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Oilex Ltd ( (GB:SYN) ) has shared an update.
Synergia Energy Ltd has successfully commenced its workover program in the Cambay PSC in India, with the C-70 well showing promising results as a gas producer. The initial production from C-70 has more than doubled the gas output from the Cambay field, positively impacting the company’s cash flow. This development is part of a $20 million program carried by Selan Exploration. Additionally, crude oil production has also seen an increase. These advancements are expected to strengthen Synergia’s operational performance and market positioning.
More about Oilex Ltd
Synergia Energy Ltd operates in the energy sector, focusing on oil and gas exploration and production. The company is engaged in developing its assets, such as the Cambay field in India, to enhance its production capabilities and market presence.
YTD Price Performance: -30.0%
Average Trading Volume: 52,685,817
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £6.41M
For a thorough assessment of SYN stock, go to TipRanks’ Stock Analysis page.
