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Sintana Announces Amendment To Proposed Acquisition Of Petroleum Exploration License Interests In Namibia

Jan 21, 2022•over 3 years ago

Acquiring Company

Sintana

Acquired Company

Petroleum Exploration License Interests

Description

Sintana Energy Inc. (TSXV: SEI) (the “Company” or “Sintana”) announces today that it has entered into an amendment agreement dated January 20, 2022 (the “Amendment Agreement”) with respect to its previously announced proposed acquisition (the “Acquisition”) of a 49% interest in all of the issued and outstanding shares of Inter Oil (Pty) Ltd. (“Inter Oil”) from Grisham Assets Corp. (“Grisham”). As previously announced, Inter Oil indirectly holds a strategic portfolio of onshore and offshore petroleum exploration license interests in Namibia.

Company Information

Company

Sintana

About

The Company is currently engaged in hydrocarbons exploration and development activities in Colombia’s Magdalena Basin. Sintana’s business strategy is to acquire, explore, develop and produce superior quality assets with significant reserves potential. On behalf of Sintana Energy Inc., “Douglas G. Manner” Chief Executive Officer For additional information regarding Sintana and ongoing corporate activities, please visit the Company’s website at www.sintanaenergy.com. Corporate Contact:Douglas G. MannerChief Executive OfficerTel: 832.279.4913Corporate Contact:Sean J. Austin Vice President Tel: 713.825.9591 Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks related to the satisfaction of all outstanding closing conditions for the completion of the Acquisition, Interim Financing and/or Public Offering, currency risk, political and security risks relating to operations in Namibia, availability of capital, permitting and land title issues, the risks inherent in oil and gas exploration and development activities, and such other risk factors as are set forth in the Company’s continuous disclosure documents available on SEDAR from time to time. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company disclaims any obligation to update the forward looking statements contained herein other than as required under applicable securities laws.

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