is expected to be spud in early 2025 in AVOs 10 and 13 (stacked) taking advantage of newly processed 3D seismic. The upcoming activities also include a high-density and high-resolution proprietary 3D development seismic campaign over the Mopane complex set to start in December 2024.

Results of Mopane-1A (well #3) released on December 2nd noted that the well encountered light oil and gas-condensate in high-quality reservoir-bearing sands, once again indicating good porosities, high permeabilities, and high pressures, as well as low oil viscosity characteristics with minimum CO2 and no H2S concentrations. Together with the Mopane-1X (well #1) and Mopane-2X (well #2) findings, this appraisal well confirmed the extension and quality of AVO-1 and supported the acceleration of the program.

“The acceleration of operations in this second campaign is emblematic of the ongoing progress at Mopane. We look forward to the exploration and appraisal activities anticipated over coming months to further unveil its world class scale and quality,” said Robert Bose, Chief Executive Officer of Sintana.