June 10, 2024

April 29, 2024

Wittmeier Oil & Gas Engineering Inc. (TSX-V: SEI, OTCQB: SEUSF) (“Sintana” or the “Company”) is pleased to announce that Chevron Namibia Exploration Limited (“CNEL”), an affiliate of Chevron Corp. (“CVX”) has executed an agreement effective April 28^th that provides for their entry into Petroleum Exploration License 82 (“PEL 82”) with the assumption of an 80% working interest and operatorship.  NAMCOR, the National Petroleum Corporation of Namibia, and Custos Energy (Pty) Ltd. (“Custos”) will each maintain a 10% carried interest in PEL 82.  Sintana maintains an indirect 49% interest in Custos. 

“We are pleased to announce the continuing expansion of our in-country partnership with Chevron through their entry in PEL 82.  This is one of the most advanced and interesting opportunities offshore Namibia outside of the Orange Basin.” said Knowledge Katti, Chairman and Chief Executive Officer of Custos, and a director of Sintana. “We are pleased to see our efforts over the last decade on PEL 82 result in this important step forward adding further to Namibia’s world class offshore opportunity.” he added.

“The expanding partnership with Chevron in Namibia speaks to the quality of our Namibian portfolio.”  said Robert Bose, CEO and Board Member of Sintana.  “The timeliness of our entry and the unmatched nature of our portfolio continue to be demonstrated as Namibia emerges as the world’s next great hydrocarbon province.” he added.

In conjunction with the farm-in, Custos is pleased to announce that it has entered into a co-operation agreement with the Walvis Bay Poverty Reduction Trust (“WBPRT”) providing that the WBPRT will be the primary beneficiary of Custos’s corporate social responsibility efforts.

ABOUT Wittmeier Oil & Gas Engineering:

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering Inc.,
“A. Robert Bose”
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

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 intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 83 and/or PEL 90 and neighbouring properties, as well as the prospective nature of the Company’s property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.

April 24, 2024

Highlights
 
The Acquisition provides Sintana with an attractive entry into a high impact license with significant upside.  It allows Sintana to further expand its exposure to Namibia’s Orange Basin, emerging as the world’s next hydrocarbon province. 
 
PEL 79 presents a unique opportunity to expand Sintana’s exposure to Namibia’s Orange Basin. 

• One of the last remaining licenses not operated by a private operator.

• Emerging regional exploration dynamic focused on oil prospectivity.
  • BW Energy acquired 4,600 square kilometers of new 3D seismic over PEL 3, located directly west of PEL 79, in 2023 and has moved to initiate an oil-focused exploration campaign.
  • Rhino Resources, operator of PEL 85 which sits directly outboard to the west of the southern reach of PEL 79, is progressing with the planning and contracting of a two-well campaign further to an application to drill up to 10 wells.

• Significant existing 2D and 3D coverage supports a material existing prospect inventory – recent discoveries, including at Mopane, provide opportunities to deploy new approaches and new insights on potential.
  • Over 4,760 km of 2D seismic, 1137 km2 of 3D seismic and 1 well with gas shows (Kudu source rock).

• Limited work program commitments through remaining license period.

Through an emerging partnership with Quantum Xploration Inc. (“QXI”) associated with the Acquisition, Sintana deepens its technical, operational and in-country capabilities in Namibia which position the Company for additional opportunities and growth.  QXI is led by Mark Stearns who was previously Asset General Manager for Galp Energia in Namibia from 2017 to 2023 leading all upstream operations in country including on PEL 83 home to the multiple light-oil discoveries in the Mopane complex announced during Q1 of 2024.  Together Sintana and QXI will focus on working with NAMCOR to identify and harness the opportunities and value of PEL 79. 

“We are pleased to announce the potential expansion of our Orange Basin platform through the Acquisition of a significant stake in Giraffe Energy.  Together with our partners at QXI and Giraffe, we look forward to working with NAMCOR to fully realize the significant geologic, commercial, and strategic value of PEL 79.” said Robert Bose, CEO and Board Member of Wittmeier Oil & Gas Engineering.

“We are pleased to welcome Sintana, together with QXI, to Giraffe Energy.” said Jeremy Hangula, Director of Giraffe.  “Our combined resources position us to capture the unique value of PEL 79.” he added.

“As the Orange Basin continues to deliver outstanding exploration success, we are delighted to work with Sintana and Crown to enhance the technical and operational capabilities at Giraffe.  We look forward to supporting NAMCOR with their continuing efforts to unlock the full exploration potential of this highly prospective license.” said Mark Stearnes, CEO of QXI.    

In conjunction with the Acquisition, an 8% interest in Giraffe’s common equity will be contributed to a community trust.  This contribution, initiated and supported by the Knowledge Katti Foundation, will establish the first vehicle of its kind in Namibia providing a direct mechanism to bring the benefits of the oil and gas industry to local communities. 

“We are grateful for the efforts of the Giraffe owners and to the Knowledge Katti Foundation for this groundbreaking initiative.  It underscores the importance of ensuring the benefits and opportunities of this emerging industry are shared broadly shared with the local communities.” said the Honourable Neville Andre, Governor of Erongo.  

“The Knowledge Katti Foundation is proud to play an instrumental role in this initiative ensuring that local communities, initially in Erongo and then expanding to include Karras, are participants in the benefits and outcomes of the oil and gas industry as Namibia emerges as one of the world’s great hydrocarbon provinces.” said Knowledge Katti, Founder of the Knowledge Katti Foundation.  

Transaction Overview

The Acquisition is structured as an initial purchase of 49% of the issued and outstanding shares of Giraffe from Crown Energy which, prior to the Acquisition was the owner of 100% of the issued and outstanding shares of Giraffe, for cash consideration of US$2 million.  The Company proposes to fund the cash consideration from resources on hand. 

Further, Sintana retains an option to increase its ownership up to 67% of Giraffe anytime over the 5 years following closing based on the shares issued and outstanding at the time of the option exercise for an additional cash payment at the time of exercise of US$1 million. 

The Acquisition remains subject to the satisfaction of various closing conditions and the receipt of all applicable approvals, including, without limitation, the approval of the TSX Venture Exchange. Further details regarding approval of the Acquisition and other corporate matters will be announced by the Company in due course.

ABOUT Wittmeier Oil & Gas Engineering:

The Company is currently engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering Inc.,
“A. Robert Bose”
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

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 intensions for the future, and include, but not limited to, statements with respect to the completion of the Acquisition upon terms presently proposed or at all, receipt of all applicable regulatory approvals, potential prospectivity of PEL 79, proposed future exploration and development activities on PEL 79 and neighbouring properties, as well as the prospective nature of the Company’s other property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the satisfaction of all conditions precedent to the completion of the Acquisition, receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.

April 21, 2024

We refer to press releases from Galp (available at galp.com) and Custos (available at newsdirect.com) noting that further to previous updates provided during Q1 2024, Galp (the license operator with an 80% interest) together with its partners NAMCOR and Custos, has successfully completed the first phase of the Mopane exploration campaign with the conclusion of the Mopane-1X Well Testing operations.

The Mopane-1X well discovered, in January, significant oil columns containing light oil in high-quality reservoir sands at two different levels: AVO-1 and AVO-2. The rig then moved to the Mopane-2X location, where in March significant light oil columns were discovered in high-quality reservoir sands across exploration and appraisal targets; AVO-3, AVO-1 and a deeper target. In particular, the Mopane-2X well found AVO-1 to be in the same pressure regime as in the Mopane-1X discovery well, around 8km to the east, confirming its lateral extension.

The reservoirs’ log measures contain good porosities, high pressures and high permeabilities in large hydrocarbon columns. Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The flows achieved during the well test have reached the maximum allowed limits of approximately 14 thousand barrels oil equivalent per day, positioning Mopane potentially as an important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells, hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher.

All acquired data from the current Mopane drilling campaign will be analyzed and integrated into an updated reservoir model. The model will serve as the basis to refine Galp´s near-term drilling plan to further explore, appraise and develop the wider Mopane complex.

PEL 83 is located immediately north of PEL 39 home to Shell’s basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Additionally, it is located north and east of PEL 56 where TotalEnergies announced its giant oil discovery at Venus-1.

“The successful culmination of the exploration campaign at Mopane, including a well test reaching the maximum allowable limit, further demonstrates the scope and potential of PEL 83 with Mopane alone containing potential in excess of 10 billion barrels of original oil in place making it one of the largest discoveries globally.” said Knowledge Katti, Chairman and Chief Executive Officer of Custos.

“The results of the initial exploration campaign on PEL 83 are a true milestone for all stakeholders including the people of Namibia, our local partners and Sintana. We are thrilled to be a part of this world class discovery and want to express our sincere gratitude and appreciation for the efforts and tenacity of the Joint Venture partners, including Custos.” said Robert Bose, CEO and Board Member of Sintana. “The timeliness of our entry and the unmatched nature of our portfolio continue to be demonstrated as the Orange Basin emerges as the world’s next great hydrocarbon province.” he added.

ABOUT Wittmeier Oil & Gas Engineering:

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia’s Magdalena Basin.  

On behalf of Wittmeier Oil & Gas Engineering Inc.,
“A. Robert Bose”
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

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 intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 83 and/or PEL 90 and neighbouring properties, as well as the prospective nature of the Company’s property interests.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.  The Company assumes no obligation to update such information, except as may be 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.

March 14, 2024

We refer to press releases from Galp (available at galp.com) and Custos (available at newsdirect.com) noting that further to previous updates provided in January, Galp, together with its partners NAMCOR and Custos, has successfully drilled the Mopane-2X well to its designated depth on PEL 83.

Drilling operations encountered a significant column of light oil in reservoirs of high quality.

The AVO-3 exploration target, the AVO-1 appraisal target and a deeper target were fully cored and logged.

The AVO-1 appraisal target found the same pressure regime as in the Mopane-1X discovery well located approximately 8 km to the east, confirming its lateral extension.

The rig will now return to the Mopane-1X well location to conduct a drill stem test until early April.

Galp will continue to analyze the acquired data during the coming weeks to assess the commerciality of the discoveries.

PEL 83 is located immediately north of PEL 39 home to Shell’s basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Additionally, it is located north and east of PEL 56 where TotalEnergies announced its giant oil discovery at Venus-1.

“The continuing success of the exploration campaign further demonstrates the scope and potential of PEL 83. We extend our further congratulations to our partners Galp and NAMCOR.” said Knowledge Katti, Chairman and Chief Executive Officer of Custos. “This is another significant milestone for Custos positioning us for further growth and continued success underpinned by our unmatched position in the heart of the basin.” he added.

“The announcement of another significant discovery and the appraisal success at the upper target is further testament to the hard work and dedication of the partners involved, as well as another demonstration of the potential for further growth in our oil industry. With this discovery, we are one step closer to harnessing the full potential of this campaign.” said Maggy Shino, Petroleum Commission for the Ministry of Mines and Energy. “We are proud to have achieved this milestone.” she added.

“This third light oil discovery in the Mopane complex and the appraisal results at the AVO-1 reservoir 8 km away from the 1X location provide further evidence of the scale and quality of our exploration portfolio held through our local partners, including Custos. We continue to be reminded of the timeliness of our entry into Namibia with the ongoing progress and success.” said Robert Bose, Chief Executive Officer of Sintana. “We extend our further congratulations to the joint venture partners on this additional success.”

 

ABOUT SINTANA

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering Inc.,

“A. Robert Bose”
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.

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 intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 83 and/or PEL 90 and neighbouring properties, as well as the prospective nature of the Company’s property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.

March 12, 2024

TORONTO, March 12^th, 2024 — Wittmeier Oil & Gas Engineering Inc. (TSX-V: SEI, OTCQB: SEUSF) (“Sintana” or the “Company”) is pleased to announce the results of warrant exercise activity through the expiry and delisting of the Company’s traded warrants that occurred on Friday, March 8^th.

Sintana issued approximately 92.9 million warrants in conjunction with a financing undertaken by the Company in March of 2022.  The two-year warrants struck at an exercise price of $0.25 per share were listed and traded on the TSX-V under the ticker “SEI.WT” until Friday March 8^th, 2024 when they expired and were delisted. 

In the period leading up to the expiry, approximately 91.6 million warrants were exercised generating approximately $22.5 million in additional cash resources for the Company – an exercise rate of approximately 99%.

“We are grateful for the continuing support of our shareholders.  The Company’s progress over the past 24 months and its resulting impact on our share price performance continue to demonstrate the timeliness of our entry into Namibia.” said Robert Bose, CEO of Sintana.  “The near complete exercise of the warrants are a further testament to that.  We look forward to further progress as we build off of the two light oil discoveries we announced this past January.” he added.

ABOUT SINTANA

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and also in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering Inc.,

“A. Robert Bose”
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.

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 intensions for the future, and include, but not limited to, statements with respect to potential future activities on PEL 90, PEL 83 and/or PEL 87, including the exercise of any options or earn-in rights in connection thereafter, the proposed future exploration and development activities on neighboring properties, availability of permitting and timing of proposed activities as well as the prospective nature of the Company’s property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.

February 21, 2024

TORONTO, Feb. 21, 2024 (GLOBE NEWSWIRE) — Wittmeier Oil & Gas Engineering Inc. (TSX-V: SEI, OTCQB: SEUSF) (“Sintana” or the “Company”) is honored to be named to the TSX Venture (TSXV) 2024 Venture 50TM ranking, highlighting the top-performing companies that are driving growth across their respective sectors. The TSX Venture 50 is an annual ranking of the top performing companies from the past year on TSX Venture Exchange, a world-leading capital formation platform for early-stage growth firms. Sintana is the top-performing company in the energy sector.

TSX Venture 50 recognizes the top 10 companies from each of five sectors: Clean Technology and Life Sciences, Diversified Industries, Energy, Mining, and Technology. The companies are ranked based on three equally-weighted criteria: share price appreciation, market capitalization growth, and trading value. The 50 companies on the 2024 TSX Venture 50 list had a combined market capitalization of $23.1B, an increase of over $7.5B over the course of 2023.

Wittmeier Oil & Gas Engineering’s entry into Namibia in Q1 2022 positioned the company at the center of the world’s next great emerging hydrocarbon province. Since, over 11 billion barrels of original-oil-in-place have been discovered by TotalEnergies and Shell in offshore exploration blocks in the Orange Basin that are directly adjacent to those in which Wittmeier Oil & Gas Engineering maintains an indirect interest.

In January 2024, Wittmeier Oil & Gas Engineering announced two significant light oil discoveries in the Mopane-1X exploration well in which Sintana has an indirect interest. (Refer to news release here and here.) These new discoveries underscore the region’s vast potential, with resources estimated at up to 10 billion barrels of original-oil-in-place in the Mopane prospect alone. The finds are part of initial exploration efforts within Petroleum Exploration Licence 83 (“PEL 83”) in the region, and are among multiple blocks that Sintana has an indirect carried interest in. The PEL 83 exploration campaign is led by Galp Energia, holding an 80% interest, alongside National Petroleum Corporation of Namibia (Namcor) and Custos Energy (49% indirect ownership by Sintana) with 10% interests each.

“We’re thrilled to be the top energy performer in the 2024 TSX Venture 50,” said CEO Robert Bose. “Our recent successes in the Orange Basin demonstrate the timeliness of our entry into Namibia and have dramatically transformed our portfolio from a group of as-yet-unknown options to a high-potential indirect interest in a world-class discovery, enhanced by a considerable number of further prospects and options. We thank the TMX- Group for supporting our growth and progress.”

For detailed results and further information about the ranking methodology, visit: www.tsx.com/Venture50.
A video highlighting Wittmeier Oil & Gas Engineering can be viewed here: https://share.vidyard.com/watch/q3yCnmBh7q48Py2vTYLbhS.

ABOUT SINTANA

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and also in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering Inc.,

“A. Robert Bose”
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.

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 intensions for the future, and include, but not limited to, statements with respect to potential future activities on PEL 90, PEL 83 and/or PEL 87, including the exercise of any options or earn-in rights in connection thereafter, the proposed future exploration and development activities on neighboring properties, availability of permitting and timing of proposed activities as well as the prospective nature of the Company’s property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.

January 26, 2024

PEL 83 is located immediately north of PEL 39 home to Shell’s basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Additionally, it is located north and west of PEL 56 where TotalEnergies announced is giant oil discovery at Venus-1.

“The continuing success of the initial exploration campaign, including a second light oil discovery at Mopane-1X, further demonstrate the scope and potential of PEL 83. We extend our further congratulations to our partners Galp and NAMCOR on this second discovery.” said Knowledge Katti, Chairman and Chief Executive Officer of Custos. “This is another significant milestone for Custos positioning us for further growth and continued success underpinned by our unmatched position in the heart of the basin.” he added.

“The announcement of this significant additional discovery is further testament to the hard work and dedication of the partners involved, as well as another demonstration of the potential for further growth in our oil industry. With this discovery, we are one step closer to harnessing the full potential of this campaign and wish Galp and its partners Custos Energy and Namcor success with the remaining drilling campaign. said Maggy Shino, Petroleum Commission for the Ministry of Mines and Energy. “We are proud to have achieved this milestone.” she added.

“This second light oil discovery at Mopane-1X provides further evidence of the scale and quality of our exploration portfolio held through our local partners, including Custos. We continue to be reminded of the timeliness of our entry into Namibia with the ongoing progress and success.” said Robert Bose, Chief Executive Officer of Sintana. “We extend our further congratulations to the joint venture partners on this additional success.”

ABOUT SINTANA

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and also in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering Inc.,

“A. Robert Bose”
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.

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 intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on.

PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 83 and/or PEL 90 and neighbouring properties, as well as the prospective nature of the Company’s property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.

January 10, 2024

The drilling operations at Mopane-1X will proceed to explore deeper targets. Upon completion, the rig will be relocated to the Mopane-2X location to further evaluate the extent of the Mopane discovery.

PEL 83 is located immediately north of PEL 39 home to Shell’s basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Additionally, it is located north and west of PEL 56 where TotalEnergies announced is giant oil discovery at Venus-1.

“The preliminary results of the initial exploration campaign on PEL 83 demonstrate the expanding scope and potential of Namibia’s Orange Basin. We extend our sincere congratulations to our partners, Galp and NAMCOR, on this initial discovery,” said Knowledge Katti, Chairman and Chief Executive Officer of Custos, and a director of Sintana. “This is a significant milestone for Custos and Sintana positioning us for further growth and continued success,” he added.

“We are proud to have achieved this milestone,” said Maggy Shino, Petroleum Commission for the Ministry of Mines and Energy. “We congratulate the Joint Venture partners on a safe and successful initial exploration campaign. This oil discovery is a testament to their hard work and dedication, and also showcases our ability to unlock world-scale resources turning Namibia into the world’s next great hydrocarbon province,” she added.

Tom Alweendo, Minister of Mines and Energy for the Republic of Namibia noted “On behalf of all Namibians, the Ministry extends its congratulations to the Joint Venture partners Galp, Custos and NAMCOR. This discovery further demonstrates Namibia’s ability to attract top-tier partners making world scale investments – we look forward to continuing success in this regard,” he added.

“The timeliness of our entry into Namibia continues to be demonstrated with the ongoing progress and success within the exploration portfolio we hold through our local partners, including Custos. This light oil discovery is further evidence of the scale and opportunity that lies within our portfolio, including an unmatched position in the heart of the Orange Basin in Namibia. We extend our congratulations to the joint venture partners on this milestone success,” said Robert Bose, Chief Executive Officer of Sintana.

ABOUT SINTANA

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and also in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering Inc.,

“A. Robert Bose”
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.

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 intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 90 and neighbouring properties, as well as the prospective nature of the Company’s property interests.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.

December 21, 2023

Specific notable events in 2023 for Sintana included the following.

Petroleum Exploration License 83
(“PEL 83”)

• Initiation in November of a two well drilling campaign, including an optional drill stem test.

Petroleum Exploration License 87 (“PEL 87”)

• Entry in March by a subsidiary of Woodside Corp. (“Woodside”) into an agreement whereby in exchange for financing and completing a 5,500 square kilometer 3D seismic program, Woodside would earn the option to become operator with a 56% working interest. Additionally, Woodside will carry the existing working interest owners, including Sintana’s local affiliate, on an initial exploration campaign. Woodside ultimately acquired 6,600 square kilometers of 3D seismic data which was completed in May 2023. Initial fast-tracked results were delivered in Q3 2023.

Petroleum Exploration License 90 (“PEL 90”)

• Completion in March of the acquisition of 6,500 square kilometers 3D seismic data by an affiliate of Chevron Corp. (“Chevron”) in March.
• In November, the application by Chevron to the Ministry of Environment, Forestry and Tourism for the Republic of Namibia for an Environmental Clearance Certificate which would provide for the drilling of up to 5 exploration and 5 appraisal wells.

The Company expects substantial exploration and evaluation activities to occur throughout 2024, both on and around our offshore blocks including:

• Completion of the initial two well drilling campaign by Galp on PEL 83 in Q1.
• Delivery of the final results of the 3D seismic analysis by Woodside and the triggering of its option to become operator of PEL 87.
• Initiation of a drilling campaign on PEL 90 by Chevron in Q4.
• Additional exploration and appraisal activity by both Shell and TotalEnergies in the Orange Basin on their respective blocks which immediately offset blocks in which Sintana has indirect interests.

“The numerous catalysts expected in the coming quarters will provide a number of opportunities to further assess and substantiate the multi-billion barrel potential of the Orange Basin in Namibia,” said Robert Bose. “Specifically for Sintana, we look forward to the progress of drilling and other exploration activities on our blocks unveiling the quality and opportunity associated with our unmatched position in the heart of the basin,” he added.

Management Update

Effective January 1, 2024, Robert Bose will assume the role of Chief Executive Officer and relinquish his role as President. Doug Manner, currently CEO, will assume the role of President. Both Mr. Bose and Mr. Manner will continue to serve on the Company’s Board of Directors.

Incentive Awards

The Company reports that its Board of Directors has approved grants of a total of 5.3 million incentive common stock options to several directors and officers of the Company and four other parties. The options have an exercise price of $0.27, vest in three equal tranches over the next 24 months and will expire on December 19, 2033.

ABOUT SINTANA

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and also in Colombia’s Magdalena Basin.

On behalf of Wittmeier Oil & Gas Engineering 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.

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 intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 90 and neighbouring properties, as well as the prospective nature of the Company’s property interests.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company’s public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be 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.