Star Metro - Latin-America Updates

AREA OFF-1, offshore Uruguay: ANCAP, the Uruguayan state-owned energy company and regulator, has agreed to a suspension of the initial exploration subperiod of the AREA OFF-1 block, offshore Uruguay, for 1 year, such that the first exploration subperiod will now expire on 23 August 2027. The suspension was requested by Chevron Mexico Finance LLC, Sucursal Uruguay, operator of the block, in accordance with the provisions of the licence contract for AREA OFF-1, given the length of time taken for environmental authorisation of the AREA OFF-1 3D seismic acquisition campaign. As previously advised, following environmental authorisation being obtained in early 2026 an initial season of seismic acquisition was completed prior to the end of April 2026, with a second season scheduled to commence in Q4 2026. Acquisition, processing and interpretation of all of the planned 3D seismic data over the block is considered essential data necessary to making an optimal exploration well drilling decision.

Offshore Argentina: On 14 February 2025, Challenger Energy Group plc, a member of the Sintana group of companies, submitted an expression of interest for the award of an offshore hydrocarbon exploration permit under national jurisdiction in the North Argentine Basin (CAN - 200), in accordance with the provisions of Article 46 of Law No. 17,319 of the Argentine Republic. On 15 July 2026, Decree 590/2026 was published in the Official Gazette of the Argentine Republic, which instructs the National Secretariat of Energy to call for an International Public Tender based on Challenger Energy's expression of interest, as a necessary precursor to the potential award of a permit. Challenger will proceed to participate in this process, in compliance with the provisions and timelines established by the Argentine law and authorities, and further updates will be provided as appropriate.

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About Sintana Energy

Sintana Energy is an Atlantic Margin-focused oil and gas company, holding interests in a diverse portfolio of high-impact assets that spans the Southern Atlantic conjugate margin. The Company's current portfolio is strategically positioned in the emerging frontier geographies of Namibia, Uruguay and Angola, with additional legacy assets in Colombia and The Bahamas. Led by an experienced team, Sintana Energy is partnered with major industry players, and benefits from significant carry support, on key licenses across multiple jurisdictions. Sintana Energy is listed on the TSX-V in Canada under the symbol "SEI", in the United Kingdom on the LSE-AIM under the symbol "SEI" and in the U.S. on the OTCQX under the symbol "SEUSF".

For further information, please visit sintanaenergy.com

Forward-Looking Statements

The information provided in this announcement contains certain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to assumptions, risks and uncertainties, many of which are beyond the control of Sintana. Forward-looking statements are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expect", "plan", "anticipate", "believe", "intend", "maintain", "continue to", "pursue", "design", "result in", "sustain" "estimate", "potential", "growth", "near-term", "long-term", "forecast", "contingent" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. The forward-looking statements contained in this announcement speak only as of the date hereof and are expressly qualified by this cautionary statement.

Forward-looking statements are based upon, among other things, factors, expectations and assumptions that Sintana has made as at the date of this announcement regarding, among other things, the receipt of all applicable regulatory approvals and the anticipated schedule for receipt of funds pursuant to the Settlement Agreement.

Undue reliance should not be placed on the forward-looking statements because no assurance can be given that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These risks include, but are not limited to, the ability of Sintana to receive all necessary regulatory approvals and third party satisfaction of all conditions of the Settlement Agreement.

Except as may be required by applicable securities laws, Sintana does not assume any obligation or intent to update publicly or revise any forward-looking statements made herein, whether as a result of new information, future events or otherwise.

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.

SOURCE: Sintana Energy Inc.

View the original press release on ACCESS Newswire

L.Côte--SMC