--News Direct--
Founding Partner of Auctus Advisors LLP Stephane Foucaud speaks to Thomas Warner from Proactive about Sintana Energy (TSX-V:SEI) (OTCQB:SEUSF) and its prospects in the offshore Namibian energy sector.
Namibia, historically overlooked in the oil and gas industry, has seen a transformative shift with major discoveries by Shell and TotalEnergies in the Orange Basin. Foucaud explains that Sintana Energy, being a smaller player, secured its position in a competitive region through astute timing. Acquiring exploration licenses just months before the pivotal discoveries, the company strategically partnered with Chevron and Woodside, who quickly invested around $40 million each for seismic exploration on Sintana's licenses.
The interview revealed that Sintana has not disclosed specific resource estimates, but based on the substantial investments made by its partners, the potential value of its blocks is estimated to be significant. Moreover, a similar company, Impact Oil & Gas, with a 20% stake in a discovery with Total, recently raised $800 million, suggesting substantial value for Sintana's assets. Notably, Sintana benefits from a unique funding arrangement. Its partners, including Chevron and Woodside, carry the substantial drilling costs, reducing the risk of dilution for Sintana and its shareholders.
Foucaud suggests overall that Sintana Energy's strategic timing and partnerships position it favourably in Namibia's burgeoning offshore energy sector,
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View source version on newsdirect.com: https://newsdirect.com/news/sintana-energy-investors-getting-exposure-to-supermajor-level-exploration-targets-analyst-759204796
