REG - Synergia Energy Ltd - Cambay Operational Update

Synergia EnergyAnnouncement

08/11/2024 07:00

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RNS Number : 4156L  Synergia Energy Ltd  08 November 2024

RNS Announcement

 

8 November 2024

 

AIM: SYN

Cambay Operational Update

 

The Board of Synergia Energy Limited (Synergia or the Company) is pleased to
announce the following update on operations being conducted on its Cambay PSC
(WI: 50%) in India.

 

Operational update

 

As previously announced, the Company has completed its farm out of a 50%
working interest in its Cambay PSC in India to Selan Exploration Limited
("Selan"). Selan have now commenced the agreed $20 million work program on the
Cambay Field PSC, for which Synergia is to be carried by Selan.

 

Preparatory work at the wellsite, including bush clearing and road access, is
complete for wells C-70, C-63, C-72, C-74, C-77H, C-73, and C-64. Selan have
carried out well pad cleanups, levelling and surface preparatory jobs for
slickline operation, machinery access and workover rig setup.

 

New pressure gauges have been installed by Selan to enable regular monitoring
of tubing head pressure (THP), casing head pressure (CHP), and production
data. Hydrotesting of all valves of the X-Mas tree assemblies are currently in
progress.

 

A suitable (30 MT) workover rig has been contracted together with a wireline
unit and other key equipment items for the planned first two well workover
operations.

 

Slickline operations commenced on November 6, to be followed by circulation,
activation, and periodic liquid level surveys.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

 

For and on behalf of Synergia Energy Limited

 

Roland Wessel

CEO

 

For further information, please contact:

 

 Investor Enquires           AIM Joint Broker                             AIM Joint Broker               AIM Nominated Adviser          Media Enquires (UK)

 Synergia Energy Ltd         Panmure Liberum Ltd                          Novum Securities               Strand Hanson Limited          Vigo Consulting

 Briana Stayt                Broker                                       Broker                         Nominated Adviser              Investor Relations

 Investor Relations          Mark Murphy / Rauf Munir / Freddie Wooding   Colin Rowbury                  Ritchie Balmer / Rory Murphy   Patrick d'Ancona / Finlay Thomson

 Email:                      Tel: +44 (0)20 7886 2500                     Email:                         Tel: +44 20 7409 3494          Email:

 bstayt@synergiaenergy.com   UK                                           crowbury@novumsecurities.com   UK                             patrick.dancona@vigoconsulting.com

 Tel: +61 8 9485 3200                                                     Tel: +44 20 7399 9427                                         finlay.thomson@vigoconsulting.com

 Australia                                                                UK                                                            Tel:+ 44 20 7390 0230

                                                                                                                                        UK

 

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