Sintana Energy to acquire Challenger Energy in all-share deal valued at £44.7M

* Sintana Energy (TSXV:SEI:CA [https://seekingalpha.com/symbol/SEI:CA]) has agreed to acquire Challenger Energy Group, an AIM-listed oil and gas explorer, in an all-share transaction.
* Challenger shareholders will receive 0.4705 Sintana shares for each Challenger share.
* The deal values Challenger at approx. £44.72M (C$83.63M), or 16.61 pence per share, representing a 44% premium to the October 8 closing price.
* Post-acquisition, Challenger shareholders will own ~25% of Sintana's issued share capital.
* Challenger’s key assets include offshore Uruguay blocks AREA OFF-1 (40% WI, operated by Chevron) and AREA OFF-3 (100% WI, operator), plus legacy assets in The Bahamas.
* Sintana plans to list its shares on AIM in Q4 2025 to support the transaction but notes that AIM admission is not a condition for closing.
* 34.2% of Challenger shareholders, including directors, have already committed to vote in favor of the deal.
* The acquisition closing is expected by year-end 2025.
* Source: Press release [https://seekingalpha.com/pr/20259984-sintana-energy-inc-announces-acquisition-of-challenger-energy-group-plc]

MORE ON SINTANA ENERGY INC.

* Financial information for Sintana Energy Inc. [https://seekingalpha.com/symbol/SEI:CA/income-statement]