Sintana Energy Inc. provided the following update regarding Petroleum Exploration Licenses 83 (PEL 83) and 90 (PEL 90) located in the heart of Namibia's Orange Basin which is emerging as one of the world's most prospective oil and gas regions. PEL 83: Sintana refers to a press release published by Custos Energy (Pty) Ltd. (together with Custos Investments (Pty) Ltd., "Custos") confirming that the Mopane 2X exploration well located on blocks governed by PEL 83 has been spud. Sintana maintains a 49% indirect interest in Custos.

The Mopane exploration well is the first of two wells which are scheduled to be drilled by the semi-submersible rig Hercules under a contract that provides for the two wells and optional testing. Each of Custos and NAMCOR, Namibia's national petroleum company, own 10% working interests in PEL 83 and are carried by Galp through the exploration phase. PEL 83 is located immediately north of PEL 39, home to Shell's basin opening, Upper Cretaceous 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 throughout 2024.

PEL 90: Company also confirm the public filing of an application by an affiliate of Chevron Corporation with the Ministry of Environment, Forestry and Tourism for the Republic of Namibia for an Environmental Clearance Certificate which would provide for the drilling of up to 5 exploration and 5 appraisal wells beginning in the fourth quarter of 2024 on block 2813B which is governed by PEL 90. Sintana, through its investment in InterOil, maintains a 49% indirect interest in Trago Energy (Pty) Ltd, a 10% working interest owner in PEL 90.