Sintana Energy Inc. Announces Admission to Trading on AIM

Core Viewpoint - Sintana Energy Inc. has successfully listed its common shares on the AIM market of the London Stock Exchange, marking a significant milestone following its acquisition of Challenger Energy Group and aiming to enhance liquidity for shareholders [1][3]. Company Overview - Sintana Energy holds a diversified portfolio of interests in high-impact assets across multiple jurisdictions, including eight licenses in Namibia and Uruguay, and a pending interest in Angola, along with legacy assets in Colombia and The Bahamas [4][27]. - The portfolio is anchored by significant discoveries at Mopane in Namibia, providing exposure to various geological plays and regulatory environments [5][27]. Market Position and Strategy - The company’s market capitalization at the time of admission is approximately £128 million, positioning it as a notable player in the small-cap exploration sector [11]. - Sintana's strategy focuses on maintaining a portfolio that is predominantly carried through exploration and development by experienced operators, minimizing capital exposure for shareholders [9][11]. Exploration Focus - Sintana's current exploration activities are concentrated in Namibia and Uruguay, both recognized as global exploration hotspots, with ongoing seismic campaigns and drilling expected over the next 24 months [6][7]. Partnerships and Collaborations - The company has established partnerships with reputable operators such as Chevron and Galp in Namibia and Uruguay, enhancing its operational capabilities and resource access [7][10]. Financial Arrangements - Sintana has entered into a facility agreement with Charlestown Energy Partners for a working capital facility of up to US$4 million, intended as a standby source of funding [13][14]. - The facility is unsecured and available until June 30, 2028, with specific terms regarding drawdowns and interest rates [15][17]. Share Issuance and Severance - In connection with the acquisition, Sintana issued 2,512,943 common shares as severance payments to certain directors and officers, valued at a total of CDN$1,417,030 [21][22]. - The issuance of these shares is classified as a related party transaction but is exempt from formal valuation and minority shareholder approval under applicable regulations [23][19]. Total Voting Rights - Following the admission, Sintana's issued and outstanding share capital will consist of 510,356,240 common shares, which shareholders can use to determine their interest in the company [25].