Sintana Energy CEO Robert Bose joined Steve Darling from Proactive to discuss a new agreement involving Petroleum Exploration Licence 90 (PEL 90) in Namibia, following an announcement by Trago Energy regarding an agreement with Harmattan Energy Limited, an affiliate of Chevron. Under the agreement, Trago Energy will transfer its entire 10% participating interest in PEL 90 to Harmattan Energy. Sintana Energy maintains an indirect 49% interest in Trago, providing Sintana with continued exposure to the licence and its future exploration and development potential. As part of the transaction, Trago will receive US$11 million in cash upon completion. The agreement also provides for additional contingent consideration tied to the achievement of certain appraisal and production milestones. Importantly, the contingent consideration includes revenues associated with potential commercial production, which is currently estimated to involve between 1.5 million and 2.5 million barrels of oil. Bose said the transaction demonstrates Sintana’s strategy of reducing the capital requirements and downside exposure associated with its exploration portfolio while retaining exposure to potential upside if high-impact exploration projects progress successfully through appraisal and into production. By transferring the participating interest to a major industry participant while securing upfront cash and potential future milestone payments, Sintana believes the arrangement can provide value from PEL 90 without requiring the company to carry the same level of capital commitments associated with maintaining a direct participating interest. Attention now turns to the highly anticipated Nabba 1-X exploration well on PEL 90. The well represents another opportunity to test the prospectivity of the Orange Basin, one of the most closely watched exploration regions along the Atlantic margin. Bose highlighted the significance of maintaining capital-free exposure to PEL 90 and its exploration potential, particularly given the licence’s location within the broader Orange Basin and its proximity to major discoveries including Mopane and Venus. The transaction adds another element to Sintana’s strategy of maintaining exposure to high-impact exploration while seeking to manage capital requirements across its portfolio. The company continues to hold interests across its Atlantic margin assets, with PEL 90 providing exposure to a region that has attracted significant industry attention following major exploration successes. #proactiveinvestors #sintanaenergyinc #tsxv #sei #otcqb #seusf #Namibia #PEL90 #Chevron #OrangeBasin #Nabba #OilExploration #OilAndGas #Energy #Petroleum #Exploration #OffshoreEnergy #OilDiscovery #EnergyInvesting #NaturalResources #AtlanticMargin #OilStocks #ResourceStocks