Sintana Energy Announces Financing

TORONTO, ONTARIO--(Marketwired - Nov. 24, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Sintana Energy Inc. (TSX VENTURE:SNN) ("Sintana" or the "Company") is pleased to announce that it has entered into an engagement letter with Canaccord Genuity Corp. on behalf of a syndicate of agents to be formed (the "Agents"), pursuant to which the Agents shall act as agents of the Company on a best efforts basis in connection with the offering of units of the Company ("Units") by way of a short form prospectus (the "Offering"). Each Unit shall consist of one common share of Sintana and one-half of one share purchase warrant, with each whole such share purchase warrant entitling the holder to acquire one additional common share of the Company for a period of 12 months from the closing of the Offering. The price of the Units (the "Offering Price") will be determined in the context of the market.

The Offering is expected to close on or about December 10, 2014 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The net proceeds of the Offering will be used to fund the exploration and development of the Company's projects and for general corporate purposes. The Company shall pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering, and shall issue broker warrants entitling the Agents to acquire, in the aggregate, such number of common shares of the Company as is equal to 6% of the aggregate number of Units sold pursuant to the Offering, at the Offering Price for a period of 12 months.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

ABOUT SINTANA ENERGY:

The Company is engaged in petroleum and natural gas exploration and development activities in the Magdalena Basin, Colombia. The Company's exploration strategy is to acquire, explore, develop and produce superior quality assets with significant reserve potential.

The Company's private participation interests in Colombia include 100% of the conventional and 30% of the unconventional resource in the 43,158 acre VMM-37 Block and a 15% carried private participation interest in the conventional and unconventional formations of the 154,909 acre VMM-4 Block, both of which are located in the Middle Magdalena Basin. Sintana also has a 30% private participation interest in the 34,194 acre Talora Block and 30% private participation interests in 272,021 acres in the COR-39 & COR-11 Blocks, all three of which are located in the Upper Magdalena Basin. These interests are subject to all applicable regulatory and government approvals, including those of Colombia's National Hydrocarbon Agency (the ANH).