TIDMSYN

RNS Number : 2158K

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          AIM Joint Broker     AIM Joint Broker            AIM Nominated     Media Enquires 
 Synergia Energy             Panmure Gordon      Novum Securities             Adviser          (UK) 
 Ltd                         (UK) Ltd            Broker                       Strand Hanson    Vigo Consulting 
 Briana Stayt                Broker              Colin Rowbury                Limited          Investor Relations 
 Investor Relations          John Prior /        Email:                       Nominated        Patrick d'Ancona 
 Email:                      Mark Murphy         crowbury@novumsecurities.    Adviser          / Finlay Thomson 
 bstayt@synergiaenergy.co    / Hugh Rich         com                          Ritchie Balmer   Email: 
 m                           / Freddie Wooding   Tel: +44 20 7399             / Rory Murphy    patrick.dancona@vigocon 
 Tel: +61 8 9485             Tel: +44 (0)20      9427                         Tel: +44 20      sulting.com 
 3200                        7886 2500           UK                           7409 3494        finlay.thomson@vigocons 
 Australia                   UK                                               UK               ulting.com 
                                                                                               Tel:+ 44 20 7390 
                                                                                               0230 UK

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August 23, 2023 04:05 ET (08:05 GMT)

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