Sintana Energy Inc — PEL 82 Farm-Out

(LSE:SEI) Sintana Energy Inc. retains its unchanged indirect exposure to PEL 82 through its 49% interest in Custos, which itself holds a 10% participating interest in PEL 82. Chevron has agreed to sell a 25% interest in PEL 82 to QatarEnergy. Following this transaction, Chevron's stake in PEL 82 will decrease from 80% to 55%. NAMCOR's interest in PEL 82 remains at 10%. The Walvis Basin licence associated with PEL 82 covers an area of 11,450 km². Approximately 70% of the licence area has seismic coverage. Water depths in the licence area range from 350 to 2,300 meters. PEL 82 is currently in its exploration period. There are no reserves or resources attributed to PEL 82 at this time. Completion of the transaction is subject to regulatory approvals. The consideration for the transaction was not disclosed. Chevron will remain the operator of PEL 82 after the transaction. The company states that QatarEnergy’s entry into the licence materially endorses the prospectivity of PEL 82.