Legal9 Feb 2026, 09:38 pm
Antelopus Clarifies Synergia Energy's Cambay PSC Transaction Announcement
AI Summary
Antelopus Selan Energy Limited has issued a clarification regarding the announcement made by Synergia Energy Limited on 9 February 2026 concerning the proposed transaction between Antelopus Selan Energy Limited and Synergia Energy relating to the Cambay PSC. Antelopus has clarified several points including the execution of Heads of Terms, the status of the Share Purchase Agreement, the need for majority shareholder approval, and the bank guarantee. The company has also reserved its rights vis-a-vis Synergia under the Joint Operating Agreement dated 31° July 2024.
Key Highlights
- The Heads of Terms for the Transaction was executed on 4th July 2025, which granted a 6-month exclusivity period to Antelopus until 8 February 2026.
- No definitive Sale and Purchase Agreement (SPA) has been effected between the Parties. The agreed form of an SPA has been initialed by the parties, and execution was subject to each party fulfilling certain actions on the signing date.
- Antelopus is required to obtain its majority shareholder approval for the Transaction, and the company is governed by an independent board of directors.
- Antelopus has not refused to provide a bank guarantee or failed to meet any agreed financial commitment as no binding SPA has been executed.
- Antelopus has reserved all its rights vis-a-vis Synergia under the Joint Operating Agreement dated 31° July 2024.