Sintana reports half-year of 'substantial delivery'

(Sharecast News) - Sintana Energy said in an update on Thursday that the first half of 2026 had brought "substantial delivery" across its portfolio, including TotalEnergies' farm-in to Namibia's PEL 83, a 57% resource upgrade at the Mopane project, and completion of the first season of 3D seismic acquisition at AREA OFF-1 in Uruguay. The AIM-traded company said Galp had lifted gross 3C contingent resources at Mopane to 1.38 billion barrels of oil equivalent from 875 million, implying around 67 million barrels net to Sintana's 4.9% indirect interest, while Chevron planned high-impact wells on PEL 90 by the end of 2026 and PEL 82 in 2027.

Chief executive Robert Bose said Sintana was "doing exactly what we said we would do," adding that the company was fully funded for the upcoming catalyst period, with cash of about $16.1m at 30 June and a further $6.75m of expected gross cash inflows over the next six months.

At 1044 BST, shares in Sintana Energy were up 4.44% at 18.8p.

Reporting by Josh White for Sharecast.com.

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