Sintana Energy Inc. Announces Commencement of 3D Seismic Acquisition Area Off-1, Uruguay

Rhea-AI Summary

Sintana Energy (OTCQX:SEUSF) has commenced a planned 3D seismic acquisition on AREA OFF-1, offshore Uruguay covering ~4,300 km2. Fieldwork runs over two seasons: Feb–Apr 2026 and Nov 2026–Apr 2027, with most key-prospect acquisition expected in the first season.

Fast-track results from season one are expected in Q4 2026, with full PSDM results in Q2 2027. Sintana holds a 40% non-operated interest after a 2025 farm-out of 60% to a Chevron affiliate and is carried for the seismic program costs.

Positive

• Area OFF-1 survey covers approximately 4,300 km2
• 40% non-operated interest
• Most key-prospect acquisition expected in first season (Feb–Apr 2026)
• Company is carried for total anticipated seismic costs, reducing near-term capital outlay
• Fast-track seismic results expected in Q4 2026 with full PSDM by Q2 2027

Negative

• Non-operated 40% position limits operator control over AREA OFF-1 execution
• Acquisition spans two seasons through Apr 2027, extending timeline for full interpretation
• Seismic program outcomes are uncertain until Q4 2026–Q2 2027 result deliveries

TORONTO, ON / ACCESS Newswire / March 3, 2026 / Sintana Energy Inc. (TSX-V:SEI)(AIM:SEI)(OTCQX:SEUSF) ("Sintana" or the "Company") is pleased to announce that the planned 3D seismic acquisition campaign on AREA OFF-1, offshore Uruguay, has commenced.

The AREA OFF-1 survey is being carried out by the contractor Viridien, using the BGP Prospector vessel, and will cover a total of approximately 4,300 km². Acquisition fieldwork will take place over two seasons: February-April 2026 and November 2026-April 2027, with most acquisition relevant to the key prospects on AREA OFF-1 expected to be completed in the first season. Fast-track results from seismic acquired in the first season are expected in Q4 2026, with full PSDM results from the first season expected in Q2 2027.

Sintana Energy holds a 40% non-operated interest in the AREA OFF-1 block, following the farm-out in 2025 of a 60% operating interest to an affiliate of Chevron Corporation ("Chevron"), and is carried for the total anticipated cost of the 3D seismic acquisition program.

It is noted that commencement of seismic acquisition follows rejection by courts in Uruguay of several attempted interventions by activist groups, demonstrating the depth of the upfront preparatory work for the campaign, and the robustness of Uruguay's environmental consultation and permitting process. Sintana Energy remains committed to all operations with which it is associated being in compliance with the highest health, safety, and environmental standards.

Robert Bose, Chief Executive Officer of Sintana Energy, commented: "We are excited to see activity on AREA OFF-1 beginning so soon after completion of our acquisition of Challenger Energy in December 2025. 3D seismic acquisition is a key next step in defining the potential of Uruguay's offshore embedded within our Transatlantic portfolio, and which is underpinned by a relationship with Chevron that spans the conjugate margins. We look forward to providing further updates on progress over the coming quarters."

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
Cavendish Capital Markets Limited - Joint Broker Neil McDonald / Derrick Lee / Pearl Kellie	Tel: +44 (0) 20 3493 8000
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 Energy

Sintana Energy is an Atlantic Margin-focused oil and gas company, holding interests in a diverse portfolio of high-impact assets that spans the Southern Atlantic conjugate margin. The Company's current portfolio is strategically positioned in the emerging frontier geographies of Namibia, Uruguay and Angola, with additional legacy assets in Colombia and The Bahamas. Led by an experienced team, Sintana Energy is partnered with major industry players, and benefits from significant carry support, on key licenses across multiple jurisdictions. Sintana Energy is listed on the TSX-V in Canada under the symbol "SEI", in the United Kingdom on the LSE-AIM under the symbol "SEI" and in the U.S. on the OTCQX under the symbol "SEUSF".

For further information, please visit sintanaenergy.com

Forward-Looking Statements

The information provided in this announcement contains certain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to assumptions, risks and uncertainties, many of which are beyond the control of Sintana. Forward-looking statements are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expect", "plan", "anticipate", "believe", "intend", "maintain", "continue to", "pursue", "design", "result in", "sustain" "estimate", "potential", "growth", "near-term", "long-term", "forecast", "contingent" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. The forward-looking statements contained in this announcement speak only as of the date hereof and are expressly qualified by this cautionary statement.

Forward-looking statements are based upon, among other things, factors, expectations and assumptions that Sintana has made as at the date of this announcement regarding, among other things, the receipt of all applicable regulatory approvals and the anticipated schedule for receipt of funds pursuant to the Settlement Agreement.

Undue reliance should not be placed on the forward-looking statements because no assurance can be given that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These risks include, but are not limited to, the ability of Sintana to receive all necessary regulatory approvals and third party satisfaction of all conditions of the Settlement Agreement.

Except as may be required by applicable securities laws, Sintana does not assume any obligation or intent to update publicly or revise any forward-looking statements made herein, whether as a result of new information, future events or otherwise.

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

What is the size and schedule of Sintana Energy's AREA OFF-1 3D seismic survey (SEUSF)?

The survey covers about 4,300 km2 with fieldwork in Feb–Apr 2026 and Nov 2026–Apr 2027. According to the company, most key-prospect acquisition is expected in the first season, accelerating initial interpretation timelines.

What stake does Sintana Energy hold in AREA OFF-1 after the 2025 farm-out (SEUSF)?

Sintana holds a 40% non-operated interest in AREA OFF-1 following the 2025 farm-out of 60% to a Chevron affiliate. According to the company, Sintana is carried for the total anticipated seismic acquisition costs.

When will Sintana Energy publish initial and full seismic results for AREA OFF-1 (SEUSF)?

Fast-track results from the first season are expected in Q4 2026, with full PSDM results by Q2 2027. According to the company, these staged deliveries will support follow-up prospect evaluation and planning.

Who is conducting the AREA OFF-1 seismic acquisition for Sintana Energy (SEUSF)?

The contractor Viridien is operating the survey using the BGP Prospector vessel. According to the company, the contractor will execute acquisition across both planned seasons covering the full 4,300 km2 area.

How does being "carried" affect Sintana Energy's financial exposure for the AREA OFF-1 survey (SEUSF)?

Being carried means Sintana is not funding its share of the anticipated seismic costs during the program. According to the company, this reduces near-term capital requirements while preserving its 40% interest.

Did legal or activist actions affect commencement of the AREA OFF-1 seismic program (SEUSF)?

Court challenges by activist groups were rejected before commencement, and acquisition began as planned. According to the company, this outcome followed thorough preparatory permitting and consultation work in Uruguay.