REG - Synergia Energy Ltd - Cambay Update

Synergia EnergyAnnouncement

13/04/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230413:nRSM9976Va&default-theme=true

RNS Number : 9976V  Synergia Energy Ltd  13 April 2023

RNS Announcement

 

13 April 2023

AIM: SYN

Cambay Update

 

Synergia Energy Ltd (the "Company" or "Synergia") is pleased to provide the
following update concerning the Cambay PSC.

 

The jet pump artificial lift equipment for the C-77H well is on schedule for
delivery late May / early June 2023. The jet pump equipment will have
sufficient capacity to lift not only the fluids from the two currently
producing re-frac zones, but also the fluids associated with the original four
fracked zones that are currently isolated with a bridge plug. Consequently the
Company plans to remove the bridge plug and re-connect the four original zones
when the well is re-completed with the jet pump artificial lift system.

 

The currently producing two C-77H re-frac zones continue to produce on plateau
at c. 150,000 SCFD, despite the extensive column of condensate in the well.
The Company anticipates that production from these two zones will be enhanced
by the jet pump installation and this enhanced production will be further
increased by the contribution of the re-connected original four zones in the
C-77H well.

 

The farm out discussions are ongoing and the Company does not anticipate that
the C-77H artificial lift implementation will have an impact on the farm out
process being concluded.

 

 

For and on behalf of Synergia Energy Limited

Roland Wessel

CEO

 

 

 

 

For further information, please contact:

 

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

 Synergia Energy Ltd                  Novum Securities                      Strand Hanson Limited              Vigo Consulting

 Briana Stayt                         Broker                                Nominated Adviser                  Investor Relations

 Investor Relations                   Colin Rowbury                         Ritchie Balmer/Rory Murphy         Patrick d'Ancona / Finlay Thomson

 Email:  bstayt@synergiaenergy.com    Email: crowbury@novumsecurities.com   Tel: +44 20 7409 3494              Email: patrick.dancona@vigoconsulting.com

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

 Australia                            UK                                                                       Tel:+ 44 20 7390 0230 UK

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDNKBBKDBKDAQD