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Oilex Ltd ( (GB:SYN) ) just unveiled an update.
Synergia Energy Ltd has provided an update on its Cambay PSC operations in India. The company has completed workover operations on several wells, with the Cambay C-64 well producing an average of 30 bopd and preparations underway for the C-74 well to commence production. Drilling operations at the C-78 well have reached total depth, and the well is currently being logged. These developments indicate ongoing efforts to enhance production and operational efficiency, potentially impacting the company’s market position and stakeholder interests.
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 oil and gas industry, focusing on exploration and production. The company is involved in onshore operations in India, specifically through its Cambay PSC, where it holds a 50% working interest.
Average Trading Volume: 33,090,369
Technical Sentiment Signal: Sell
Current Market Cap: £3.11M
Learn more about SYN stock on TipRanks’ Stock Analysis page.