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

Zephyr has this morning confirmed that its project acreage in the Paradox Basin, Utah, USA (the ‘Paradox’), has been selected for a vertical stratigraphic test well funded by the US Department of Energy and its National Energy Technology Laboratory (‘USDoE’).

Available through an existing grant awarded to the University of Utah’s Energy & Geoscience Institute (‘EGI’) in collaboration with the Utah Geological Survey (the ‘UGS’), this development could result in the first well spudded on the Group’s Paradox acreage before the end of calendar 2020.

In addition to progressing this asset, Zephyr’s Board also continues to evaluate production/development opportunities in the prolific Denver-Julesburg Basin, which it considers presents ‘multiple attractive’ investment opportunities that could potentially be added to the Group’s portfolio. Zephyr’s management looks forward to updating investors on both fronts in the near-term.

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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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