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Toronto, September 15, 2021 (Globe Newsweire) – Sintana Energy Inc. (TSXV: SEI) (the “Company“Or”Sintana”) From September 13, 2021, to the Grisham Property Corporation.Grisham”), A private company owned by Knowledge Kathy, for the purchase.Recovery(Inter Oil) Ltd.Inter Oil”). Inter Oil is a privately owned Namibian company that has a strategic portfolio of indirect offshore petroleum exploration licenses.PELs”) (I) 15% interest in PEL 87, including (ii) 10% interest on each PELs 82 and 83. And (iii) bear 20% interest in PEL 90. In addition, the completion of the acquisition will be obtained from the company by indirectly acquiring the Inter8 sub-company in 908B on the coast in 1918B. Indirectly 30% interest.
Three of the four coastal PELs are directly off the coast of Namibia (i). (ii) Venus-1, the most anticipated exploration south of PEL 90, planned for excavation in France in the fourth quarter of 2021, and (iii) Graph-1, the most anticipated exploration of PEL 83 in the south. In addition, Block 1918B is close to the future block currently estimated by Reconnaissance Energy Africa Limited.
US $ 4,000,000 for purchase estimateCash payment”) And a total of 34,933,333 shares of the company. The company has the option to pay in cash in one or two installments, the first of which is $ 3,000,000 and the first of which is US $ 1,000,000. 90 days closure. Total revenue 5,040,000 (total CDNPrivate placement”). Charleston Energy Partners, L.C.L.Charleston”) Promises to register for joint stock on the basis of personal allocation upon completion of the purchase and other closing conditions at the same time.
“This transaction will not only duplicate the Cinnamon portfolio, but also give us a very future and active geographical vulnerability to both offshore and offshore oil and natural gas exploration opportunities. We believe this transaction will provide a great opportunity for the company to generate significant additional shareholder value – in Colombia and Namibia, ”said Dog Manner, CEO of the company.
“This is a great opportunity for public investors to be exposed to the exciting beaches and coastal development in Namibia and I look forward to further expanding my partnership with Cincinnati,” Kati said.
Purchase and private placement will receive all applicable approvals, including satisfaction with various closing conditions and TSXV approval. Private assignments are also expected to be approved by Sintana’s shareholders, as Charleston will be the company’s “control person” in the translation of the TSXV company manual. Further details of the shareholders’ meeting to approve the procurement and other corporate issues will be made public within the company period.
The company is currently engaged in hydrocarbon exploration and development in the Magdalena Basin of Colombia. Sintana’s business strategy is to acquire, explore, develop and produce high-quality assets with high resilience.
By Sintana Energy Inc.
Douglas G. Manner
For more information about Sintanaenergy and its future operations, please visit the company’s website at www.sintanaenergy.com.
TSX Venture Exchange or its regulatory service provider has not evaluated or accepted responsibility for the accuracy or completeness of this press release.
Future Statements: The information contained in this newsletter may contain forward-looking statements that include the most well-known and unknown risks and uncertainties, including hazards related to the satisfaction of the best closing conditions for access to specific information and / or personal placement. , The future nature of PELs and other interests based on acquisition and / or any neighboring property, the future nature of any neighboring property will not produce the same results in relation to any PELs or other interests. Other risk factors related to operations in Namibia, currency risk, political and security risks, capital availability, licensing and land ownership issues, risks in oil and gas exploration and development activities, etc. are listed in the company’s next notice on SEDAR. F. From time to time .. These forward-looking statements are subject to many risks and uncertainties, some of which are beyond the control of the Company. Although it is considered reasonable at the time of preparation, readers have been warned to ensure that the assumptions used to prepare such information are inaccurate and that there is no unreasonable reliance on future statements. It does not accept any obligation to update the foregoing information contained herein except as required by applicable safety regulations.