- Sintana Energy (SEI) confirmed that a subsidiary of Galp Energia 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 Q4 2023
- Sintana Energy Inc. (SEI) stock opened trading at $0.025
Sintana Energy (SEI) confirmed that a subsidiary of Galp Energia has signed a contract with SFL Corp. for the semi-submersible rig “Hercules”.
Galp is the operator of Petroleum Exploration License 83 (PEL 83) in Namibia’s Orange Basin. Galp holds an 80 per cent interest and its partners include the National Petroleum Company of Namibia with 10 per cent and Custos Investments (Pty) Ltd. with 10 per cent. Sintana has a 49 per cent indirect interest in Custos.
The contract is for two wells plus optional well testing.
Source: Sintana Energy Inc.
One of the company’s directors, and Custos’ Chairman and Chief Executive Officer, Knowledge Katti, explained that the Orange Basin Licenses, PEL’s 83, 87 and 90, are located at the heart of the play.
“The significant prospectivity of PEL 83, together with its relatively shallow water depth (250 – 2,550 metre), position it to be one of the most significant and profitable developments in Namibia.”
Sintana’s President, Robert Bose, added, “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 Licenses.”
The drilling program, including mobilization, is projected to commence in Q4 2023.
Sintana Energy Inc. (SEI) is engaged in petroleum and natural gas exploration and development activities in Colombia’s Magdalena Basin and five onshore and offshore petroleum exploration licences in Namibia.
Sintana Energy Inc. (SEI) opened trading at $0.025.
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