TIDMSYN

RNS Number : 8344E

Synergia Energy Ltd

04 July 2023

RNS Announcement

4 July 2023

AIM: SYN

Cambay C-77H Artificial Lift Update

Synergia Energy Ltd (the "Company" or "Synergia") is pleased to provide the following update concerning implementation of artificial lift equipment for the Cambay C-77H well.

The workover rig is now scheduled to arrive on the Cambay location on July 12(th) and to commence workover operations on July 14(th) .

The workover program has been modified at the request of the Directorate of Hydrocarbons ("DGH"). The revised program calls for the removal of the production tubing and milling out of the bridge plug that currently isolates the original four fracked zones from the two currently producing re-frac zones. The production tubing will be re-inserted and per the DGH request, the well will be flowed for a period to establish a baseline of production without artificial lift. During the period of baseline establishment, the workover rig will be deployed to the nearby C-19z oilwell to conduct a de-waxing operation lasting approximately 5 days. Following the C-19z workover, the rig will return to the C-77H well to install the jet pump. The revised program will facilitate a direct comparison of well performance with and without artificial lift.

For and on behalf of Synergia Energy Limited

Roland Wessel

CEO

For further information, please contact:

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

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July 04, 2023 02:00 ET (06:00 GMT)

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