No oil: Sintana Energy optimistic despite Kapana 1-X outcome

Exploration map

 

TORONTO, 15 January 2025 — Sintana Energy Inc. has given an operational update on the Kapana 1-X exploration well, located on Block 2813B within Petroleum Exploration License 90 (PEL 90). The block is operated by Harmattan Energy Limited, a subsidiary of Chevron Corporation, with Trago Energy (Pty) Ltd., a Custos Energy subsidiary in which Sintana holds a 49% indirect interest, owning a 10% working interest in the license.

Chevron reported that while the well operations reached total depth 25% ahead of schedule, no commercial hydrocarbons were discovered. Despite this outcome, the drilling operations returned valuable geological data, bolstering confidence in the ongoing exploration efforts in Namibia’s Orange Basin.

Chairperson and CEO of Custos Energy and a director at Sintana, Knowledge Katti, says the findings are significant: “The geologic insights and improved confidence in the future program on PEL 90 provide strong support for continued progress and value in our portfolio in Namibia’s Orange Basin, the world’s exploration hotspot.”

CEO of Sintana Energy, Robert Bose, echoed this optimism, adding, “We look forward to further unveiling the quality of our unmatched position in the heart of the Orange Basin, including future activities on PEL 90 and ongoing operations on PEL 83.”

The Orange Basin continues to be a focal point for global energy exploration, with companies like Sintana and Custos pursuing promising opportunities despite challenges.