REG - Zephyr Energy PLC - Appointment of Panmure Gordon as Joint Broker

Zephyr EnergyAnnouncement

15/08/2022 07:00

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RNS Number : 9391V  Zephyr Energy PLC  15 August 2022

 

 

15 August 2022

Zephyr Energy plc

("Zephyr" or the "Company")

 

Appointment of Panmure Gordon as Joint Broker

 

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain oil and gas
company focused on responsible resource development from carbon-neutral
operations, is pleased to announce that it has appointed Panmure Gordon (UK)
Limited as its Joint Broker with immediate effect.

 

Colin Harrington, Chief Executive of Zephyr, said:  "We welcome the
appointment of Panmure Gordon, which both reflects our successes to date and
our ambition for continued growth in shareholder value.

 

"Panmure Gordon is a market-leading broker with strong research and
institutional sales capabilities.  They have a long track record supporting
ambitious companies in the energy sector and will be an excellent addition to
our adviser team alongside Turner Pope Investments, our existing Joint
Broker."

 

Contacts:

 

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

 Colin Harrington (CEO)

 Chris Eadie (CFO)

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

 Jeremy Porter / Liz Kirchner / Vivek Bhardwaj

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

 James Pope / Andy Thacker

 Panmure Gordon (UK) Limited - Joint-Broker                         Tel: +44 (0) 20 7886 2500

 John Prior / Hugh Rich / James Sinclair-Ford / Harriette Johnson

 Celicourt Communications - PR

 Mark Antelme / Felicity Winkles                                    Tel: +44 (0) 20 8434 2643

 

 

 

 

 

 

 

Notes to Editors

 

Zephyr Energy

 

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and gas
company focused on responsible resource development from carbon-neutral
operations 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 37,613-acre leaseholding located in the
Paradox Basin, Utah which has been assessed by third party consultants Sproule
International to hold, net to Zephyr, 2P reserves of 2.1 million barrels of
oil equivalent ("mmboe"), 2C resources of 27 mmboe and 2U resources 203 mmboe.
Following the successful initial production testing of the recently drilled
and completed State 16-2LN-CC well, Zephyr is planning a three well drilling
program commencing later this year to further delineate the scale and value of
the project.

 

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.  The Williston portfolio currently consists of
working-interests in over 200 modern horizontal wells which are expected to
provide US$35-40 million of revenue, net to Zephyr, in 2022.  Cash flow from
the Williston production will be used to fund the planned Paradox Basin
development. In addition, the Board will also consider further opportunistic
value-accretive acquisitions.

 

 

 Panmure Gordon

 

Panmure Gordon is a UK based investment bank providing a full range of
services including Capital Raising, Corporate Advisory, Corporate Broking,
Investor Relations, Research, Sales and Execution with distribution to the UK,
Europe and the U.S.

 

 

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