Synergia Energy Ltd (LSE:SYN) announced new operational developments at its Cambay Production Sharing Contract (PSC) project in onshore India, where it holds a 50% working interest. The company confirmed that workover operations at the C-64 wellsite are nearing completion, while mobilization of the drilling rig to the C-54 wellsite is currently underway.
These activities mark an important step in Synergia’s efforts to enhance production efficiency and strengthen its position within India’s energy landscape. Management said the operational momentum reflects the company’s focus on executing its development plan to unlock further value from the Cambay asset.
Despite the operational progress, Synergia continues to face financial and valuation challenges that weigh on its outlook. Analysts noted that while the company’s low price-to-earnings (P/E) ratio points to potential undervaluation, ongoing financial constraints and mixed technical signals introduce uncertainty. However, recent strategic initiatives, including selective asset sales, could offer upside potential if successfully executed.
More about Synergia Energy Ltd
Synergia Energy Ltd is an energy exploration and production company focused on oil and gas development. Its flagship asset is the Cambay PSC in Gujarat, India, where it aims to optimize recovery and production through targeted drilling and workover programs. The company remains committed to sustainable operations and value creation through strategic asset management.
Leave a Reply