Sintana Energy Provides Update on Namibian Oil Exploration
Toronto, Canada, March 17, 2025 – Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF), a Canadian energy company, has released an update on the recent developments associated with blocks 2713A and 2713B in Namibia’s Orange Basin. These blocks are governed by Petroleum Exploration License 87 (PEL 87), which is operated by Pancontinental Orange Pty Ltd., a subsidiary of Pancontinental Energy NL (ASX:PCL), holding a 75% interest. Custos Investments (Pty) Ltd. (“Custos”) owns a 15% interest, and the National Petroleum Corporation of Namibia (“NAMCOR”) holds a 10% interest. Sintana Energy has a 49% indirect interest in Custos.
Background on Namibian Oil Exploration
The Orange Basin, located off the coast of Namibia, is gaining significant attention due to its potential oil reserves. The blocks 2713A and 2713B are situated in the southern part of the basin, approximately 180 kilometers west of Walvis Bay. The exploration of these blocks began in 2014, and since then, several companies have shown interest in the area due to the presence of promising hydrocarbon prospects.
Recent Developments
According to Sintana Energy’s press release, the Company’s partner, Pancontinental Orange, has completed the drilling of the first exploration well in the blocks, named “Mukuludze-1.” The well was drilled to a total depth of 3,316 meters and encountered multiple hydrocarbon reservoirs. The results of the analysis of the drilled samples are currently being evaluated to determine the commercial viability of these discoveries.
Impact on Sintana Energy
Sintana Energy’s indirect 49% ownership in Custos, which holds a 15% interest in PEL 87, positions the Company for potential financial gains if the hydrocarbon discoveries in blocks 2713A and 2713B prove to be commercially viable. The successful exploration of these blocks could lead to increased revenue and potential growth opportunities for Sintana Energy.
Impact on the World
The successful exploration of blocks 2713A and 2713B in Namibia’s Orange Basin could have significant implications for the global energy market. Namibia’s offshore oil reserves are estimated to be substantial, with some experts suggesting that they could potentially rival those of the Gulf of Mexico. The successful development of these reserves could contribute to the global energy supply and help reduce dependence on traditional oil-producing regions. Moreover, it could provide economic benefits to Namibia and the region as a whole.
Conclusion
Sintana Energy’s update on the recent developments in Namibia’s Orange Basin is an exciting step forward in the exploration of potential oil reserves in the region. The successful drilling of the Mukuludze-1 well and the discovery of multiple hydrocarbon reservoirs are promising signs for the future of energy production in Namibia. Sintana Energy’s indirect ownership in Custos positions the Company for potential financial gains, while the successful development of these reserves could have significant implications for the global energy market and the Namibian economy.
- Sintana Energy Inc. has a 49% indirect interest in Custos, which holds a 15% interest in PEL 87.
- The first exploration well, Mukuludze-1, has been drilled in blocks 2713A and 2713B.
- Multiple hydrocarbon reservoirs have been discovered in the well.
- The successful exploration of these blocks could lead to increased revenue and growth opportunities for Sintana Energy.
- The potential development of Namibia’s offshore oil reserves could contribute to the global energy supply and reduce dependence on traditional oil-producing regions.
