Synergia Energy Ltd Medway Hub Camelot CCS Farm Out

RNS Number : 9286P

Synergia Energy Ltd

28 May 2024

 

RNS Announcement

 

28 May 2024

 

AIM: SYN

Medway Hub Camelot CCS Farm Out

 

Synergia Energy Limited ("Synergia" or the "Company") announces the commencement of a farm out process concerning its Medway Hub Camelot CCS project in the UK.

Synergia and its partner, Wintershall Dea ("WD"), each hold a 50% interest in the CS019 Camelot carbon storage licence, with Synergia as designated operator. The Camelot licence, located in the UK Southern North Sea, is currently projected to be able to store between 70 and 100 million tonnes of CO₂.

Following expressions of interest from a number of parties, Synergia has decided to offer up to half of its 50% interest in the CS019 licence under a farm out arrangement, subject to necessary regulatory approvals, with Synergia remaining as designated operator.

Further updates on the farm out process will be provided as and when appropriate.

 

For and on behalf of Synergia Energy Limited

 

Roland Wessel

CEO

For further information, please contact:

 

Investor Enquires Synergia Energy Ltd Briana Stayt Investor Relations Email:  [e-mail] Tel: [phone] Australia

AIM Joint Broker Panmure Gordon (UK) Ltd Broker Mark Murphy / Hugh Rich / Freddie Wooding Tel: [phone] UK

AIM Joint Broker Novum Securities Broker Colin Rowbury Email:  [e-mail] Tel: [phone] UK

AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Ritchie Balmer / Rory Murphy Tel: [phone] UK

Media Enquires (UK) Vigo Consulting Investor Relations Patrick d'Ancona / Finlay Thomson Email: [e-mail] [e-mail] Tel:+ 44 20 7390 0230 UK

 

 

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