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

Zephyr this morning has provided an update on its project in the Paradox Basin, Utah, USA, where it is now preparing to spud the ‘dual-use’ State 16-2 well (the ‘Project’) before the end of this year.

Having completed a detailed initial well design back in October and undertaken a tender process for the related contracts, the Group is commencing remediation work on the Project’s well pad and access road.

This work is expected to take less than five days and is expected to finish well ahead of the scheduled rig mobilisation in early December. More importantly, this marks an important development landmark, as on-ground operational activities have officially begun. The coming weeks are expected to be a period of high activity for Zephyr as it seeks to deliver on this key drilling milestone.

Launch Presentation

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 © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.

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