Synergia Energy (AIM:SYN) shares looked to close positively after the India-focused oil and gas micro-cap junior said it had completed four legacy well workovers at the Cambay PSC, where it holds a 50% working interest.
In London, Synergia shares were up 9% heading into Wednesday's close at 0.012p.
Synergia, in today's earlier statement, noted that the C‑64 was worked over to remove sand and optimise the sucker rod pump and is currently operating on a reduced pump rate at c.30 bopd with a 50% water cut.
Whilst C‑72 was re‑perforated in the OSII formation, its SRP replaced, and is currently cleaning up brine kill fluid, while C‑08 has also completed workover and is cleaning up brine kill fluid. And, C‑19z has had an SRP installed, and a gas pipeline is being installed to tie its gas to the C‑73 facility, with initial production of c.11 bopd having fallen to 2-3 bopd as optimisation continues.
Separately, the company added that its C‑74 well continues to produce c.60 bopd and C‑77H is producing 0.08 mmscfd, with all production figures reported on a gross basis.
Selan and Synergia's technical teams are in detailed discussions on the planned C‑79 new well, which is targeted to intersect the oil leg of the Eocene reservoir.
