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Oilex Ltd ( (GB:SYN) ) has issued an announcement.
Synergia Energy Ltd announced that its joint venture partner, Selan Exploration, has secured a drilling rig and services for the Cambay PSC project in India. The drilling of the first of three new wells is set to begin in September 2025, with workover operations on existing wells resuming in June 2025. This development is part of a $20 million work program, with Synergia being fully carried by Selan, which may enhance production capabilities and strengthen Synergia’s position in the Indian energy market.
Spark’s Take on GB:SYN Stock
According to Spark, TipRanks’ AI Analyst, GB:SYN is a Underperform.
Synergia Energy Ltd’s overall score reflects significant financial struggles, with declining revenues and negative cash flows weighing heavily. Technical analysis indicates bearish momentum, but the stock’s low P/E ratio suggests potential undervaluation if performance turns around. Positive corporate events could bolster future growth, but the current financial situation poses substantial risks.
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 PSC project in India, where it holds a 50% working interest.
Average Trading Volume: 37,844,126
Technical Sentiment Signal: Sell
Current Market Cap: £2.73M
Learn more about SYN stock on TipRanks’ Stock Analysis page.