REG - Zephyr Energy PLC - AGM Statement and Acquisition Update

Zephyr EnergyAnnouncement

Wed 07:02

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RNS Number : 0935T  Zephyr Energy PLC  30 July 2025

 

30 July 2025

Zephyr Energy plc

("Zephyr" or the "Company")

 

 AGM Statement

and

Acquisition Update

 

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), will hold its Annual General
Meeting ("AGM") at 11.00 a.m. today, at the offices of Haynes and Boone CDG
LLP, 1 New Fetter Lane, London, EC4A 1AN.

 

At the AGM, Rick Grant, Zephyr's Non-Executive Chairman, will make the
following statement:

 

"Over the 2024 financial year, and in the period since, we have continued to
deliver solid operational progress across both our operated and non-operated
portfolios.

 

"On our project in the Paradox Basin, Utah, U.S. (the "Paradox project"), we
are at a pivotal stage. Following our successful recent drilling operation and
production test, we've been able to advance the design, engineering and
negotiations work needed to enable access to gas export markets through the
nearby third-party pipeline. An updated Competent Person's Report is underway,
and we expect to publish results by the end of September 2025. We are also
progressing discussions with potential industry and finance partners as part
of a structured asset level funding process in order to accelerate drilling
activity at the Paradox project.

"Alongside this, our non-operated portfolio in the Williston Basin, U.S.,
continues to provide meaningful cash flow to support operations and growth,
and closing our proposed acquisition will add additional reserves, production
and scale across key Rocky Mountain basins.

 

"We have strong momentum, a clear strategy, and the right resources in place
to successfully deliver additional progress in the period ahead. We look
forward to a prolonged period of positive news flow as we complete the
proposed acquisition and move towards first production at the Paradox
project."

 

Proposed Acquisition update

 

Further to its announcement on 17 July 2025, Zephyr is finalising all
remaining documentation ahead of its proposed US$7.3 million acquisition of
working interests in accretive, mature PDP (proved developed producing)
production assets in core Rocky Mountain basins, U.S. (the "Proposed
Acquisition").

 

In preparation for the completion of the Proposed Acquisition, Zephyr has
applied for regulatory approval to become an operator of record in the states
of Colorado, Wyoming and North Dakota.  The Proposed Acquisition remains
on track to complete in the near-term, with an effective date of 1 June 2025.

 

Contacts:

 

 Zephyr Energy plc                                              Tel: +44 (0)20 7225 4590

 Colin Harrington (CEO)

 Chris Eadie (Group Finance Director and Company Secretary)

 Allenby Capital Limited - AIM Nominated Adviser                Tel: +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj

 Turner Pope Investments - Joint Broker                         Tel: +44 (0)20 3657 0050

 James Pope / Andy Thacker

 Canaccord Genuity Limited - Joint Broker                      Tel: +44 (0)20 7523 8000

 Henry Fitzgerald-O'Connor / Charlie Hammond

 Celicourt Communications - PR

 Mark Antelme / Ali AlQahtani                                  Tel: +44 (0) 20 7770 6424

 

Notes to Editors

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and
gas company focused on responsible resource development in the Rocky
Mountain region of the United States.  The Company's mission is rooted in
two core values: to be responsible stewards of its investors' capital, and to
be responsible stewards of the environment in which it works.

 

Zephyr's flagship asset is an operated 46,000-acre leaseholding located in
the Paradox Basin.

 

In addition to its operated assets, the Company owns working interests in a
broad portfolio of non-operated producing wells across the Williston
Basin in North Dakota and Montana. Cash flow from
the Williston production will be used to fund the planned Paradox
Basin development. In addition, the Board will consider further opportunistic
value-accretive acquisitions.

 

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