Mr. Douglas Manner reports

RIG CONTRACT SIGNED FOR INITIAL EXPLORATION DRILLING CAMPAIGN ON PEL 83

Sintana Energy Inc. notes that a subsidiary of Galp Energia, the operator of petroleum exploration licence 83, in the heart of Namibia's Orange basin, has signed a contract with SFL Corp. for the semi-submersible rig Hercules.

The contract is for two wells plus optional well testing. The drilling program, including mobilization, is projected to commence in the fourth quarter of 2023. Without any options, the duration of the contract is approximately 115 days, including mobilization to Namibia.

Galp is the operator of PEL 83 and holds an 80-per-centg interest. Partners include the National Petroleum Company of Namibia (Namcor) with 10 per cent and Custos Investments Pty. Ltd. with 10 per cent. Sintana has a 49-per-cent indirect interest in Custos.

PEL 83 is located immediately north of Shell's PEL 39 where the basin opening discoveries at Graff-1, La Rona-1 and Jonker-1 were successfully drilled. Additionally, it is located north and east of Total Energies' world-class, multibillion-barrel Venus-1 oil discovery on PEL 56. Both Shell and Total continue to progress multirig exploration and appraisal activities on their respective licences.

"Our Orange basin licences, PEL's 83, 87 and 90, are ideally located at the heart of the play. The significant prospectivity of PEL 83, together with its relatively shallow water depth (250 to 2,550 metres), position it to be one of the most significant and profitable developments in Namibia," said Knowledge Katti, chairman and chief executive officer of Custos and a director of Sintana.

"The continuing progress made by the operators of each of our three Orange basin PELs demonstrates the high-quality potential of our portfolio. Sintana is uniquely positioned, on a carried basis, for near-term exploration activity, including potential drilling, on each of our highly prospective Orange basin licences," added Robert Bose, president of Sintana.

About Sintana Energy Inc.

Sintana is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, petroleum exploration licences in Namibia, as well as in Colombia's Magdalena basin. Sintana's exploration strategy is to acquire, explore and develop superior quality assets with substantial reserves potential.

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