Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF) said on Thursday it has published an admission document for the listing of its shares on London’s AIM market, with trading expected to begin on December 23, marking a further step in the company’s expansion following its recent acquisition of Challenger Energy Group.
The Canada-based oil and gas explorer said its common shares, represented by depositary interests, will trade on AIM while continuing to be listed on the TSX Venture Exchange in Canada and the OTCQX market in the US.
CEO Robert Bose said the AIM admission follows the completion of the Challenger Energy acquisition and is intended to provide liquidity for UK-based shareholders. “We look forward to our expected admission for trading and upcoming first day of dealings,” Bose said in a statement.
Sintana holds a portfolio of direct and indirect interests across multiple frontier and emerging hydrocarbon basins, including offshore and onshore licences in Namibia and Uruguay, with a pending indirect interest in Angola. The company also has legacy assets in Colombia and The Bahamas.
Its portfolio is anchored by an indirect carried interest in petroleum exploration licence 83 in Namibia’s Orange Basin, which hosts the Mopane discoveries made in 2023 and 2024. Additional interests span other licences in Namibia’s Orange, Walvis and Waterberg basins, as well as offshore blocks in Uruguay acquired through the Challenger transaction completed in December.
The company said its strategy focuses on maintaining carried interests alongside major international partners such as Chevron, Galp and Namibia’s national oil company NAMCOR, limiting its capital exposure while retaining upside to exploration success.
Sintana said its market capitalization on admission is expected to be about £107 million, supported by more than $10 million in cash and liquid resources.
In a separate update, the company said Uruguay’s Ministry of Environment earlier this month issued permits allowing offshore seismic acquisition, but that two local environmental groups have since launched a legal action seeking to halt all offshore oil and gas activity. The judge declined to grant an immediate injunction and ordered industry participants, including Sintana and Chevron, to submit responses by December 26.
Sintana said it considers the legal action to be without merit and is working with regulators and partners on its response.
Shares of Sintana added 6.5% on Thursday at $0.41.