Year End Review & 2024 Outlook, Management Changes and 2023 Incentive Awards - Seite 2

• Completion of the initial two well drilling campaign by Galp on PEL 83 in Q1.
• Delivery of the final results of the 3D seismic analysis by Woodside and the triggering of its option to become operator of PEL 87.
• Initiation of a drilling campaign on PEL 90 by Chevron in Q4.
• Additional exploration and appraisal activity by both Shell and TotalEnergies in the Orange Basin on their respective blocks which immediately offset blocks in which Sintana has indirect interests.

“The numerous catalysts expected in the coming quarters will provide a number of opportunities to further assess and substantiate the multi-billion barrel potential of the Orange Basin in Namibia,” said Robert Bose. “Specifically for Sintana, we look forward to the progress of drilling and other exploration activities on our blocks unveiling the quality and opportunity associated with our unmatched position in the heart of the basin,” he added.

Management Update

Effective January 1, 2024, Robert Bose will assume the role of Chief Executive Officer and relinquish his role as President. Doug Manner, currently CEO, will assume the role of President. Both Mr. Bose and Mr. Manner will continue to serve on the Company’s Board of Directors.

Incentive Awards

The Company reports that its Board of Directors has approved grants of a total of 5.3 million incentive common stock options to several directors and officers of the Company and four other parties. The options have an exercise price of $0.27, vest in three equal tranches over the next 24 months and will expire on December 19, 2033.

ABOUT SINTANA ENERGY:

The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and also in Colombia’s Magdalena Basin.

On behalf of Sintana Energy Inc.,
“Douglas G, Manner”
Chief Executive Officer

For additional information or to sign-up to receive periodic updates about Sintana’s projects, and corporate activities, please visit the Company’s website at www.sintanaenergy.com

Corporate Contacts:		Investor Relations Advisors:
Douglas G. Manner	Sean J. Austin	Jonathan Paterson
Chief Executive Officer	Vice-President	Founder & Managing Partner
832-279-4913	713-825-9591	Harbor Access
		475-477-9401

Forward-Looking Statements