The Ministry of Mines and Energy of Namibia approves an increase in the work program and an extension of the first renewal exploration period for PEL 83 to support the drilling of an exploration well

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Sintana Energy Inc.

Infographics

Infographics

Infographics

TORONTO, June 21, 2022 (GLOBE NEWSWIRE) — Sintana Energy Inc. (TSX-V: SEI) (“Sintana” or the “Company”) is pleased to announce that the Namibian Ministry of Mines and Energy approved an extension to the first exploration period of renewal of Petroleum Exploration License 83 (“PEL 83”) providing for an increase in the related work program that will support the drilling of an exploration well currently planned for 2023. Sintana, through its indirect investment in Custos Energy, holds a 4.9% interest in Blocks 2813A and 2814B which are operated via PEL 83. Sintana also holds indirect interests in the adjacent blocks operated via 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 attractive exploration opportunities in the Orange Basin, located directly above block 2913A where Shell made its Graff-1 light oil discovery, and directly west of the field Kudu gas pipeline currently being developed by BW Energy. PEL 83 is also contiguous to block 2913B where Total made its discovery of Venus-1. Shell and Total have launched new activities on their respective blocks.

“Custos acquired its stake in PEL 83 in 2016. It is fantastic to see the activity and interest catching up around us. We anticipate that important discoveries will continue to be made, on our blocks and those around us. said Knowledge Katti, founder of Custos Energy and director of Sintana.

“Our entry into Namibia was timely. We believe continued investment in the Orange Basin, including the drilling of an exploration well on PEL 83, will further strengthen Namibia’s emergence as the world’s next major hydrocarbon province. said Robert Bose, president and director of Sintana. “We look forward to further activities and announcements in the short term.” he added.

ABOUT SINTANA ENERGY:

The Company is engaged in oil and natural gas exploration and development activities in the Magdalena Basin in Colombia and five large, highly prospective onshore and offshore oil exploration licenses in Namibia. Sintana’s exploration strategy is to acquire, explore, develop and produce high quality assets with substantial reserve potential.

On behalf of Sintana Energy Inc.,
“Douglas G, Way”
Chief executive officer

For more information or to sign up to receive periodic updates on Sintana’s plans and company activities, please visit the company’s website at www.sintanaenergy.com.

Company details :

Investor Relations Advisors:

Douglas G. Manner

Sean J. Austin

Jonathan Paterson

Chief executive officer

vice president

Founder & Managing Partner

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Forward-looking statements

Certain information contained in this press release is 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, but are not limited to, statements regarding grants of stock options and restricted stock units and the 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, but not limited to, the risks associated with obtaining any applicable regulatory approvals, results of exploration activities, ability to secure joint venture partners and fund exploration, permits and governmental approvals, and other risks identified in the company’s public disclosure documents. the Company from time to time. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. The Company assumes no obligation to update this information, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.

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