TPI provides its latest research note on Zephyr Energy plc (ZPHR.L)

After two weeks of flow testing on highly restricted chokes, the State 16-2LN-CC well is demonstrating highly encouraging average daily facility-constrained hydrocarbon flow rates of 420 boepd with hourly peaks in excess of 690 boepd when chokes are reduced slightly.

With further results to be determined as completion fluid continues to be recovered and facility constraints are addressed, indications are that State 16-2LN-CC is a highly successful and commercial ‘proof of concept’ well in the Cane Creek reservoir.

These quantifiable results also imply that a strategy of hydraulic stimulation completions across both the Cane Creek and overlying reservoirs identified in this area of the Paradox Basin are looking increasingly compelling across Zephyr’s 37,000 acre licence area.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Zephyr Energy plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.


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