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02 June 2025 07:53:21
- Source: Sharecast
RNS Announcement
02 June 2025
AIM: SYN
Cambay PSC Update
Synergia Energy Ltd ("Synergia Energy" or the "Company") announces the following update with respect to its Cambay PSC (WI: 50%), onshore India.
Further to the Company's 4 April 2025 announcement, Synergia's joint venture partner, Selan Exploration ("Selan"), has now secured a drilling rig and related drilling services from DEEP Industries Limited to drill the first of three new wells under the $20 million work program on the Cambay PSC, where Synergia is fully carried by Selan in exchange for a 50% working interest in the Cambay PSC. Selan anticipates the drilling will commence in September 2025.
Additionally, Selan has now contracted a 50 tonne workover rig and workover operations on existing legacy wells will re-commence during June 2025. Production has been intermittent from these legacy wells since production recommenced in April 2022.
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:
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Investor Enquires Synergia Energy Ltd Briana Stayt Investor Relations Email: bstayt@synergiaenergy.com Tel: +61 8 9485 3200 Australia |
AIM Joint Broker SP Angel Corporate Finance LLP Broker Richard Hail / Devik Mehta Tel: +44 (0)20 3470 0470 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 |
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