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 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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