Share price3 Mar 2026 14:33
So, the seismic has started on AREA OFF-1, the offshore Uruguay block operated by Chevron and 40% owned by Sintana. The process is split into two periods, it will firstly run from now until April and then from November until April 2027, mainly in the first period and fast-track processing should deliver results should be available in 4Q 2026 and full PDSM by 2Q 2027.
The seismic data will be used to make a drill decision for an initial exploration well for which Sintana is carried 50% by Chevron. This is very good news for the company as the first Uruguay block starts to get underway and the relationship with Chevron, here and in other parts of the portfolio is of huge importance.
This is in-line with the company having high quality partners, is fully funded across possibly the most exciting portfolio in the industry and with opportunities in key parts of the conjugate margin worldwide. Totally justified in the recent Bucket List I upped my TP to 75p which is easily justifiable on current metrics and may even be conservative, this is another, more than handy, tick in the Sintana box.