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Sintana Energy ( (TSE:SEI) ) has issued an update.
Sintana Energy Inc. has announced that Woodside Energy has opted not to farm-in to the PEL 87 project in Namibia’s Orange Basin, prompting the search for a new partner to fund exploration drilling. Despite this, significant prospectivity has been identified from a 3D seismic dataset funded by Woodside, with Pancontinental and its partners continuing to refine a growing inventory of leads and prospects. This development positions the PEL 87 partners to expedite farm-in discussions, highlighting the project’s potential within Sintana’s Orange Basin portfolio.
More about Sintana Energy
Sintana Energy Inc. is engaged in petroleum and natural gas exploration and development activities, focusing on six large, highly prospective onshore and offshore petroleum exploration licenses in Namibia and Colombia’s Magdalena Basin.
YTD Price Performance: -40.91%
Average Trading Volume: 591,278
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$242.7M
For an in-depth examination of SEI stock, go to TipRanks’ Stock Analysis page.