Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, FRA:3ZX1, AIM:SEI) said it expects a busy second half of 2026 after reporting “multiple tangible achievements” across its Atlantic Margin oil and gas portfolio in the first half of the year.
The company highlighted progress in Namibia, where TotalEnergies’ planned farm-in to PEL 83 would see the major take operatorship and carry a three-well exploration and appraisal campaign, expected to start in the second half.
The Mopane project has also seen a 57% resource upgrade to 1.38 billion barrels of oil equivalent gross, equating to around 67 million barrels net to Sintana’s indirect interest.
Chevron, meanwhile, is expected to drill a high-impact exploration well on PEL 90 by the end of 2026, with Sintana funded for its share, while a PEL 82 well is guided for 2027, with Sintana fully carried. The company also expects to complete a modest-cost acquisition of a position in PEL 37 in the near term.
In Uruguay, Sintana said the first season of 3D seismic at AREA OFF-1 has been completed, with fast-track results due in the second half and a second seismic season planned for the fourth quarter. A farm-out process continues for AREA OFF-3, where Sintana pointed to rising interest in adjacent acreage from QatarEnergy, Chevron and ENI.
Corporate activity included completion of the Challenger Energy acquisition, integration of the assets, and a cash settlement with ExxonMobil linked to legacy Colombian interests.
Sintana ended June with about US$16.1 million in cash, including US$700,000 in restricted cash, and expects a further US$6.75 million of inflows over the next six months, leaving it “fully funded” for the upcoming catalyst period.
