Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, FRA:3ZX1, AIM:SEI) noted its cash balance rose to US$15.5 million at the end of June, giving the Atlantic Margin explorer funding for its currently committed activities over the next 12 months as several drilling and seismic catalysts approach.
The explorer, in its interim results statement, reported it ash increased from US$10.3 million at the end of 2025 after the company completed an US$11.5 million gross fundraising in May. Sintana remains debt-free and also has access to an undrawn US$4 million working-capital facility. A further US$6 million is expected from ExxonMobil before year-end, subject to Colombian government approvals relating to the VMM-37 settlement.
The group's second-quarter net loss widened to US$3.1 million from US$2.2 million, mainly as exploration expenditure increased to US$385,000 and general and administrative costs rose 79% to US$3.7 million following the acquisition of Challenger Energy. A US$951,000 foreign-exchange gain partly offset the increase.
Operationally, TotalEnergies' move into Namibia's PEL 83 is expected to pave the way for a three-well exploration and appraisal campaign at Mopane through 2027, targeting a final investment decision in 2028.
Chevron is also planning the Nabba-1X exploration well on PEL 90 in the fourth quarter of 2026, while fast-track seismic results from Uruguay's AREA OFF-1 licence are expected in the same quarter.
Sintana is separately working to complete its acquisition of an indirect 35% interest in Namibia's PEL 37 during 2026, under a US$6.5 million transaction announced earlier this month.
