Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, FRA:3ZX1, AIM:SEI) announced that its joint venture partner, Pancontinental Energy Limited, has received approval from the Namibian Ministry of Industry, Mines and Energy to extend the First Renewal Exploration Period of Petroleum Exploration License 87 (PEL 87).
Pancontinental Energy, the operator of PEL 87, was granted a 12-month extension, running until January 22, 2027.
PEL 87 covers blocks 2713A and 2713B offshore Namibia. Sintana holds a 7.4% indirect carried interest in the license.
As part of the extension, the joint venture is required to complete several work commitments, including conducting an environmental impact assessment (EIA), reprocessing and interpreting 3D seismic data, and drilling an exploration well.
The EIA process began in 2025 and is already underway, the company said. Meanwhile, the seismic reprocessing program will focus on a portion of the existing 3D dataset, with the aim of improving signal quality in targeted areas.
"We are grateful to the Minister for the extension of PEL 87,” Sintana Energy CEO Robert Bose said. “We look forward to the continued refinement of the existing seismic work in anticipation of securing a farm-in partner to progress the project to a focused drilling program."