REG - Synergia Energy Ltd - Update on GOI Approval, Working Interest Transfer

Synergia EnergyAnnouncement

07/05/2024 07:15

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RNS Number : 2577N  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           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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