Sintana Energy (SEI) Q2 2025 earnings summary

Executive summary

• Focused on oil and gas exploration in Namibia and Colombia, with recent expansion into Angola through a strategic partnership.

• Completed acquisition of a 49% interest in Giraffe, securing a carried interest in Namibia's PEL 79.

• No operating income; activities remain in early-stage exploration and development.

Financial highlights

• Net loss of $6,000,438 for the six months ended June 30, 2025, compared to $6,161,448 for the same period in 2024.

• Cash and cash equivalents of $15,297,087 as of June 30, 2025, down from $18,067,763 at December 31, 2024.

• Working capital of $14,713,372 at June 30, 2025.

• Accumulated deficit increased to $116,143,157 from $110,127,660 at year-end 2024.

• No warrants outstanding as of June 30, 2025.

Outlook and guidance

• Material uncertainties exist regarding the ability to secure future financing and continue as a going concern.

• Additional financing and successful exploration are required for long-term viability.