Star Metro - Sale of Trinidad Business

It is noted that the Company had agreed with the purchaser a variation of terms for the deferred consideration payment instalments, such that full payment of all outstanding amounts, less an agreed early payment discount, are to be accelerated to end December 2026 (previously remaining deferred consideration payments extended through to end 2027). Consequently, prior to the end of 2026 and including the payment already received, the Company expects to have received aggregate cash payments totaling $900,000 in respect of the deferred balance owing for sale of its Trinidad business (previously $1m across 2026 and 2027) which will fully conclude the exit of the Company from all business, assets and operations in Trinidad.

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About Sintana

Sintana, the Canadian parent company of a group of companies, is focused on the acquisition, exploration, potential development, and ultimately the monetisation of a diverse portfolio of interests in high-impact assets with significant hydrocarbon resource potential in emerging "frontier" geographies. Specifically, this includes interests in eight licences in two countries, Namibia and Uruguay, as well as pending indirect interests in additional licences in Namibia and Angola (and legacy assets in Colombia and The Bahamas), providing exposure to a range of geologic plays, basins, operators, regulators, jurisdictions and geopolitical regimes.

https://www.sintanaenergy.com

Forward-looking statements

Certain statements in this announcement are, or may be deemed to be, forward looking statements, including statements with respect to the anticipated completion of the Acquisition on terms currently proposed or at all, the receipt of all associated regulatory approvals and satisfaction of all closing conditions, and the prospective nature of PEL 37. Forward looking statements are identified by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Company's current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Company's current beliefs and assumptions and are based on information currently available to the Company. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, failure to obtain regulatory approvals or satisfy conditions precedent to the completion of the Acquisition, changes in project parameters as plans continue to be refined, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Company believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. The Company disclaims any obligation to update forward-looking statements contained herein other than as required by applicable law.

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

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