Picture: Challenger Power
Sintana Power Inc. has agreed to accumulate Challenger Power Group PLC in an all-share transaction valued at roughly C$83.6 million (US$61 million). The mix of Challenger and Sintana is predicted to create a number one exploration platform spanning the Southern Atlantic conjugate margin, with a mixed portfolio providing high-impact publicity to 2 of the world’s at the moment most energetic and rising hydrocarbon exploration geographies.
Challenger, listed on London’s AIM market, holds key offshore Uruguay belongings—AREA OFF-1 (40% curiosity, operated by Chevron) and AREA OFF-3 (100% curiosity and operator)—in addition to legacy positions in The Bahamas. The corporate is the one junior with a fabric offshore footprint in Uruguay. Sintana mentioned the acquisition will add complementary acreage and speed up its strategic aim of constructing a number one Southern Atlantic exploration firm with diversified publicity to high-impact basins and partnerships with main operators.
The transaction will end in Challenger shareholders proudly owning about 25% of Sintana’s issued share capital upon completion, anticipated by year-end 2025, pending regulatory and shareholder approvals. Sintana additionally plans to hunt admission to buying and selling on London’s AIM alternate within the fourth quarter of 2025, although this isn’t a situation of closing.
The mixed firm’s portfolio will embrace eight licenses throughout Namibia and Uruguay, anchored by Sintana’s curiosity in Namibia’s Mopane discoveries and Challenger’s exploration prospects offshore Uruguay. The merger brings collectively a administration staff with deep exploration expertise, over $10 million in accessible money sources, and enhanced entry to capital to advance seismic and drilling applications throughout its expanded acreage.
“The mix of Sintana and Challenger delivers on our long-term technique to create and execute on a portfolio of high-impact exploration alternatives,” mentioned Robert Bose, Sintana’s CEO. “By extending our footprint from Namibia and Angola to Uruguay, we’re positioned as a market chief alongside the Atlantic margin with a diversified and growth-oriented asset base.”
