Sintana Energy to raise at least US$11.5m for frontier drilling push

Sintana Energy ( (TSE:SEI) ) just unveiled an update.

Sintana Energy plans a private placement of up to 49.6 million new common shares at C$0.41 each to raise at least US$11.5 million, via an AIM placing and a listed issuer financing exemption offering in Canada. The shares will rank pari passu with existing stock, are expected to be admitted to trading in late May 2026 subject to regulatory approvals, and will not be subject to a Canadian hold period under the exemptive regime.

Proceeds, alongside existing cash and expected 2026 inflows from an Exxon settlement, will fund Sintana’s share of the Chevron-operated Nabba-1 exploration well on PEL 90, cash components of acquisitions in Namibia’s Walvis Basin and Angola’s Kwanza Basin, and general corporate purposes. The raise underpins a multi-well catalyst programme through 2026–27, including carried drilling at the Mopane complex and other basin-opening wells, positioning the company for potential valuation upside if exploration success materialises across its diversified portfolio.

More about Sintana Energy

Sintana Energy Inc. is an oil and gas exploration company focused on high-impact, frontier basins in Namibia, Uruguay and Angola. Its business model centres on securing minority interests in major-operated assets, where partners such as TotalEnergies, Chevron and Galp carry most drilling and development costs, giving investors leveraged exposure to large-scale hydrocarbon prospects with limited capital outlay.

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