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

Since the detailed analysis of the data gathered from the ‘dual use’ stratigraphic test well, State 16-2, located on Zephyr’s flagship project in the Paradox Basin in Utah, Zephyr has confirmed that the proposed State 16-2LN-CC lateral well is located in a suitable location from which to test the natural fracture play (NFP) in the Cane Creek reservoir.

As such, rig mobilisation is now underway with drilling operations and subsequent testing scheduled thereafter. Once on-site in the coming days, the equipment will be rigged up over a period of a week in preparation for drilling, and Zephyr remains on track to spud the well before the end of July. Drilling is expected to take approximately 20 days following spud. Further updates will be provided in due course.

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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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