Sintana Energy Inc. Announces VMM-37 Resolution

Core Viewpoint - Sintana Energy Inc. has successfully resolved its arbitration with ExxonMobil regarding the VMM-37 block in Colombia, leading to a conditional assignment of rights and interests to ExxonMobil and cash payments to Sintana [1] Group 1: Arbitration Resolution - Sintana's subsidiaries, Patriot Energy Oil and Gas Inc. and Patriot Energy Sucursal Colombia, reached an agreement to dismiss the arbitration against ExxonMobil [1] - The resolution includes a conditional assignment of all rights and interests associated with the VMM-37 block to ExxonMobil [1] Group 2: Financial Terms - ExxonMobil will make two cash payments to Patriot: the first payment of $3 million is due within sixty days of execution, and the second payment of $6 million is contingent upon governmental approval [1] - The second payment will also include mutual releases between the parties involved [1]