Sintana Energy Inc. by its Namibian affiliate Custos Energy (Pty) Ltd. (together with Custos Investments (Pty) Ltd., "Custos") regarding the upcoming exploration campaign on blocks 2813A and 2814B governed by Petroleum Exploration License 83 ("PEL 83"). PEL 83 is located in the heart of Namibia's Orange Basin, one of the world's most prospective oil and gas regions. Each of Custos and NAMCOR own 10% working interests in PEL 83, and are carried by Galp through first sales.

Sintana maintains an indirect 49% interest in Custos. In May, Galp entered into a contract with SFL Corporation for the semi-submersible rig Hercules. The 115-day contract, prior to any extension option exercise, is for two wells plus optional well testing.

The rig is currently in transit along the coast of West Africa and is expected to reach Walvis Bay on or about November 4 . It will subsequently move on to the first location with an expected spud date in the middle of November. PEL 83 is located immediately north of Shell-operated PEL 39 home to the basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Shell continues to progress exploration and appraisal activities on its blocks with an ongoing multi-well campaign through the balance of 2023 and in 2024.

PEL 83 is also located northeast of PEL 56 where TotalEnergies announced its giant oil discovery at Venus-1. TotalEnergies recently confirmed its plan to move Venus into development and is continuing exploration efforts including recently spudding the Mangetti-1X prospect located north of Venus towards PEL 90, which is operated by Chevron and in which Sintana maintains an indirect interest.