Synergia Energy Ltd NPV (SYN)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.11p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.18p
  • 52 Week Low: 0.073p
  • Currency: UK Pounds
  • Shares Issued: 10,638m
  • Volume: 48,971,798
  • Market Cap: £11.97m

Oilex deal with Doriemus falls through

By Josh White

Date: Tuesday 28 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Oilex told shareholders on Tuesday that an agreement with Doriemus to reach an alternative agreement over the proposed purchase of Oilex's interests in the Cooper Basin by Doriemus has not been reached.
The AIM-traded firm said it is in discussion with a number of companies showing a "strong interest" in stepping into the Cooper-Eromanga project, and participating in moving the asset base forwards.

On 29 January, the company announced that it had signed a binding heads of agreement with ASX-listed Doriemus for the proposed sale of all of its interests in the Cooper-Eromanga Basin to Doriemus, including the Northern Fairway PRLs.

Following that, on 24 March, it said that despite strong funding support, certain investors had failed to settle their committed funds given the changed global market challenges, with Doriemus announcing that it would not be proceeding with the capital raising.

The update advised that the parties were continuing discussions on a revised transaction structure.

On 3 April, Oilex announced an extension to the date for satisfaction on conditions precedent in regards to the acquisition of 27 petroleum retention licences (PRLs) from Senex Energy, and certain of its related entities, to 27 September.

"While we did not find a path to go forwards with Doriemus, we see strong support from other interested companies and are currently in discussions with a number of entities to potentially move the projects forward in the best interests of all stakeholders and we remain ready to proceed with a new party under similar terms to the Doriemus deal," said managing director Joel Salomon.

At 1614 BST, shares in Oilex were up 7.37% at 0.1p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

SYN Market Data

Currency UK Pounds
Share Price 0.11p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.18p
52 Week Low 0.073p
Volume 48,971,798
Shares Issued 10,638m
Market Cap £11.97m

SYN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
30.82% above the market average30.82% above the market average30.82% above the market average30.82% above the market average30.82% above the market average
81.33% below the sector average81.33% below the sector average81.33% below the sector average81.33% below the sector average81.33% below the sector average
Price Trend
80.08% below the market average80.08% below the market average80.08% below the market average80.08% below the market average80.08% below the market average
30.00% above the sector average30.00% above the sector average30.00% above the sector average30.00% above the sector average30.00% above the sector average
Income Not Available
Growth
5.86% below the market average5.86% below the market average5.86% below the market average5.86% below the market average5.86% below the market average
34.62% above the sector average34.62% above the sector average34.62% above the sector average34.62% above the sector average34.62% above the sector average

SYN Dividends

No dividends found

Trades for 17-May-2024

Time Volume / Share Price
16:24 509,999 @ 0.11p
16:24 4,677,912 @ 0.11p
16:20 1,744,764 @ 0.11p
16:20 3,474,791 @ 0.12p
16:19 3,474,791 @ 0.12p

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