Synergia Energy Ltd (the "Company") (formerly named Oilex Ltd) is pleased to announce the following update with respect to its operations in India. Subsequent to the fraccing of two zones, the C77H well is currently being cleaned up with the frac fluid being removed while gas is flowing at a rate of c. 0.5 MMSCFD through a 16/64" choke. Approximately 10% of the frac fluid has been flowed back and we do not anticipate representative gas flow rates until the majority of the frac fluid has been removed.
Synergia Energy's Chief Executive Officer, Roland Wessel, commented:
"The fraccing of the two new zones in the C-77H well has been executed efficiently and the initial indications are that the fraccing has been effective. The sustainable gas flow rates and long-term decline rates will not be known until the well has been cleaned up and flow rates stabilise. This may take 10-20 days."
This announcement has been authorised for release by the board of Synergia Energy Limited.
