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Synergia Energy Limited announced on 28 May 2024 the commencement of a farm out process for its Medway Hub Camelot CCS project. Synergia and Wintershall Dea each hold a 50% interest in the CS019 Camelot carbon storage licence, with Synergia as designated operator. Synergia decided to offer up to half of its 50% interest in the licence, which is projected to store between 70 and 100 million tonnes of CO2.
| Date | 28 May 2024 |
| Time | 07:00:14 |
| Category | Corporate updates |
| ID | 9286P |
RNS Announcement
28 May 2024
AIM: SYN
Medway Hub Camelot CCS Farm Out
Synergia Energy Limited ("Synergia" or the "Company") announces the commencement of a farm out process concerning its Medway Hub Camelot CCS project in the UK.
Synergia and its partner, Wintershall Dea ("WD"), each hold a 50% interest in the CS019 Camelot carbon storage licence, with Synergia as designated operator. The Camelot licence, located in the UK Southern North Sea, is currently projected to be able to store between 70 and 100 million tonnes of CO2.
Following expressions of interest from a number of parties, Synergia has decided to offer up to half of its 50% interest in the CS019 licence under a farm out arrangement, subject to necessary regulatory approvals, with Synergia remaining as designated operator.
Further updates on the farm out process will be provided as and when appropriate.
For and on behalf of Synergia Energy Limited
Roland Wessel
CEO
For further information, please contact:
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Investor Enquires Synergia Energy Ltd Briana Stayt Investor Relations Email: Tel: +61 8 9485 3200 Australia |
AIM Joint Broker Panmure Gordon (UK) Ltd Broker Mark Murphy / Hugh Rich / Freddie Wooding Tel: +44 (0)20 7886 2500 UK |
AIM Joint Broker Novum Securities Broker Colin Rowbury Email: Tel: +44 20 7399 9427 UK |
AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Ritchie Balmer / Rory Murphy Tel: +44 20 7409 3494 UK |
Media Enquires (UK) Vigo Consulting Investor Relations Patrick d'Ancona / Finlay Thomson Email: Tel:+ 44 20 7390 0230 UK |