Last checked at 1 Dec 2022 07:00
ASX-RNS Announcement
1 December 2022
ASX: SYN / AIM: SYN
Cambay PSC Update
Synergia Energy Ltd (the "Company" or "Synergia") is pleased to announce the following update with respect to its Cambay India field.
Production
Gas production from the C-77H well continued to produce on a consistent plateau with an average gas rate of 270 MCFD for the month of November. Oil production from the field (including C-77H condensate) averaged 23 BOPD for the month.
An order for artificial lift equipment for the C-77H well is being placed with PCM, a world leader in progressive cavity pump (PCP) equipment. Delivery times are currently being finalised.
Cambay Farm Out Process
The farm out process of up to 50% of the Cambay PSC is currently work in progress with discussions underway with both potential farmees and key stakeholders such as the Directorate of Hydrocarbons. The primary objective of the farm out process is to facilitate the early initiation of a full field development commencing with the drilling of two new wells (C-78H and C-79H) that have fully developed well plans. The timing of these two new wells will be subject to agreement with the successful farmee. It is anticipated that the farm out process will continue into Q1 2023.
For and on behalf of Synergia Energy Ltd
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 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 |