Oilex Ltd (GB:SYN) has released an update.
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Synergia Energy Ltd has received approval from the Government of India for a 50% working interest transfer in the Cambay Field Production Sharing Contract to Selan Exploration Technology Limited, effective 19 July 2024. This move finalizes the farm-out agreement and initiates a US$20 million development program including drilling of new wells and work-over operations. Synergia’s CEO expresses optimism for the early start of these operations to tap into the substantial reserves of the Cambay field.
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