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

Ahead of its year-end target date, Zephyr has announced that it plans to spud the ‘dual-use’ State 16-2 well (‘the Project’).

Over the last week, the main Rig #34 contracted from Cyclone Drilling Inc. (‘Cyclone’) was mobilised to the well site where it was subsequently assembled and tested. In addition, all ancillary services and service providers required to support drilling operations are now on location.

Once spudding has been completed, follow-on drilling is expected to take between 30-40 days in order to acquire continuous core and electronic log data from Cane Creek reservoir, as well as a comprehensive log suite across other shallower reservoirs. Results from the analysis of this information might then be expected within the following three or so months.

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


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