Sintana Energy has completed the acquisition of Challenger

Sintana Energy Inc. (TSXV: SEI) (OTCQX: SEUSF) has officially completed the acquisition of Challenger Energy Group plc (LON: CEG) (OTCQB:BSHPF) following the effective date of a court-sanctioned scheme of arrangement.

Sintana Energy is engaged in petroleum and natural gas exploration and development activities across five large, highly prospective onshore and offshore petroleum exploration licenses in Namibia, as well as in Colombia’s Magdalena Basin. The company’s exploration strategy focuses on acquiring, exploring, developing and producing high-quality assets with substantial value-added potential.

Challenger is an oil and gas exploration company publicly listed on the AIM market of the London Stock Exchange (AIM). The company is focused on offshore Uruguay, holding interests in two blocks: AREA OFF-1, with a 40% working interest alongside Chevron, which holds a 60% working interest and acts as operator; and AREA OFF-3, where Challenger holds a 100% working interest and serves as operator. Challenger is the only junior company with a significant offshore position in Uruguay and the wider region, as well as holding legacy assets in The Bahamas.

Oaklins Cavendish, one of Oaklins’ member firms in the UK, acted as the financial advisor to Sintana Energy Inc. on its recommended all-share acquisition of Challenger Energy Group plc, which has now been approved. The team is also acting as broker to Sintana in connection with its proposed admission to AIM, with dealings in Sintana’s shares expected to commence on or around 23 December 2025.