Synergia Energy Ltd. (OIEXF)

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https://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/03/26/cambay-73---construction-of-oil-and-gas-production-facilities

Cambay-73 - Construction of Oil and Gas Production Facilities
Oilex Ltd is pleased to provide an update on construction of the oil and gas production facilities at Cambay-73.

C73_ReleaseOverall progress of the project is 77% complete. The electrical system installation is almost complete while mechanical fabrication is 82% complete. Various pre-commissioning activities should commence next week and costs are forecast to be within budget despite some delays in equipment delivery. Connection of the low pressure gas pipeline system to the plant is the responsibility of the gas buyer and is expected to be completed during April 2015.

Cambay-73 is a frac’d vertical well located 1.2km SSE of Cambay-77H, the first multistage frac’d horizontal well to be successfully production tested in the Cambay Basin. Cambay-73 and Cambay-77H have intersected the same Y zone reservoir and both have produced gas and light oil/condensate. Gas composition analyses conclude that gas from Cambay-77H and Cambay-73 is almost identical with minimal processing required to reach pipeline specification. Cambay-73 will supply gas to a low pressure gas market in the vicinity of the Cambay Field and is expected to produce approximately 50-60boepd of gas and condensate. The condensate will be separated at the field and trucked to a nearby refinery together with other Cambay crude oil.

Managing Director of Oilex, Ron Miller, said;
“Oilex is very pleased with construction progress at Cambay-73 which should enable the Joint Venture to commence production during May 2015. This will be the first gas produced and sold from the Y zone formation within the Cambay Contract Area and it will be the first gas sold from the Cambay Field in over 23 years. Commercial production from Cambay-73 is a key initial step to achieving the Company’s objective of becoming cash flow positive from operations in India in H2 2015.”