TIDMSYN

RNS Number : 9976V

Synergia Energy Ltd

13 April 2023

RNS Announcement

13 April 2023

AIM: SYN

Cambay Update

Synergia Energy Ltd (the "Company" or "Synergia") is pleased to provide the following update concerning the Cambay PSC.

The jet pump artificial lift equipment for the C-77H well is on schedule for delivery late May / early June 2023. The jet pump equipment will have sufficient capacity to lift not only the fluids from the two currently producing re-frac zones, but also the fluids associated with the original four fracked zones that are currently isolated with a bridge plug. Consequently the Company plans to remove the bridge plug and re-connect the four original zones when the well is re-completed with the jet pump artificial lift system.

The currently producing two C-77H re-frac zones continue to produce on plateau at c. 150,000 SCFD, despite the extensive column of condensate in the well. The Company anticipates that production from these two zones will be enhanced by the jet pump installation and this enhanced production will be further increased by the contribution of the re-connected original four zones in the C-77H well.

The farm out discussions are ongoing and the Company does not anticipate that the C-77H artificial lift implementation will have an impact on the farm out process being concluded.

For and on behalf of Synergia Energy Limited

Roland Wessel

CEO

For further information, please contact:

 
 Investor Enquires                AIM Broker                      AIM Nominated          Media Enquires 
 Synergia Energy                  Novum Securities                 Adviser               (UK) 
 Ltd                              B roker                          Strand Hanson         Vigo Consulting 
 Briana Stayt                     Colin Rowbury                    Limited               Investor Relations 
 Investor Relations               Email:                           Nominated Adviser     Patrick d'Ancona 
 Email:                           crowbury@novumsecurities.com     Ritchie Balmer/Rory   / Finlay Thomson 
 bstayt@synergiaenergy.com        Tel: +44 20                      Murphy                Email: 
 Tel: +61 8 9485                  7399 9427                        Tel: +44 20 7409      patrick.dancona@vigoconsultin 
 3200                             UK                               3494                  g.com 
 Australia                                                         UK                    finlay.thomson@vigoconsulting 
                                                                                         .com 
                                                                                         Tel:+ 44 20 7390 
                                                                                         0230 UK

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April 13, 2023 02:00 ET (06:00 GMT)

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