Sintana Energy advances deal to acquire KON-16 in Angola

Energy Oil & Gas Written by: Jamie Ashcroft 07:43 Thu 10 Sep 2026 --> Proactive has a commercial relationship with Sintana Energy Inc. This article was produced independently under Proactive's Editorial Standards Policy . Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009, Jamie contributed... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Sintana Energy Inc ( TSX-V:SEI OTCQB:SEUSF AIM:SEI ) View Price & Profile Sintana Energy advances deal to acquire KON-16 in Angola Published: 07:43 10 Sep 2026 BST Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, FRA:3ZX1, AIM:SEI) has signed definitive agreements for its proposed entry into Angola’s Block KON-16, securing an indirect 5% participating interest as the partners work towards a pre-salt exploration well in 2027. The company will pay US$2.5 million for the interest, including US$500,000 already paid to Corcel PLC (AIM:CRCL, FRA:RM4B) and a further US$2 million due on completion. Sintana will also receive a 2.5% net profit interest in Corcel’s net proceeds from the block after first oil until aggregate payments reach US$50 million, reducing to 1.5% thereafter. The transaction remains conditional on government, regulatory and third-party approvals, including requirements in Angola and under AIM and TSX Venture Exchange rules. Sintana said these are expected to be completed before the end of 2026. Corcel noted it has received final processed volumes from recently acquired 2D seismic, completed a geomechanical programme and appointed NRG for the next phase of engineering and well design. A pre-salt exploration well is targeted for 2027, subject to technical selection, approvals, financing, rig availability and partner alignment. Continue reading