Sintana Energy to Acquire 67% of Giraffe Energy Investments in Namibia for $2 Million Cash Deal

Sintana Energy, a Canadian oil and natural gas company, has agreed to acquire up to 67% shares of Giraffe Energy Investments from Crown Energy in Namibia. Giraffe owns a 33% stake in Petroleum Exploration License 79 (PEL 79), while the remaining 67% is owned by the National Petroleum Corporation of Namibia (NAMCOR). As part of the acquisition, Sintana will partner with Quantum Xploration (QXI) to deepen its technical, operational, and in-country capabilities at Giraffe. The acquisition is subject to certain customary closing conditions and approval from the TSX Venture Exchange. Sintsana plans to make an initial purchase of 49% of the issued and outstanding shares from Crown in exchange for $2m in cash.