Sale of Trinidad Business

Agreed terms bring forward the remaining payment deadline by a year in exchange for an early payment discount.

Rhea-AI Summary

Sintana Energy (SEUSF) has received the first $450,000 instalment of deferred consideration from the sale of its Trinidad business in 2025.

Revised terms agreed with the purchaser accelerate payment of the outstanding balance to end December 2026, rather than through end 2027, in exchange for an early payment discount. Sintana expects aggregate deferred cash payments of $900,000, including the instalment already received, before the end of 2026, compared with the previous $1m across 2026 and 2027. The company expects these payments to fully conclude its exit from all business, assets and operations in Trinidad.

Positive

• Minor point$450,000 first instalment received toward deferred consideration for the 2025 Trinidad business sale.
• Minor point. Forward-looking: it has not happened yet and may not happen.End December 2026 payment deadline accelerates outstanding consideration previously payable through end 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Trinidad exit expected to conclude fully with completion of the deferred payments.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Early payment discount reduces expected aggregate deferred payments to $900,000 from $1m across 2026 and 2027.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, ON AND LONDON, UK / ACCESS Newswire / October 27, 2026 / Sintana Energy Inc. (TSX-V:SEI)(AIM:SEI)(OTCQX:SEUSF) ("Sintana" or the "Company") announces that the first instalment of $450,000 in deferred consideration for the sale of its business in Trinidad in 2025 has been received.

It is noted that the Company had agreed with the purchaser a variation of terms for the deferred consideration payment instalments, such that full payment of all outstanding amounts, less an agreed early payment discount, are to be accelerated to end December 2026 (previously remaining deferred consideration payments extended through to end 2027). Consequently, prior to the end of 2026 and including the payment already received, the Company expects to have received aggregate cash payments totaling $900,000 in respect of the deferred balance owing for sale of its Trinidad business (previously $1m across 2026 and 2027) which will fully conclude the exit of the Company from all business, assets and operations in Trinidad.

For further information, please contact:

Sintana Energy Inc Robert Bose, Chief Executive Officer Eytan Uliel, President	Tel: +44 (0)7 747 845 987
Zeus - Nomad and Joint Broker Antonio Bossi / Darshan Patel / George Duxberry Simon Johnson (Broking)	Tel: +44 (0) 20 3829 5000
Stifel - Joint Broker Callum Stewart / Simon Mensley Ashton Clanfield (Broking)	Tel: +44 (0) 20 7710 7600
Jonathan Paterson - Investor Relations jonathan.paterson@harbor-access.com	Tel: +1 475 477 9401
CAMARCO - Financial PR Billy Clegg / Georgia Edmonds / Sam Morris	Tel: +44 (0) 20 3757 4980

About Sintana

Sintana, the Canadian parent company of a group of companies, is focused on the acquisition, exploration, potential development, and ultimately the monetisation of a diverse portfolio of interests in high-impact assets with significant hydrocarbon resource potential in emerging "frontier" geographies. Specifically, this includes interests in eight licences in two countries, Namibia and Uruguay, as well as pending indirect interests in additional licences in Namibia and Angola (and legacy assets in Colombia and The Bahamas), providing exposure to a range of geologic plays, basins, operators, regulators, jurisdictions and geopolitical regimes.

https://www.sintanaenergy.com

Forward-looking statements

Certain statements in this announcement are, or may be deemed to be, forward looking statements, including statements with respect to the anticipated completion of the Acquisition on terms currently proposed or at all, the receipt of all associated regulatory approvals and satisfaction of all closing conditions, and the prospective nature of PEL 37. Forward looking statements are identified by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Company's current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Company's current beliefs and assumptions and are based on information currently available to the Company. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, failure to obtain regulatory approvals or satisfy conditions precedent to the completion of the Acquisition, changes in project parameters as plans continue to be refined, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Company believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. The Company disclaims any obligation to update forward-looking statements contained herein other than as required by applicable law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: Sintana Energy Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much has Sintana Energy received from the deferred Trinidad sale payments?

Sintana Energy has received the first $450,000 instalment of deferred consideration for its Trinidad business, sold in 2025.

When does Sintana Energy expect to complete the Trinidad sale payments?

Sintana expects aggregate deferred cash payments of $900,000 before the end of 2026, including the instalment already received. The agreed terms accelerate outstanding payments previously extending through end 2027, with an early payment discount.