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Sintana Announces Amendment of VMM-37 Farmout Agreement
Sintana Announces Amendment of VMM-37 Farmout Agreement
TORONTO, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Sintana Energy Inc. (TSXV: SEI) (the "Company" or "Sintana") is pleased to announce that its indirect wholly-owned subsidiary, Patriot Energy Oil and Gas Inc. ("Patriot") has entered into an amendment agreement (the "Amendment Agreement") to the farmout agreement with ExxonMobil Exploration Colombia Limited ("ExxonMobil") with respect to the 43,158 acres property known as the VMM-37 block located in the Middle Magdalena Valley (VMM) Basin, Columbia ("VMM-37"). Patriot and ExxonMobil previously entered into a farmout agreement (the "ExxonMobil Agreement") for the exploration and development of unconventional crude oil and natural gas resources underlying VMM-37 pursuant to which Patriot retained a 30% carried participation interest in the unconventional resources. The Amendment Agreement provides Patriot the option to participate in post-contracts occurring after ExxonMobil's VMM 37 Platero #1 Comprehensive Research Pilot Project ("CEPI") is completed. In consideration of ExxonMobil's work in connection with the CEPI, the Company has agreed to adjust its carried participation interest in the unconventional resources to 25%. Patriot and ExxonMobil have entered into the Amendment Agreement to reflect this adjustment and ratify the commercial arrangement between the parties.
Chief Executive Officer Doug Manner commented: "We are pleased to have successfully completed negotiations with ExxonMobil regarding ratification of our commercial arrangement with Exxon and a path forward post completion of the CEPI."
About Sintana
The Company is currently engaged in hydrocarbons exploration and development activities in Colombia's Magdalena Basin. Sintana's business strategy is to acquire, explore, develop and produce superior quality assets with significant reserves potential.
On behalf of Sintana Energy Inc.,
"Douglas G. Manner"
Chief Executive Officer
For additional information regarding Sintana and ongoing corporate activities, please visit the Company's website at www.sintanaenergy.com.
Corporate Contact: | Corporate Contact: |
Douglas G. Manner | Sean J. Austin |
Chief Executive Officer | Vice President |
Tel: 832.279.4913 | Tel: 713.825.9591 |
Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks related to the prospective nature of VMM-37, currency risk, political and security risks relating to operations in Colombia, availability of capital, permitting and land title issues, the risks inherent in oil and gas exploration and development activities, and such other risk factors as are set forth in the Company's continuous disclosure documents available on SEDAR from time to time. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company disclaims any obligation to update the forward-looking statements contained herein other than as required under applicable securities laws.
TORONTO, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Sintana Energy Inc. (TSXV: SEI) (the "Company" or "Sintana") is pleased to announce that its indirect wholly-owned subsidiary, Patriot Energy Oil and Gas Inc. ("Patriot") has entered into an amendment agreement (the "Amendment Agreement") to the farmout agreement with ExxonMobil Exploration Colombia Limited ("ExxonMobil") with respect to the 43,158 acres property known as the VMM-37 block located in the Middle Magdalena Valley (VMM) Basin, Columbia ("VMM-37"). Patriot and ExxonMobil previously entered into a farmout agreement (the "ExxonMobil Agreement") for the exploration and development of unconventional crude oil and natural gas resources underlying VMM-37 pursuant to which Patriot retained a 30% carried participation interest in the unconventional resources. The Amendment Agreement provides Patriot the option to participate in post-contracts occurring after ExxonMobil's VMM 37 Platero #1 Comprehensive Research Pilot Project ("CEPI") is completed. In consideration of ExxonMobil's work in connection with the CEPI, the Company has agreed to adjust its carried participation interest in the unconventional resources to 25%. Patriot and ExxonMobil have entered into the Amendment Agreement to reflect this adjustment and ratify the commercial arrangement between the parties.
多倫多,2021年11月23日(環球通訊社)--Sintana Energy Inc.(多倫多證券交易所股票代碼:SEI)(The Sintana Energy Inc.)公司“或”辛塔納)高興地宣佈,其間接全資子公司愛國者能源石油天然氣公司(“愛國者能源石油天然氣公司”)愛國者“)已簽訂修訂協議(”修正協議“)與埃克森美孚哥倫比亞勘探有限公司的分包協議(”埃克森美孚“)關於位於中馬格達萊納山谷(VMM)盆地的43,158英畝的VMM-37區塊,哥倫比亞(”VMM-37“)。愛國者和埃克森美孚之前簽訂了分包協議(”埃克森美孚協議
Chief Executive Officer Doug Manner commented: "We are pleased to have successfully completed negotiations with ExxonMobil regarding ratification of our commercial arrangement with Exxon and a path forward post completion of the CEPI."
首席執行官Doug Way説:“我們很高興成功地完成了與埃克森美孚就批准我們與埃克森美孚的商業安排的談判,以及CEPI完成後的前進道路。”
About Sintana
The Company is currently engaged in hydrocarbons exploration and development activities in Colombia's Magdalena Basin. Sintana's business strategy is to acquire, explore, develop and produce superior quality assets with significant reserves potential.
關於辛塔納
該公司目前在哥倫比亞馬格達萊納盆地從事碳氫化合物勘探和開發活動。Sintana的業務戰略是收購、勘探、開發和生產具有巨大儲量潛力的優質資產。
On behalf of Sintana Energy Inc.,
"Douglas G. Manner"
Chief Executive Officer
我代表辛塔納能源公司,
“道格拉斯·G·威德”
首席執行官
For additional information regarding Sintana and ongoing corporate activities, please visit the Company's website at www.sintanaenergy.com.
欲瞭解有關Sintana和正在進行的公司活動的更多信息,請訪問公司網站:www.sintanaenergy.com。
Corporate Contact: | Corporate Contact: |
Douglas G. Manner | Sean J. Austin |
Chief Executive Officer | Vice President |
Tel: 832.279.4913 | Tel: 713.825.9591 |
公司聯繫人: | 公司聯繫人: |
道格拉斯·G·威德 | 肖恩·J·奧斯汀 |
首席執行官 | 美國副總統 |
電話:832.279.4913 | 電話:713.825.9591 |
Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
多倫多證券交易所創業板交易所及其監管服務提供商均未對本新聞稿的充分性或準確性進行審查或承擔責任。
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks related to the prospective nature of VMM-37, currency risk, political and security risks relating to operations in Colombia, availability of capital, permitting and land title issues, the risks inherent in oil and gas exploration and development activities, and such other risk factors as are set forth in the Company's continuous disclosure documents available on SEDAR from time to time. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company disclaims any obligation to update the forward-looking statements contained herein other than as required under applicable securities laws.
前瞻性聲明-本新聞稿中陳述的某些信息可能包含前瞻性聲明,涉及大量已知和未知的風險和不確定性,包括與VMM-37的預期性質有關的風險、貨幣風險、與哥倫比亞運營有關的政治和安全風險、資本的可用性、許可和土地權問題、石油天然氣勘探開發活動中固有的風險,以及公司在SEDAR上不時發佈的持續披露文件中陳述的其他風險因素。這些前瞻性陳述會受到許多風險和不確定因素的影響,其中某些風險和不確定因素是公司無法控制的。請讀者注意,編制這些信息時使用的假設雖然在編制時被認為是合理的,但可能被證明是不準確的,因此不應過度依賴前瞻性陳述。除適用的證券法要求外,公司不承擔更新本文中包含的前瞻性陳述的任何義務。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc和Moomoo Securities Malaysia Sdn. Bhd., 是關聯公司。
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