REG - Synergia Energy Ltd - Medway Hub Camelot CCS Farm Out

Synergia EnergyAnnouncement

28/05/2024 07:00

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RNS Number : 9286P  Synergia Energy Ltd  28 May 2024

RNS Announcement

 

28 May 2024

 

AIM: SYN

Medway Hub Camelot CCS Farm Out

 

Synergia Energy Limited ("Synergia" or the "Company") announces the
commencement of a farm out process concerning its Medway Hub Camelot CCS
project in the UK.

Synergia and its partner, Wintershall Dea ("WD"), each hold a 50% interest in
the CS019 Camelot carbon storage licence, with Synergia as designated
operator. The Camelot licence, located in the UK Southern North Sea, is
currently projected to be able to store between 70 and 100 million tonnes of
CO(2).

Following expressions of interest from a number of parties, Synergia has
decided to offer up to half of its 50% interest in the CS019 licence under a
farm out arrangement, subject to necessary regulatory approvals, with Synergia
remaining as designated operator.

Further updates on the farm out process will be provided as and when
appropriate.

 

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 Adviser          Media Enquires (UK)

 Synergia Energy Ltd         Panmure Gordon (UK) Ltd                     Novum Securities               Strand Hanson Limited          Vigo Consulting

 Briana Stayt                Broker                                      Broker                         Nominated Adviser              Investor Relations

 Investor Relations          Mark Murphy / Hugh Rich / Freddie Wooding   Colin Rowbury                  Ritchie Balmer / Rory Murphy   Patrick d'Ancona / Finlay Thomson

 Email:                      Tel: +44 (0)20 7886 2500                    Email:                         Tel: +44 20 7409 3494          Email:

 bstayt@synergiaenergy.com   UK                                          crowbury@novumsecurities.com   UK                             patrick.dancona@vigoconsulting.com

 Tel: +61 8 9485 3200                                                    Tel: +44 20 7399 9427                                         finlay.thomson@vigoconsulting.com

 Australia                                                               UK                                                            Tel:+ 44 20 7390 0230

                                                                                                                                       UK

 

 

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