Core Insights - Sintana Energy Inc. provides an update on its interests in blocks 2813A and 2814B in Namibia's Orange Basin, holding an effective 4.9% interest in Petroleum Exploration License 83 (PEL 83) through Custos Energy [1][5] - TotalEnergies has entered an agreement with Galp to take over operatorship of PEL 83 and acquire a 40% participating interest, enhancing the project's operational capacity [3][4] - The agreement includes a commitment to conduct an exploration and appraisal campaign with at least three wells planned over the next two years [4][6] Company Developments - The transaction is subject to customary approvals from Namibian authorities and joint venture parties, with completion expected in 2026 [6] - Sintana's CEO highlighted the significance of TotalEnergies joining the partnership, emphasizing the quality and scale of the opportunity, particularly regarding discoveries at Mopane [7] - Sintana Energy is engaged in petroleum exploration and development across five licenses in Namibia and is in advanced stages to acquire Challenger Energy Group Plc, which will expand its portfolio in Uruguay [9]

Core Insights - Sintana Energy Inc. has received a 12-month extension for Petroleum Exploration License 79 (PEL 79) in Namibia, now valid until July 2026, allowing further exploration activities [2][6] - The joint venture partners include the National Petroleum Corporation of Namibia (NAMCOR) and Giraffe Energy Investments, with Sintana holding a 49% interest in Giraffe [2][3] - PEL 79 is strategically located near other licenses with significant oil discoveries, enhancing its potential value [3][5] Exploration and Development - PEL 79 is supported by extensive seismic data, including over 4,760 km of 2D seismic and 1,137 km² of 3D seismic, along with a well that has shown gas indications [3] - The area is experiencing increased drilling activity, with nearby operators like Rhino Resources having made significant oil discoveries, including a flow test of over 11,000 barrels per day from the Capricornus-1X well [5][6] - Sintana anticipates material progress across its Namibian offshore portfolio in the coming quarters, leveraging the extension of PEL 79 [6]