From SP Angel 20th October revised broker note.23 Oct 2025 08:52
Just for information
"Synergia Energy* (SYN LN) 0.02p, Market Cap £2.9m: Rig-up operations commence at Cambay
• Synergia announced JV partner Antelopus Selan Energy (SELAN IN) has deployed the Aakash 50T workover rig to the
C-64 wellsite on the Cambay licence (50% WI) to undertake the installation of the sucker rod pump.
Good news from India for Synergia stakeholders following the restart of the workover programme on the Cambay PSC, which
targets delivering near-term gas production growth and has been delayed due to weather-related delays.
The C-64 well has historically been an intermittent oil producer and the installation of a sucker rod pump (SRP) is anticipated by
the JV to provide an enhanced and consistent production level.
Nonetheless, investors are likely focused on the progress of the proposed sale of the Company’s remaining 50% working interest
in the Cambay licence to its JV partner for a phased total cash consideration of $14m.
Following completion of the Cambay sale that requires shareholder approval and other conditions, Synergia’s strategy will be
reset, with a primary focus on CCS activities while remaining open to new opportunities that can deliver shareholder value. "