Member Info for in4cedros

“ I dannae is she can take any more, Captain! “

From today’s RNS:-

Suspension and cancellation of admission of Challenger Shares on AIM, listing of New Sintana Shares on the TSXV, and Sintana AIM admission

A request has been made for the suspension of trading in the Challenger Shares on AIM with effect from 7:30 a.m. on 16 December 2025. Accordingly, 15 December 2025 will be the last day of dealings in, and for the registration of transfers of, Challenger Shares. Subject to the Scheme becoming Effective, it is expected that admission to trading of the Challenger Shares on AIM will be cancelled by no later than 8:00 a.m. on 17 December 2025. A further announcement will be made when the Scheme has become Effective.

It is expected that Admission will become effective and dealings for normal settlement in the New Sintana Shares on the TSXV will commence at or shortly after 8:00 a.m. (Toronto time) on 23 December 2025.

As part of the Acquisition, Sintana will apply for admission of the Sintana Shares (including the New Sintana Shares) to trading on AIM as soon as practicable after the Effective Date, and it is expected that admission will become effective and dealings for normal settlement in the Sintana Shares (including the New Sintana Shares) on AIM will commence on or around 23 December 2025.

Santina - can only speculate at this time, anyone thinking they might want to avoid SIN?

CEG were certainly very close to that before Eytan pulled Uruguay out of the hat - he’s worth a WKD if you see him at your local!

Googosh- must be people are selling after seeing your price target on the basis you’re eventually going to back it up with some fundamental analysis.

Donal - I’m impressed you’ve made time to take an interest here - daily posting rate is somewhat lower than PRD but arguably less energy sapping!

Truly sagacious advice!

Laallee - I didn’t know he was a holder, but, if true, I’m pleased he profited from his experience with CEG. I’m assuming he did otherwise he’d be on here with the disgruntled cohort trolling rather than continually extolling the virtues .

Googosh - Certainly plenty of news to come within your timeline - quite often SP increases in expectation - many investors experienced it with this very share, but DYOR.

If you want to be a serious troll you need to come on here and tell us why the underlying assets are a pile of poop - start with OFF-1 which Chevron are leading with that deal Briggsy, amazingly seems to think is not relevant to CEG/Sintana. Obviously it’s not relevant to him cos he sold out for next to nothing after Bahamas drill failure!

Why are big companies still scrambling to get into Offshore Uruguay- doesn’t that augur well for OFF-3 farm out potential?

Tell the readers here about the Placing question - when do you think it’s likely and what’s cash needed for, noting PE -83 is carried.

Genuine questions, certainly as genuine as yours!

For new readers this is a quote from Briggsy just before Chevron announced their transformational deal with CEG!

Briggsy - Malcy had confidence in Uruguay and Sintana. Obviously readers should DYOR and remember words of the discredited. A blatant example appears below :-

“Why on earth would anyone want to give their money to a company with no credibility and run by amateurs and most importantly who on earth would want to partner with them. “

For new readers this is a quote from Briggsy just before Chevron announced their transformational deal with

Although I say it myself I’m on fire - if I post any more today there is a serious danger I might self destruct!

Thanks Stewart - have cut n pasted a tit bit from Malcy - the next James Bond?

“ My spies in the industry tell me that a number of these deals are imminent with rumours of Qatar Energy apparently farming-in to the Shell blocks and Chevron interested in other blocks having already shown their interest in the area. But apart from the official release from ANCAP above nothing has been confirmed publicly about them-yet…

In addition, adding excitement to the play it looks like APA are already talking about drilling their well on OFF-6 as soon as the end of next year. It will come as no surprise to readers that such excitement is being generated, as Eni point out, the area that they have farmed-into  ‘falls within the unexplored part of the Atlantic margin with close geologic analogies with proven petroleum basins’. 

In conclusion I think that this announcement validates everything that Challenger has said in recent years and undoubtedly means that their position, as holder of two of the most desired blocks offshore Uruguay, is of significant dominance. 

Without blowing any smoke, it does show that for a small company as CEG was at the time, acquiring these blocks without any major industry players finding out, was a master stroke which has already benefited by the farm-out of 60% of area OFF-1 to Chevron. 

The process between CEG and Sintana Energy is still ongoing but I can say that having been a huge fan of both companies before, I am of the view that as a combined entity, the new vehicle will have massive potential and with a first rate management and portfolio will be a must-have investment in the sector.”

What a legend- more of these links and you’ll even have BigSi converted!

There's a starman waiting in the sky

He's told us not to blow it

'Cause he knows it's all worthwhile ‘

Below is a twitter post regarding PEL 83 and Custos ( Sintana hold 49% of the 10% stake) . This allayed my concerns with regard to carrying costs. So development is being accelerated by a Major, cash conserved - what’s not to like!

Namibian Sun

@namibiansun

THE TIES THAT BIND: Knowledge Katti’s Custos Energy has confirmed that TotalEnergies will assume operatorship of Namibia’s petroleum exploration license (PEL) 83 from Galp and has acquire a 40% participating interest in the license.

The agreement triggers an accelerated exploration and appraisal program, including a minimum of three wells over the next two years, with the first potential well targeted for 2026.

PEL 83 is home to blocks 2813A and 2814B, situated in the Orange Basin off the coast of Namibia, currently operated by a subsidiary of Galp Energia, SGPS, S.A. The update outlines a major shift in operations, with TotalEnergies set to take over as the new operator of PEL 83.

Under the new agreement, TotalEnergies will acquire a 40% participating interest in PEL 83 from Galp, who previously held an 80% stake. Galp will continue to maintain 40% ownership in the block.

As part of the deal, TotalEnergies has committed to launching an exploration and appraisal campaign that includes at least three wells over the next two years, aimed at further de-risking the block and facilitating the development of an initial production hub.

The first potential well is currently under evaluation, with drilling expected to begin in 2026.

The agreement also includes a funding arrangement for Galp’s first development project in the Mopane field. As part of the deal, TotalEnergies will carry 50% of Galp’s investments in the project, which will be repaid from 50% of future cash flows from the project once commercial oil production begins.

Custos Energy, which holds a 10% working interest in PEL 83, will continue to benefit from this carry under the joint operating agreement. Namcor, Namibia’s national oil company, also holds 10%.

"As a proud Namibian partner with a 10% stake, Custos Energy is committed to working closely with TotalEnergies and Galp to achieve our shared objective of first oil, delivering transformative value for Namibia and all stakeholders," Katti said, on behalf of his company.

He highlighted the importance of the agreement for the Namibian economy, noting that the development will help the government achieve its goals outlined in the National Development Plan 6 (NDP6).

Custos Energy, founded by Katti over a decade ago, remains one of Namibia’s few local oil and gas exploration companies.

Name Severance Amount (CDN$) Common Shares



Keith Spickelmier ( CND$ ) 280,600 - Shares 539,615


Doug Manner ( CND$ ) 322,690 - Shares 620,558 



David Cherry ( CND$) 322,690 - Shares 620,558



Dean Gendron (CND$ ) 140,300 - Shares 269,808 



Bruno Maruzzo (CND$) 140,300 - Shares 269,808 



Simon Potter ( CND$ ) 98,210 - Shares188,865 



Stephen Bizzell ( CND$ ). 98,210 - Shares 188,865 



Eytan Uliel (CND$ ) 813,740 - Shares 1,564,885

Farm - my apologies - the table was perfect but I see it gets jumbled after pressing LSE post button

Farm - Here is an extract from Sintana site which seems much clearer - even Briggsy has a chance with that table!

Proposed issue of Severance Shares by Sintana

In connection with the Acquisition and following the Scheme becoming effective, Sintana proposes to issue an aggregate of 4,262,962 common shares in the capital of Sintana (the “Severance Shares“) at a deemed issue price of CDN$0.52 per share to the below directors and officers (the “Recipients“) of Sintana and Challenger in lieu of the CDN$2,216,740 owing to such individuals as part of their loss of office or directorship in connection with the Acquisition.

Name Severance Amount (CDN$) Common Shares

Keith Spickelmier 280,600 539,615

Doug Manner 322,690 620,558

David Cherry 322,690 620,558

Dean Gendron 140,300 269,808

Bruno Maruzzo 140,300 269,808

Simon Potter 98,210 188,865

Stephen Bizzell 98,210 188,865

Eytan Uliel 813,740 1,564,885

The Severance Shares will be issued outside of Sintana’s equity incentive plan as a one-time inducement and/or severance payment paid in accordance with the terms of Section 6.4 of TSXV Policy 4.4. – Security Based Compensation and the issuance remains subject to the final approval of the TSXV. The Severance Shares will be subject to a hold period of four months and one day from the date of issuance pursuant to the policies of the TSXV and securities laws.

Each Recipient other than Messrs Potter, Bizzell and Uliel is a “non-arm’s length party” of Sintana pursuant to the policies of the TSXV, and is a “related party” of Sintana within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“), as a result of which the issuance of the Severance Shares constitutes a “related party transaction” (as defined in MI 61-101) (the “Related Party Transaction“). The Company is exempt from the formal valuation and minority approval requirements of the Related Party Transaction pursuant to Sections 5.5(b) and 5.7(1)(a) of MI 61-101.

On behalf of Sintana Energy Inc.,

Robert Bose

Chief Executive Officer

Farm - the total Sintana shares involved, according to your post, are 4,262,962.

The numbers you post alongside the names amount to a tad more than that! Have you checked your source?

Farm - it says the sums are compensation for loss of office - are you able to share with us your calculations for the savings in salary/ benefits over the long term that may be the justification for the shares?

“ Look who got the money” - I’m looking are you suggesting anyone shouldn’t be getting it, if so, who and why?