REG - Gunsynd PLC - Omega Oil & Gas - Investee Company Update

GunsyndAnnouncement

27/02/2025 14:30

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RNS Number : 7613Y  Gunsynd PLC  27 February 2025

Gunsynd plc

 

("Gunsynd" or the "Company")

 

Omega Oil & Gas - Investee Company Update

Gunsynd Plc (AIM: GUN) notes the announcement by its investee company Omega
Oil and Gas Limited ("Omega"), an ASX listed Australian energy and resources
company focused on natural gas exploration and oil production (ASX: OMA), on
its Basin-Centred Gas drilling campaign.

KEY POINTS

Omega set to commence Canyon-1H Fracture Stimulation Program

Fracture stimulation and flowback testing program is scheduled to begin on 2
March 2025

Estimated duration of 5-7 days followed by a flow test of approximately 30
days duration.

Objective of this testing program is to demonstrate potentially commercial
flow rates from the Canyon Sandstone.

Gunsynd subscribed for 450,000 shares at AUD 20 cents per ordinary share for a
total consideration of AUD$90,000 (approximately £50,000) as part of the IPO
fundraising announced on 25 October 2022.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

The Directors of Gunsynd accept responsibility for this announcement.

 

 

For further information please contact:

 

 Gunsynd plc

 Hamish Harris / Peter Ruse                    +44 (0) 78 7958 4153

 Cairn Financial Advisers LLP

 Liam Murray / James Western / James Caithie   +44 (0) 20 7213 0880

 Peterhouse Capital Limited

 Lucy Williams                                 +44 (0) 20 7469 0936

 

 

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