REG - Zephyr Energy PLC - Statement Re Market Speculation

Zephyr EnergyAnnouncement

20/09/2023 07:00

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RNS Number : 9900M  Zephyr Energy PLC  20 September 2023

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information as stipulated under the
UK Market Abuse Regulation. With the publication of this announcement, this
information is now considered to be in the public domain.

20 September 2023

Zephyr Energy plc

("Zephyr" or the "Company")

Statement Re Market Speculation

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain oil and gas
company focused on responsible resource development from carbon-neutral
operations, notes the recent speculation that Dominion Energy Utah, LLC has
finalised the completion of its gas supply pipeline from the Northwest Gas
Pipeline system to the Green River area (the "pipeline"), that the pipeline
will be operational in the early part of the fourth quarter of 2023, and that
the pipeline will also be available to accept natural gas volumes from
third-party sources, slightly ahead of original timeframe estimates.

Zephyr can confirm that it has been informally notified that the pipeline will
be operational in the next thirty days and would be available to receive
Zephyr volumes in due course when Zephyr's own infrastructure and wells have
been completed and all necessary regulatory approvals and commercial
agreements have been completed.

The Company expects to be able to provide a detailed update on both the
pipeline status and progress on its Paradox Project as part of its interim
financial report for the six months ended 30 June 2023 that will be published
by 29 September 2023.

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 / 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

 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 lease holding of over 46,000 acres
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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