Sintana Energy's Exciting Discoveries in Namibia's Orange Basin

Exciting New Developments with Sintana Energy

Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) is thrilled to announce significant updates from its ongoing exploration campaign in Namibia. The company has recently made noteworthy discoveries in the Orange Basin, particularly in the second campaign on blocks 2813A and 2814B, governed by Petroleum Exploration License 83 (PEL 83), which is managed by a subsidiary of Galp Energia, SGPS, S.A. With an indirect 49% interest in Custos Energy (Pty) Ltd., which holds a 10% working interest in PEL 83, Sintana's strategic position in this promising region is solidified.

Breakthrough Discoveries at Mopane 3-X Well

The PEL 83 Joint Venture partners have successfully drilled the Mopane-3X well (Well #5), which was initiated in early January and has already revealed fascinating opportunities. Located just 18 kilometers away from the Mopane-1X well, this site targeted two stacked prospects, AVO-10 and AVO-13, alongside a deeper sand formation at a water depth of around 1,200 meters.

Preliminary data gathered from this exploration indicates remarkable findings, with substantial columns of light oil and gas-condensate observed in high-quality sandstones of AVO-10. Confirmatory evidence of light oil columns in AVO-13 and the deeper sand formations further accentuates the potential of this area.

Encouraging Reservoir Characteristics

The reservoir log measures have shown promising assessments, highlighting good porosities, high pressures, and superior permeabilities in the discovered formations. Furthermore, initial fluid samples indicate low oil viscosity and minimal levels of CO2 and H2S concentrations, with samples promptly dispatched for detailed lab testing.

The higher-than-expected pressures encountered and the initial results from Mopane 3X open up exciting exploration and appraisal opportunities within the southeast region of the Mopane complex. All the data collected will play a crucial role in refining the reservoir model, guiding the planning of potential activities moving forward.

Future Seismic Development Campaign

A dedicated 3D seismic acquisition campaign is currently in progress and is expected to be completed in the first quarter of the year, with data processing to follow shortly after. This step is crucial for enhancing understanding and planning future exploration efforts in the basin.

Robert Bose, Chief Executive Officer of Sintana, shared his enthusiasm regarding these findings, stating, “These additional discoveries in an entirely new section further demonstrate the scale and quality of the Mopane complex.” He expressed confidence in the company's strategic positioning in the heart of Namibia's Orange Basin, combining this with their broader portfolio.

Joint Venture Collaborations and Future Prospects

Knowledge Katti, Chairman and CEO of Custos, celebrated the accomplishments of the joint venture team. “The stacked discoveries in this recent exploration program at Mopane illustrate the vast size and potential nestled within the complex,” he remarked. The successful outcomes echo the strength of collaboration within this venture and the commitment of all partners involved.

About Sintana Energy

Sintana Energy is actively engaged in petroleum and natural gas exploration and development, with licenses covering six expansive, highly prospective onshore and offshore regions in Namibia and Colombia’s Magdalena Basin. With an ambitious strategy and a focus on advancing their projects, Sintana aims at making significant contributions to the energy sector.

For those seeking further information and updates regarding Sintana’s projects and corporate activities, the company encourages visiting their official website.

Frequently Asked Questions

What is the significance of the Mopane-3X well?

The Mopane-3X well has unveiled substantial oil and gas resources, indicating high-quality sandstones and potential for further exploration in the area.

What are the initial findings from the Mopane 3X exploration?

Preliminary results show promising columns of light oil and gas-condensate, with encouraging reservoir characteristics denoting good porosities and high pressures.

Who are Sintana Energy's main partners in this project?

Sintana collaborates with Galp and NAMCOR, along with being indirectly involved with Custos Energy, ensuring a strong joint venture in PEL 83.

How does Sintana Energy plan to utilize the data collected?

The acquired data will be integrated into the reservoir model, guiding future exploration and development activities in the Mopane complex.

What future activities are anticipated by Sintana Energy?

Sintana Energy looks forward to completing its 3D seismic acquisition campaign and processing the data acquired for further development plans.

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