Business
Portfolio Update
TORONTO, ON / ACCESS Newswire / March 30, 2026 / Sintana Energy Inc. (TSX-V:SEI)(AIM:SEI)(OTCQ...
About this update from Sintana Energy Inc.
[{"type":"text","content":"Portfolio UpdateTORONTO, ON / ACCESS Newswire / March 30, 2026 / Sintana Energy Inc. (TSX-V:SEI)(AIM:SEI)(OTCQX:SEUSF) (\"Sintana\" or the \"Company\") , the Atlantic-margin focused oil and gas company, is pleased to provide the following update on developments across its portfolio of high-impact assets.Highlights57% increase to Mopane 3C contingent resource - Sintana net interest now ~67 mmboeAREA OFF-1 Uruguay seismic underway, with 22% of planned season one acquisition completedStrong regional momentum in Uruguay continues, with Chevron and QatarEnergy farming-in to multiple offshore blocks adjacent to the Company's AREA OFF-3 block$3m cash received from ExxonMobil as first instalment of agreed Colombia settlementRobert Bose, CEO of Sintana, said: \"Over the past two weeks, it has been extremely encouraging to see a number of positive catalysts unfold across our portfolio. In Namibia, as the holder of a carried 4.9% indirect interest in PEL 83, we benefit from a substantial 57% increase in the Mopane contingent resource base, taking our interest to 67 mmboe. This comes ahead of a three well drilling campaign that TotalEnergies is planning to commence later this year and which we expect should further expand what is already a world-scale project, as it progresses toward FID in 2028 and first oil in 2032.\"In Uruguay, the 3D seismic acquisition is now well underway on our AREA OFF-1 block, and the news that Chevron and QatarEnergy have farmed-in to multiple offshore blocks adds to the strong regional momentum we are seeing, and reinforces the excitement we feel about the country. Meanwhile, we have received the first instalment of settlement proceeds relating to our exit from Colombia, strengthening our balance sheet and demonstrating our ability to successfully monetize non-core assets at the appropriate time. We look forward to sharing more updates with shareholders as the year progresses.\"Namibia - Mopane Resource UpgradeOn 23 March 2026, Galp Energia released its Integrated Management Report 2025, detailing a significant upgrade to 3C contingent resources within the Mopane complex on PEL 83, offshore Namibia. The previously reported 3C contingent resource of 875 mmboe (gross) has been upgraded to 1.38 bnboe (gross), marking a substantial 57% increase following the success of Galp Energia's exploration and appraisal drillin...