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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Synergia Energy Ltd | LSE:SYN | London | Ordinary Share | AU0000233538 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1125 | 0.11 | 0.115 | 0.1125 | 0.11 | 0.1125 | 27,605,375 | 16:12:32 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 1.3M | -5.38M | -0.0006 | -1.83 | 9.26M |
TIDMOEX
RNS Number : 5011I
Oilex Ltd
26 March 2015
26 March 2015
ASX: OEX
AIM: OEX
Cambay-73 - construction of oil and gas production facilities
Oilex Ltd is pleased to provide an update on construction of the oil and gas production facilities at Cambay-73.
Overall progress of the project is 77% complete. The electrical system installation is almost complete while mechanical fabrication is 82% complete. Various pre-commissioning activities should commence next week and costs are forecast to be within budget despite some delays in equipment delivery. Connection of the low pressure gas pipeline system to the plant is the responsibility of the gas buyer and is expected to be completed during April 2015.
Cambay-73 is a frac'd vertical well located 1.2km SSE of Cambay-77H, the first multistage frac'd horizontal well to be successfully production tested in the Cambay Basin. Cambay-73 and Cambay-77H have intersected the same Y zone reservoir and both have produced gas and light oil/condensate. Gas composition analyses conclude that gas from Cambay-77H and Cambay-73 is almost identical with minimal processing required to reach pipeline specification. Cambay-73 will supply gas to a low pressure gas market in the vicinity of the Cambay Field and is expected to produce approximately 50-60boepd of gas and condensate. The condensate will be separated at the field and trucked to a nearby refinery together with other Cambay crude oil.
Managing Director of Oilex, Ron Miller, said;
"Oilex is very pleased with construction progress at Cambay-73 which should enable the Joint Venture to commence production during May 2015. This will be the first gas produced and sold from the Y zone formation within the Cambay Contract Area and it will be the first gas sold from the Cambay Field in over 23 years. Commercial production from Cambay-73 is a key initial step to achieving the Company's objective of becoming cash flow positive from operations in India in H2 2015."
http://www.rns-pdf.londonstockexchange.com/rns/5011I_-2015-3-26.pdf
For and on behalf of Oilex Ltd
Ron Miller
Managing Director
For further information, please contact:
Oilex Ltd Westhouse Securities Strand Hanson Tavistock Communications Ron Miller, Limited Limited Ed Portman Managing Director AIM Broker Nominated Adviser Email: Email: oilex@oilex.com.au Robert Finlay / Alastair Rory Murphy / eportman@tavistock.co.uk Tel: +61 8 9485 Stratton Ritchie Balmer Tel: +44 20 7920 3200 Email: Email: 3150 Australia Alastair.stratton@westhousese oilex@strandhanson.co.uk UK curities.com Tel: +44 20 7409 Tel: +44 20 7601 3494 6100 UK UK
[INSERT PDF HERE]
Qualified Petroleum Reserves and Resources Evaluator statement
Pursuant to the requirements of Chapter 5 of the ASX Listing Rules, the information in this report relating to petroleum reserves and resources is based on and fairly represents information and supporting documentation prepared by or under the supervision of Mr. Peter Bekkers, Chief Geoscientist employed by Oilex Ltd. Mr. Bekkers has over 17 years experience in petroleum geology and is a member of the Society of Petroleum Engineers and AAPG. Mr. Bekkers meets the requirements of a qualified petroleum reserve and resource evaluator under Chapter 5 of the ASX Listing Rules and consents to the inclusion of this information in this report in the form and context in which it appears. Mr. Bekkers also meets the requirements of a qualified person under the AIM Note for Mining, Oil and Gas Companies and consents to the inclusion of this information in this report in the form and context in which it appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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