Wittmeier Oil & Gas Engineering Inc. Grants Incentive Stock Options and Restricted Share Units

March 28, 2022

TORONTO, March 28, 2022 (GLOBE NEWSWIRE) — Wittmeier Oil & Gas Engineering Inc. (TSX-V: SEI) (“Wittmeier” or the “Company”) reports that its Board of Directors has approved grants of a total of 7,750,000 incentive common stock options to several directors and officers of the Company and six consultants. The options have an exercise price of $0.165, vest in three equal tranches over the next 24 months and will expire on March 24, 2027.

The Company also approved grants to several directors and officers of an aggregate of 4,550,000 restricted share units which vested on March 24, 2022.

About Wittmeier
The Company is currently engaged in hydrocarbons exploration and development activities in Colombia’s Magdalena Basin. Wittmeier’s business strategy is to acquire, explore, develop, and produce superior quality assets with significant reserves potential.

On behalf of Wittmeier Oil & Gas Engineering Inc.,

“Douglas G, Manner”
Chief Executive Officer

For additional information regarding Wittmeier and ongoing corporate activities, please visit the Company’s website at www.sintanaenergy.com

Corporate Contact:

Forward-Looking Statement

Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including statements as to the completion of the Offering, receipt of applicable regulatory approvals, proposed use of proceeds and completion of the proposed acquisition by the Company of 49% of the outstanding shares of Inter Oil (Pty) Ltd. These statements are subject to various risks and uncertainties, many of which are beyond the control of the Company, including risks related to the satisfaction of all outstanding closing conditions for the completion of the proposed acquisition of 49% of the outstanding shares of Inter Oil (Pty) Ltd. and/or Offering, the amount of funds raised pursuant to the Offering, if any, political and security risks relating to operations in Namibia, availability of capital, permitting and land title issues, the risks inherent in oil and gas exploration and development activities, and such other risk factors as are set forth in the Company’s continuous disclosure documents available on SEDAR 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 disclaims any obligation to update the forward looking statements contained herein other than as required under applicable securities laws.