ASX-RNS Announcement

8 August 2022

ASX: SYN / AIM: SYN

Synergia Energy Ltd (the "Company") (formerly named Oilex Ltd) is pleased to announce the following update with respect to its operations in India.

C-77H Re-frac Operations Update

The C-77H well on the onshore Cambay gasfield (100% Synergia) has been tied-in to the C-73 production facility in order to facilitate the sale of the produced gas to the grid. The well is still flowing back the frac fluid with approximately 50% of the expected flow back having been removed. The gas production rate is up to 0.5 mmscfd but the sustainable gas rate will not be known until substantially most of the frac fluid has been removed.

Initial indications are that the revised fraccing methodology employed on the C-77H re-frac operation has been effective and could underpin a full field development, subject to funding, once the decline rates have been determined to be satisfactory.

Planning is underway to re-install the production tubing for long term production operations.

This announcement has been authorised for release by the board of Synergia Energy Limited.

For and on behalf of Synergia Energy Ltd

Roland Wessel

CEO

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