REG - Zephyr Energy PLC - Paradox project update

Zephyr EnergyAnnouncement

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RNS Number : 7918G  Zephyr Energy PLC  30 April 2025

30 April 2025

Zephyr Energy plc

("Zephyr" or the "Company")

Paradox project update

 

Further to its announcement on 8 April 2025, Zephyr Energy plc (AIM: ZPHR)
(OTCQB: ZPHRF) is pleased to announce that the ongoing production test (the
"test") on the State 36-2 LNW-CC-R well (the "well"), at its project in the
Paradox Basin, Utah, U.S., is expected to conclude in the coming days with
initial test results available shortly thereafter.

 

While the commencement of the test was slightly delayed due to minor
operational and equipment availability issues, testing operations are
currently progressing as planned and the Company looks forward to providing
further updates in the coming days.

Production test in progress at the well

 

 

 

 

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 / Felicity Winkles / 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 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 46,000-acre leaseholding located in
the Paradox Basin, Utah, 25,000 acres of which has been assessed to hold,
net to Zephyr, 2P reserves of 2.6 million barrels of oil equivalent ("mmboe"),
2C resources of 34 mmboe and 2U resources 270 mmboe.

 

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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