Synergia Energy Ltd (LSE:SYN) has received an initial payment of $0.5 million from Selan Exploration Technology Limited as part of the ongoing sale of its 50% working interest in the Cambay Production Sharing Contract (PSC) in India. The completion of the Sale and Purchase Agreement is underway. Meanwhile, operations to work over the C-64 well have been postponed due to monsoon-related delays, affecting the schedule for installing a sucker rod pump.
The company’s outlook remains challenged by financial difficulties, which continue to present risks. However, the low price-to-earnings ratio may indicate some undervaluation. Key corporate developments, such as this asset sale, offer potential positive momentum. Technical indicators remain mixed, contributing to an uncertain near-term picture.
About Synergia Energy Ltd
Synergia Energy Ltd is an oil and gas exploration and production company active primarily in India. It holds a 50% working interest in the Cambay PSC, focusing on maximizing resource extraction from onshore fields.
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