TotalEnergies to Operate PEL 83 in Namibia, Boosting Sintana Energy’s Prospects

Sintana Energy ( (TSE:SEI) ) has issued an announcement.

Sintana Energy Inc. announced that TotalEnergies will become the operator of Petroleum Exploration License 83 (PEL 83) in Namibia’s Orange Basin, acquiring a 40% interest from Galp Energia. This agreement includes a commitment to an exploration and appraisal campaign involving at least three wells over the next two years, aiming to de-risk the block and define an initial development hub. The transaction, expected to complete in 2026, highlights the potential of the Mopane discoveries and is anticipated to enhance the value of Sintana’s interests.

Spark’s Take on TSE:SEI Stock

According to Spark, TipRanks’ AI Analyst, TSE:SEI is a Underperform.

Sintana Energy’s overall score reflects significant challenges in financial performance and valuation due to a lack of revenue and negative profitability. However, the company benefits from a debt-free balance sheet and recent positive exploration results, which slightly offset the otherwise negative outlook. Technical indicators suggest a bearish trend, further weighing on the score.

To see Spark’s full report on TSE:SEI stock, click here.

More about Sintana Energy

Sintana Energy Inc. is engaged in petroleum and natural gas exploration and development activities, focusing on five large, highly prospective onshore and offshore petroleum exploration licenses in Namibia and Colombia’s Magdalena Basin. The company is also in advanced stages to acquire Challenger Energy Group Plc, which will add interests in offshore petroleum licenses in Uruguay to its portfolio. Sintana’s strategy is to acquire, explore, develop, and produce superior quality assets with substantial value-added potential.

Average Trading Volume: 270,773

Technical Sentiment Signal: Sell

Current Market Cap: C$204.6M

For an in-depth examination of SEI stock, go to TipRanks’ Overview page.