Synergia Energy

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AU0000233538

Market Closed - London S.E. Other stock markets 11:35:27 2024-07-05 am EDT			5-day change	1st Jan Change
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Jun. 12	Synergia Energy secures more funding from Indian government	AN
May. 28	Synergia starts farm out process of UK carbon storage centre	AN

Synergia Energy secures more funding from Indian government

June 12, 2024 at 02:08 pm EDT

Synergia Energy Ltd - West Perth, Australia-based oil and gas company - Agrees to a further short-term loan with Indian Government while it awaits the sale of 50% of its Cambay production sharing contract to Selan Exploration Technology Ltd. Synergia will receive USD2.5 million from Selan pending expected government approval. Also obtains further funding of GBP400,000 from investors in order to minimise equity dilution. Loan funding to be repaid following Cambay sale.

Current share price: 0.11 pence

12-month change: down 12%

By Aidan Lane, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Synergia Energy

Synergia Energy secures more funding from Indian government	Jun. 12	AN
Synergia starts farm out process of UK carbon storage centre	May. 28	AN
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Synergia Energy Ltd Reports Earnings Results for the Half Year Ended December 31, 2023	Mar. 13	CI
Synergia converts loan notes; confirms no equity finance	Mar. 11	AN
Synergia Energy agrees farm-out deal for Cambay Field	Feb. 14	AN
Synergia Energy Limited Announces Finalization of Cambay Field Farm Out and Joint Venture with Selan Exploration Technology Limited	Feb. 14	CI
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Synergia Energy shares up on "ambitious" work programme with partner	Jan. 22	AN
Synergia pens head of terms deal for Cambay field farm-out project	Dec. 18	AN
Synergia raises GBP1 million as sizes up Cambay farm-out agreement	Dec. 05	AN
Synergia Energy says gas rates have plateaued at C-77H well in Gujarat	Nov. 03	AN
Synergia Energy Ltd Provides Cambay C-77H Artificial Lift Update	Nov. 03	CI
Synergia Energy shares jump on progress at C-77H well	23-09-25	AN
Synergia annual loss widens but hails "very positive" outlook	23-09-21	AN
Synergia Energy Ltd Reports Earnings Results for the Full Year Ended June 30, 2023	23-09-21	CI
Synergia Energy Ltd Announces Change of Company Secretary	23-09-08	CI
Synergia Energy reports stabilised gas output at Cambay C-77H well	23-08-23	AN
Synergia Energy Limited Provides Update Concerning the Cambay C-77H Well Workover	23-08-23	CI
Synergia Energy says Cambay C-77H workover proceeding as expected	23-07-26	AN
Synergia Energy plans placing to fund Cambay well workover	23-07-25	AN
Synergia Energy to start workover rig for Cambay well	23-07-04	AN

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Company Profile

Synergia Energy Ltd is an Australia-based company focused on gas production. The Company is primarily involved in the exploration, evaluation, development, and production of hydrocarbons. It identifies natural gas assets with development potential and develops gas production from proven gas fields or exploration assets in proven gas producing basins. It is also focused on carbon-neutral gas production. Its operation in India is located in the Cambay Basin, covering approximately 161 square kilometers in Gujarat State. The Company's Medway Hub Carbon Capture and Storage (CCS) project provides for the capture and transportation of carbon dioxide (CO2) emissions from coastal combined cycle gas turbines (CCGT) power stations in liquid form by marine tanker to a Floating Injection, Storage and Offloading vessel (FISO) from which the CO2 would be injected into depleted gas fields, which are situated in the in the United Kingdom Continental Shelf (UKCS), for permanent sequestration.

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