Cambay C-77H Workover Update

Synergia Energy Ltd

23 August 2023

 

RNS Announcement

23 August 2023

AIM: SYN

Cambay C-77H Workover Update

Synergia Energy Ltd (the "Company" or "Synergia") provides the following update concerning the Cambay C-77H well workover.

Following the removal of the bridge plug that isolated the original 4 perforated and fracked zones from 2014, the production tubing was re-inserted into the well and the well placed on production to establish a production baseline without artificial lift. The well has stabilised at a gas production level of c. 130,000 - 150,000 SCFD. The well continues to exhibit severe liquid loading.

The planned installation of a jet pump artificial lift system and ancillary surface equipment is underway with civil works preceding the hook up of the surface pump and separator. Due to availability constraints, the workover rig will arrive on location on September 8^th to remove the production tubing and re-install the completion equipment, incorporating the concentric jet pump assembly.

The Company plans to announce the results of the well production with artificial lift as soon as production rates have stabilised.

For and on behalf of Synergia Energy Limited

Roland Wessel

CEO

For further information, please contact:

Investor Enquires Synergia Energy Ltd Briana Stayt Investor Relations Email:  [e-mail] Tel: [phone] Australia

AIM Joint Broker Panmure Gordon (UK) Ltd Broker John Prior / Mark Murphy / Hugh Rich / Freddie Wooding Tel: [phone] UK

AIM Joint Broker Novum Securities Broker Colin Rowbury Email:  [e-mail] Tel: [phone] UK

AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Ritchie Balmer / Rory Murphy Tel: [phone] UK

Media Enquires (UK) Vigo Consulting Investor Relations Patrick d'Ancona / Finlay Thomson Email: [e-mail] [e-mail] Tel:+ 44 20 7390 0230 UK

 

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