Portfolio Update – PEL 79 License Extension

Core Viewpoint - Sintana Energy Inc. has received a 12-month extension for Petroleum Exploration License 79 in Namibia, allowing further exploration and development activities until July 2026, amidst significant regional exploration activity [2][6]. Group 1: License and Joint Venture Details - PEL 79 is governed by a joint venture that includes Sintana Energy (49% ownership), National Petroleum Corporation of Namibia (67% operator), and Giraffe Energy Investments (33% interest) [2][3]. - The license covers blocks 2815 and 2915 in Namibia's Orange Basin, which is strategically located near other active licenses operated by BW Energy, Rhino Resources, and Shell [3][6]. Group 2: Exploration Potential - PEL 79 has a substantial prospect inventory supported by over 4,760 km of 2D seismic and 1,137 km² of 3D seismic data, along with one well showing gas indications intersecting the Kudu source rock [3][6]. - Adjacent exploration activities by Rhino Resources have resulted in significant discoveries, including the Capricornus-1X well, which produced over 11,000 barrels per day of light oil from a 38-meter net oil-bearing reservoir [5][6]. Group 3: Future Outlook - The extension of PEL 79 is expected to enhance Sintana's ability to capitalize on the geological and commercial potential of the area, with anticipated material progress across its Namibian offshore portfolio in the coming quarters [6][7].