Oilex Ltd ( (GB:SYN) ) has provided an announcement.
Synergia Energy Ltd has announced a successful £750,000 equity capital raise through the issuance of 2.5 billion new shares. The proceeds will support the company’s operational costs and ongoing development in its Cambay field, with expectations of increased revenues. The fundraising involves contributions from existing and new institutional investors, including a substantial shareholder, Republic Investment Management, marking a significant step in strengthening the company’s financial position.
More about Oilex Ltd
Synergia Energy Ltd operates in the energy sector with a focus on gas and condensate production. The company is involved in the development and management of energy resources, particularly holding a 50% working interest in the Cambay gas and condensate field in India.
YTD Price Performance: -25.00%
Average Trading Volume: 29,860,467
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £4.77M
For a thorough assessment of SYN stock, go to TipRanks’ Stock Analysis page.