REG - Synergia Energy Ltd - Cambay Work Program update

Synergia EnergyAnnouncement

11/09/2024 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:20240911:nRSK6466Da&default-theme=true

RNS Number : 6466D  Synergia Energy Ltd  11 September 2024

 

RNS Announcement

 

11 September 2024

 

AIM: SYN

Cambay Work Program update

 

Synergia Energy Ltd ("Synergia" or the "Company") provides the following
update regarding the planned work program associated with the Company's Cambay
Field Production Sharing Contract ("Cambay PSC") in Gujarat State, India.

Synergia's joint venture partner, Selan Exploration Technology Limited
("Selan"), is lead joint operator on the Cambay PSC pursuant to the closing of
the farm-out agreement on 1 August 2024, with a 50% working interest in the
PSC.

Selan plan to conduct workover operations on a minimum of 3 wells and
potentially up to 6 wells on the Cambay PSC. The candidate wells are C-20,
C-63, C-64, C-70, C-73 and C-77. All workover candidates are currently being
evaluated with respect to sequencing and technical requirements. Workover
operations are planned to commence in October 2024 and once completed, will be
followed by the drilling of two new vertical wells and one new horizontal
well. It is anticipated that the workover program will be of approximately 6
months' duration. Synergia will be carried by Selan through the agreed US$20
million work program.

 

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

 

 

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  UPDQBLFFZKLLBBB