Update on GOI Approval, Working Interest Transfer

Synergia Energy Ltd

07 May 2024

 

RNS Announcement

7 May 2024

AIM: SYN

Update on Government of India Approval for Working Interest Transfer

Further to its announcement on 14 February 2024, Synergia Energy Limited ("Synergia" or the "Company") provides the following update regarding the pending approval by the Government of India ("GOI") for the transfer of a 50% interest in the Company's Cambay Field Production Sharing Contract ("Cambay PSC") to Selan Exploration Technology Limited ("Selan").

Extensive dialogue between Synergia and the two GOI regulators, the Directorate General of Hydrocarbons ("DGH") and the Ministry of Petroleum and Natural Gas ("MOPNG"), has been underway since early March 2024 to expedite the transfer of the 50% interest in the Cambay PSC to Selan.

At this time, Synergia believes all the necessary formalities have now been processed for the GOI approval to be issued once Ministerial sign-off has occurred.

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 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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