08:17 AM EST, 12/12/2024 (MT Newswires) -- Sintana Energy Inc. ( SEUSF ) , which gained 14.4% yesterday, overnight Wednesday provided further update regarding the second campaign on blocks 2813A and 2814B located in the heart of Namibia's Orange Basin.

A statement noted the blocks are governed by Petroleum Exploration License 83, which is operated by a subsidiary of Galp Energia of Portugal. Sintana maintains an indirect 49% interest in Custos Energy (Pty) Ltd., which owns a 10% working interest in PEL 83. NAMCOR, the National Petroleum Company of Namibia, also maintains a 10% working interest.

Sintana noted that Galp and its partners decided, further to recent successful appraisal operations conducted at the Mopane 1-A location as announced on December 2, to retain the Santorini drillship to continue the ongoing exploration and appraisal campaign during the southern hemisphere summer, while avoiding mobilisation and de-mobilisation costs.

"The acceleration of operations in this second campaign is emblematic of the ongoing progress at Mopane. We look forward to the exploration and appraisal activities anticipated over coming months to further unveil its world class scale and quality," said Robert Bose, Chief Executive Officer of Sintana.