Sintana Energy Inc. has been named to the TSX Venture (TSXV) 2024 Venture 50TM ranking, emerging as the top-performing company in the energy sector, a development attributed to its oil finds in Namibia.
The TSX Venture 50 is an annual ranking of the top-performing companies from the past year on the TSX Venture Exchange, a world-leading capital formation platform for early-stage growth firms.
The TSX Venture 50 recognizes the top 10 companies from each of five sectors: Clean Technology and Life Sciences, Diversified Industries, Energy, Mining, and Technology.
The companies are ranked based on three equally-weighted criteria: share price appreciation, market capitalization growth, and trading value.
The 50 companies on the 2024 TSX Venture 50 list had a combined market capitalization of US$23.1 billion, an increase of over US$7.5 billion over the course of 2023.
“We’re thrilled to be the top energy performer in the 2024 TSX Venture 50,” said Sintana CEO Robert Bose.
“Our recent successes in the Orange Basin demonstrate the timeliness of our entry into Namibia and have dramatically transformed our portfolio from a group of as-yet-unknown options to a high-potential indirect interest in a world-class discovery, enhanced by a considerable number of further prospects and options. We thank the TMX Group for supporting our growth and progress.”
This comes after last month Sintana Energy announced two significant light oil discoveries in the Mopane-1X exploration well in which Sintana has an indirect interest.
“These new discoveries underscore the region’s vast potential, with resources estimated at up to 10 billion barrels of original-oil-in-place in the Mopane prospect alone,” said the CEO.
The finds are part of initial exploration efforts within Petroleum Exploration License 83 in the region and are among multiple blocks that Sintana has an indirect carried interest in. The PEL 83 exploration campaign is led by Galp Energia, holding an 80% interest, alongside the National Petroleum Corporation of Namibia (Namcor) and Custos Energy (49% indirect ownership by Sintana) with 10% interests each.
