Sintana Energy (TSX-V:SEI, OTCQB:SEUSF) has updated investors on positive developments at exploration licenses 83 (PEL 83) and 90 (PEL 90) located in the Orange Basin, Namibia.
The company noted an announcement from Custos Energy, in which Sintana Energy (TSX-V:SEI, OTCQB:SEUSF) holds a 49% indirect interest, that confirmed that the Mopane 2X exploration well located on blocks governed by PEL 83 has been spud.
Custos owns a 10% working interest in PEL 83 which is being operated by Galp during the exploration phase.
“The significant prospectivity of PEL 83, together with its relatively shallower water depth, position it to be one of the most significant and profitable opportunities in the Orange Basin,” Sintana Energy (TSX-V:SEI, OTCQB:SEUSF) director and Custos Energy CEO, Knowledge Katti said in a statement.
Meanwhile, at PEL 90 Sintana Energy confirmed the filing of an application for an Environment Clearance Certificate by an affiliate of Chevron Corporation (NYSE:CVX) with the Ministry of Environment, Forestry and Tourism for the Republic of Namibia.
The certificate would allow for the drilling of up to five exploration and five appraisal wells beginning in the fourth quarter of 2024 on block 2813B, which is governed by PEL 90.
The company, through its investment in InterOil, holds a 49% indirect interest in Trago Energy, which is a 10% working interest owner in PEL 90.
“The continuing activity on all our Namibian Orange Basin blocks demonstrates the unmatched quality of our position in the heart of this world-class opportunity,” Sintana Energy president and director Robert Bose commented.
Sintana Energy is engaged in petroleum and natural gas exploration and development activities in five large, highly prospective, onshore and offshore petroleum licenses in Namibia as well as in Colombia’s Magdalena Basin.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie