Synergia Energy shares up as highlights operations at Cambay in India

(Alliance News) - Synergia Energy Ltd on Friday announced an update on operations on its Cambay production sharing contract in India.

The Perth, Australia-based gas production and carbon capture firm reiterated that it completed its farm out of a 50% working interest in its Cambay PSC in India to Selan Exploration Ltd.

Selan has started the agreed USD20 million work programme on the production sharing contract for which Synergia is to be carried by Selan.

Synergia said preparatory work at the wellsite, including bush clearing and road access, is complete for seven wells.

"New pressure gauges have been installed by Selan to enable regular monitoring of tubing head pressure, casing head pressure, and production data. Hydrotesting of all valves of the X-Mas tree assemblies are currently in progress," it added.

Synergia shares rose 9.5% to 0.052 pence each on Friday morning in London.

By Tom Budszus, Alliance News slot editor

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