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Oilex Ltd ( (GB:SYN) ) has shared an update.
Synergia Energy Ltd has announced the receipt of an initial payment of US$ 0.5 million from Selan Exploration Technology Limited as part of the sale of its 50% working interest in the Cambay PSC in India. The completion of a Sale and Purchase Agreement is in progress. Meanwhile, the workover operation on the C-64 well has been delayed due to monsoon rains, impacting the timeline for the installation of a sucker rod pump.
Spark’s Take on GB:SYN Stock
According to Spark, TipRanks’ AI Analyst, GB:SYN is a Neutral.
The overall stock score is driven by the company’s financial struggles, which pose significant risks. However, the low P/E ratio suggests potential undervaluation. Positive corporate events, including the strategic sale of assets, provide a potential upside. Mixed technical indicators add to the uncertainty.
To see Spark’s full report on GB:SYN stock, click here.
More about Oilex Ltd
Synergia Energy Ltd operates in the energy sector, focusing on oil and gas exploration and production. The company is involved in the Cambay Production Sharing Contract (PSC) in onshore India, holding a 50% working interest.
Average Trading Volume: 143,178,328
Technical Sentiment Signal: Sell
Current Market Cap: £3.27M
For detailed information about SYN stock, go to TipRanks’ Stock Analysis page.