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]