Canadian oil and gas exploration company Sintana Energy has raised $11.5 million through a new fundraise, strengthening its capital base to advance offshore drilling and seismic campaigns in Namibia and Angola during 2026 and beyond.
The capital raise follows Sintana’s April 2026 agreement securing a period of exclusivity from Paragon Oil & Gas to evaluate the potential acquisition of an indirect interest in Namibia’s Petroleum Exploration License (PEL) 37. The company will combine the new funds with existing cash reserves and proceeds from its Chevron transaction in Colombia to fund its strategic priorities, including exploration wells with TotalEnergies in PEL 83 and with Chevron in PEL 90.
The proceeds will also help fund Sintana’s acquisition of the KON-16 asset in Angola, with the company targeting completion of seismic interpretation on the asset during 2026. CEO Robert Bose noted that the company has significant operational activity expected across 2026–2027, including three carried wells to be drilled by operator-elect TotalEnergies, a carried well on PEL 83, and seismic activities on OFF-1, alongside potential farm-outs across multiple blocks.
Sintana’s 2027 strategy includes a planned exploration well with Chevron in PEL 82 in Namibia’s Walvis Basin and another at Angola’s KON-16 block, while the company is also targeting a final investment decision alongside TotalEnergies for the Mopane discovery in PEL 83 by 2028.
Source: prospect-intel.com