Sintana Energy Inc. Bolsters Transparency with SEDAR Filing and Strategic Acquisitions

Sintana Energy Inc. (TSX-V: SEI) ("Sintana" or the "Company") has taken significant steps to enhance its transparency and financial reporting, as announced on January 16, 2025. The Company filed stand-alone executive compensation disclosure for the fiscal year ended December 31, 2023, at the request of staff of the Ontario Securities Commission. This filing addresses a deficiency in the Company's previous disclosure requirements and provides more detailed information about the compensation of Sintana's executives. This move aligns with the Ontario Securities Commission's requirements for public companies to provide such disclosure within six months of their fiscal year end.

In addition to the executive compensation disclosure, Sintana refiled its interim financial statements for the six-month period ended June 30, 2024 (the "Q2 FS") and the nine-month period ended September 30, 2024 (the "Q3 FS"), along with their related management's discussion and analysis ("MD&A"). The refiling corrected certain disclosure relating to the Company's acquisition of its initial 49% interest in Giraffe Energy Investments (Pty) Ltd. ("Giraffe"). Initially, the acquisition was recorded as an investment in a joint venture, but after further consultation, it was determined that Sintana indeed exercises control over Giraffe. This led to the consolidation of Giraffe in the Q3 FS, providing a more accurate representation of the Company's financial position and operations.

Furthermore, Sintana refiled its annual MD&A for the fiscal year ending December 31, 2023 to reflect the removal of certain estimates relating to PELs 83 and 90 that did not meet regulatory reporting requirements. This ensures that the Company's financial reporting is in compliance with regulatory standards, further enhancing transparency and reliability.

The stand-alone executive compensation disclosure, amended and restated Q2 FS and Q3 FS and related MD&A, and amended and restated annual MD&A for the fiscal year ended December 31, 2023, are each available on SEDAR+ at www.sedarplus.ca.

Sintana's acquisition of Giraffe Energy has several potential implications for its future operations and financials. The consolidation of Giraffe Energy means that Sintana's assets, liabilities, and equity could increase, as well as an impact on its revenue and expenses. This consolidation could lead to an increase in Sintana's financial position and performance. Additionally, the acquisition expands Sintana's presence in the Orange Basin in Namibia, which could lead to increased exploration and development activities. This could result in new discoveries and production, potentially contributing to future revenue and cash flow.



In conclusion, Sintana Energy Inc. has taken significant steps to enhance its transparency and financial reporting by addressing previous deficiencies, providing more detailed executive compensation disclosure, correcting the consolidation of Giraffe Energy, ensuring compliance with regulatory reporting requirements, and making the updated information easily accessible to investors and stakeholders. The acquisition of Giraffe Energy presents opportunities for increased exploration and development activities, potentially leading to new discoveries and production, and contributing to future revenue and cash flow. As Sintana continues to grow and expand its operations, investors and stakeholders can expect to see further enhancements in transparency and financial performance.