Execution of Definitive Agreement to Acquire up to 67% of Giraffe Energy – Expansion of Orange Basin Platform in Namibia & Creation of Community Trust - Seite 2

“We are pleased to announce the potential expansion of our Orange Basin platform through the Acquisition of a significant stake in Giraffe Energy. Together with our partners at QXI and Giraffe, we look forward to working with NAMCOR to fully realize the significant geologic, commercial, and strategic value of PEL 79,” said Robert Bose, CEO and Board Member of Sintana Energy.

“We are pleased to welcome Sintana, together with QXI, to Giraffe Energy,” said Jeremy Hangula, Director of Giraffe. “Our combined resources position us to capture the unique value of PEL 79,” he added.

“As the Orange Basin continues to deliver outstanding exploration success, we are delighted to work with Sintana and Crown to enhance the technical and operational capabilities at Giraffe. We look forward to supporting NAMCOR with their continuing efforts to unlock the full exploration potential of this highly prospective license,” said Mark Stearnes, CEO of QXI.

In conjunction with the Acquisition, an 8% interest in Giraffe’s common equity will be contributed to a community trust. This contribution, initiated and supported by the Knowledge Katti Foundation, will establish the first vehicle of its kind in Namibia providing a direct mechanism to bring the benefits of the oil and gas industry to local communities.

“We are grateful for the efforts of the Giraffe owners and to the Knowledge Katti Foundation for this groundbreaking initiative. It underscores the importance of ensuring the benefits and opportunities of this emerging industry are shared broadly shared with the local communities,” said the Honourable Neville Andre, Governor of Erongo.

“The Knowledge Katti Foundation is proud to play an instrumental role in this initiative ensuring that local communities, initially in Erongo and then expanding to include Karras, are participants in the benefits and outcomes of the oil and gas industry as Namibia emerges as one of the world’s great hydrocarbon provinces,” said Knowledge Katti, Founder of the Knowledge Katti Foundation.

Transaction Overview

The Acquisition is structured as an initial purchase of 49% of the issued and outstanding shares of Giraffe from Crown Energy which, prior to the Acquisition was the owner of 100% of the issued and outstanding shares of Giraffe, for cash consideration of US$2 million. The Company proposes to fund the cash consideration from resources on hand.