Synergia Energy LtdLSE: SYN

Synergia Energy: Cambay PSC Update

· Issued by Synergia Energy Ltd via RNS

Summary by 6ix AI

Synergia Energy Limited said its Cambay joint venture partner and operator, Antelopus Selan Energy Limited (ASEL), now estimates that drilling of the planned new C-79 well in India will start in February / March 2027. ASEL had earlier indicated late November 2026.

Key details

  • Synergia holds a 50% working interest (its share of the project) in the Cambay PSC, a production sharing contract for oil and gas in India.
  • Synergia and ASEL are in broad agreement on the well's target in the Eocene (a geological rock layer), the well program and the fracking program, after detailed technical discussions.
  • ASEL said no firm date exists for moving the DEEP Industries drilling rig to the site. The rig is currently assigned to ONGC in Assam.

What’s still pending

  • The February / March 2027 start of drilling is ASEL's current estimate, and depends on the DEEP Industries rig, which has no firm mobilisation date.
  • Synergia will give an update on the C-79 well timing when ASEL provides more information.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/cambay-psc-update-2

Watch Synergia Energy's latest callSynergia Energy (LSE:SYN) — Investor Update · Replay · Oct 16, 2024Read the transcript of Synergia Energy (LSE:SYN) — Investor Update
Synergia Energy Ltd
04 November 2026
 

RNS Announcement

04 November 2026

AIM: SYN

Cambay PSC Update

Synergia Energy Limited (Synergia or the Company) announces the following update regarding its Cambay PSC (WI 50%) in India.

Planned Cambay C-79 new well update

Synergia and its Cambay PSC joint venture partner, Antelopus Selan Energy Limited (“ASEL”) have been engaged in detailed technical discussions concerning the planned new C-79 Cambay well. Synergia and ASEL are in broad agreement regarding the Eocene well target, well program and fracking program.

As per the RNS dated 01 October 2026, wherein ASEL previously indicated an estimated spud date of late November 2026, ASEL have recently indicated that no firm date exists for the mobilisation of the DEEP Industries drilling unit which is currently assigned to ONGC in Assam and that ASEL’s current estimate for the C-79 spud date is now February / March 2027.

The Company will provide an update on the timing of the C-79 well as soon as more information is provided by the Operator, ASEL. 

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

For further information, please contact:

Investor Enquiries

Synergia Energy Ltd

Briana Stayt

Investor Relations

Email: 

bstayt@synergiaenergy.com

Tel: +61 8 9485 3200

Australia

Nominated Advisor and Joint Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Devik Mehta

Tel: +44 (0)20 3470 0470

UK

Joint Broker

AlbR Capital Limited

Colin Rowbury

Email: 

cr@albrcapital.com

Tel: +44 20 7469 0930

UK

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