Sintana Power Completes Acquisition of Curiosity in Giraffe Power

TORONTO, June 10, 2024 (GLOBE NEWSWIRE) — Sintana Power Inc. (TSX-V: SEI, OTCQB: SEUSF) (“Sintana” or the “Firm”) is happy to announce that it has closed its beforehand introduced (April 24 Launch) acquisition of an preliminary 49% curiosity in Giraffe Power Investments (Pty) Ltd. (“Giraffe”), pursuant to a definitive settlement dated efficient April 24, 2024 with Crown Power (Pty) Ltd. and Giraffe. Giraffe is the proprietor of a 33% curiosity in Petroleum Exploration License 79 (“PEL 79”) which governs blocks 2815 and 2915 situated inboard of blocks operated by BW Power, Rhino Assets and Shell. The Nationwide Petroleum Company of Namibia is at the moment the operator with a 67% curiosity in PEL 79. 

The Firm acquired its preliminary 49% curiosity in Giraffe for money consideration of US$2 million. Sintana retains an possibility to extend its possession as much as 67% of Giraffe anytime over the 5 years following closing based mostly on the shares issued and excellent on the time of the choice train for an extra money fee on the time of train of US$1 million. For additional particulars relating to the transaction and PEL 79, please seek advice from the press launch of the Firm dated April 24, 2024 obtainable on SEDAR+ at www.sedarplus.ca.

ABOUT SINTANA ENERGY:

The Firm is engaged in petroleum and pure fuel exploration and improvement actions on 5 giant, extremely potential, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia’s Magdalena Basin.  

On behalf of Sintana Power Inc.,

“A. Robert Bose”
Chief Government Officer

For extra info or to sign-up to obtain periodic updates about Sintana’s tasks, and company actions, please go to the Firm’s web site at www.sintanaenergy.com.

Ahead-Wanting Statements

Sure info on this launch are forward-looking statements. Ahead-looking statements include statements that aren’t purely historic, together with statements relating to beliefs, plans, expectations or intensions for the long run, and embody, however not restricted to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and improvement actions on PEL 83 and/or PEL 90 and neighbouring properties, in addition to the potential nature of the Firm’s property pursuits.  Such statements are topic to dangers and uncertainties that will trigger precise outcomes, efficiency or developments to vary materially from these contained within the statements, together with, however not restricted to dangers referring to the receipt of all relevant regulatory approvals, outcomes of exploration and improvement actions, the power to supply three way partnership companions and fund exploration, allowing and authorities approvals, and different dangers recognized within the Firm’s public disclosure paperwork on occasion.  Readers are cautioned that the assumptions used within the preparation of such info, though thought of affordable on the time of preparation, might show to be imprecise and, as such, undue reliance shouldn’t be positioned on forward-looking statements.  The Firm assumes no obligation to replace such info, besides as could also be required by legislation.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.