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 Synergia Energy Ltd Briana Stayt Investor Relations Email: bstayt@synergiaenergy.com Tel: +61 8 9485 3200 Australia | AIM Joint Broker Panmure Liberum Ltd Broker Mark Murphy / Rauf Munir / Freddie Wooding Tel: +44 (0)20 7886 2500 UK | AIM Joint Broker Novum Securities Broker Colin Rowbury Email: crowbury@novumsecurities.com Tel: +44 20 7399 9427 UK | AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Ritchie Balmer / Rory Murphy Tel: +44 20 7409 3494 UK | Media Enquires (UK) Vigo Consulting Investor Relations Patrick d'Ancona / Finlay Thomson Email: patrick.dancona@vigoconsulting.com finlay.thomson@vigoconsulting.com Tel:+ 44 20 7390 0230 UK |
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