SYN Synergia Energy Ltd

RNS Announcement

8 November 2024

AIM: SYN

The Board of Synergia Energy Limited (Synergia or the Company) is pleased to announce the following update on operations being conducted on its Cambay PSC (WI: 50%) in India.

Operational update

As previously announced, the Company has completed its farm out of a 50% working interest in its Cambay PSC in India to Selan Exploration Limited ("Selan"). Selan have now commenced the agreed $20 million work program on the Cambay Field PSC, for which Synergia is to be carried by Selan.

Preparatory work at the wellsite, including bush clearing and road access, is complete for wells C-70, C-63, C-72, C-74, C-77H, C-73, and C-64. Selan have carried out well pad cleanups, levelling and surface preparatory jobs for slickline operation, machinery access and workover rig setup.

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

A suitable (30 MT) workover rig has been contracted together with a wireline unit and other key equipment items for the planned first two well workover operations.

Slickline operations commenced on November 6, to be followed by circulation, activation, and periodic liquid level surveys.

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

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