Mr. Robert Bose reports

PEL 82 - QATARENERGY TO ACQUIRE 25% PARTICIPATING INTEREST FROM CHEVRON

QatarEnergy has agreed to acquire a 25-per-cent participating interest in petroleum exploration licence 82 (PEL 82), offshore Namibia, from an affiliate of Chevron Corp. Custos Energy Pty. Ltd. holds a 10-per-cent participating interest in PEL 82 and Sintana Energy Inc. maintains a 49-per-cent indirect interest in Custos.

Following completion of the transaction, Chevron will retain operatorship of PEL 82 with a 55-per-cent interest (reduced from 80 per cent), QatarEnergy will hold 25 per cent, and the National Petroleum Corp. of Namibia (Namcor) and Custos will each continue to hold 10 per cent. Custos's interest in PEL 82, and therefore Sintana's indirect interest, is unchanged by the transaction.

QatarEnergy, which is also a participant in PEL 90 alongside Chevron, joins the PEL 82 joint venture as the partners progress exploration activities on the licence.

Completion of the transaction remains subject to customary regulatory approvals. The consideration payable to Chevron has not been disclosed.

Robert Bose, chief executive officer of Sintana Energy, said: "We welcome QatarEnergy's entry into PEL 82. Its decision to take a 25-per-cent interest alongside Chevron is a further endorsement of the Walvis basin, the potential of PEL 82 and another confirmation of the quality and scale of our Namibian portfolio.

"Through Custos, Sintana retains exposure to the significant prospectivity of PEL 82 with its interest unchanged. We look forward to unveiling the potential of PEL 82 together the JV partners as exploration activities progress."

PEL 82 is located offshore Namibia in the Walvis basin, covering blocks 2112B and 2212A, in water depths of 350 to 2,300 metres, and has an area of approximately 11,450 square kilometres. Existing seismic data cover approximately 70 per cent of the licence area, and previous drilling on the licence includes the Wingat-1 and Murombe-1 wells. The licence is operated by Chevron. Following completion of the transaction, the PEL 82 participants will be Chevron (55 per cent), QatarEnergy (25 per cent), Namcor (10 per cent) and Custos (10 per cent). The licence is currently in an exploration period. No reserves or resources have been attributed to PEL 82.

About Sintana Energy Inc.

Sintana, the Canadian parent company of a group of companies, is focused on the acquisition, exploration, potential development and ultimately the monetization of a diverse portfolio of interests in high-impact assets with significant hydrocarbon resource potential in emerging frontier geographies. Specifically, this includes interests in eight licences in two countries, Namibia and Uruguay, as well as pending indirect interests in additional licences in Namibia and Angola (and legacy assets in Colombia and the Bahamas), providing exposure to a range of geologic plays, basins, operators, regulators, jurisdictions and geopolitical regimes.

We seek Safe Harbor.