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Sintana Energy raises $11.5M to fund Namibia oil exploration and drilling at Chevron-operated Nabba-1 well.

Market News
18 May 2026
Proactive Investors
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Bullish
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Sintana Energy Inc has raised $11.5 million through a share placement and subscription to support its exploration activities in Namibia, including drilling at the Chevron-operated Nabba-1 well in PEL 90. The fundraising involved issuing 38 million new shares at a discount, with participation from company executives and qualified investors. This capital boost, combined with existing funds and proceeds from an Exxon settlement in Colombia, will also finance acquisitions in Namibia's Walvis Basin and Angola's Kwanza Basin, positioning Sintana for expanded exploration efforts in these regions.

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