Sintana Energy Expands Footprint in Angola with Strategic Stake in Kwanza Basin

Key Highlights:

• Sintana acquires indirect 5% net interest in KON-16 block, Kwanza Basin, Angola
• Partnership with Corcel plc offers exposure to high-potential, underexplored basin
• Transaction valued at US$2.5 million; closing expected in Q3 2025
• Stock dips 1.56% intraday to CAD $0.63 amid broader market softness

Toronto-based explorer Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) has made a bold move into Angola’s energy-rich terrain, announcing a strategic partnership with Corcel plc focused on the underexplored Kwanza Basin. The company’s stock edged 1.56% lower to CAD $0.63 at mid-day Wednesday, slightly off its previous close of $0.64, as markets digested the long-term implications of the deal.

Under the agreement, Sintana will acquire an indirect 5% net interest in KON-16, a highly prospective block within the Kwanza Basin. This is being executed via a 5.88% equity stake in a newly formed SPV that consolidates Corcel’s 85% interest in the block. Additionally, Sintana will earn a 2.5% Net Profits Interest (NPI) on up to US$50 million of Corcel’s revenue from KON-16, which will reduce to 1.5% thereafter.

The US$2.5 million transaction—starting with an initial US$500,000 deposit—is expected to close in Q3 2025, subject to final documentation and approvals.

Why the buzz? KON-16 is widely viewed as a crown jewel in Angola’s onshore exploration portfolio. Existing data highlights multiple high-impact prospects with several hundred million barrels of unrisked recoverable oil. The block spans both post- and pre-salt petroleum systems, akin to Brazil’s successful offshore basins.

Sintana and Corcel have also signed a Joint Study and Bid Agreement, signaling a deeper alliance to evaluate future E&P opportunities across Angola. This positions Sintana as a nimble but ambitious player expanding across the Atlantic Margin.

“This is a strategic leap into one of Africa’s last great frontier basins,” said CEO Robert Bose, adding that the partnership reflects Sintana’s capital-light approach to high-upside energy plays.

Sintana already holds six petroleum licenses in Namibia and Colombia, and the Angola entry amplifies its geographic and geological diversification—while strengthening exposure to fast-growing African energy markets.