Zephyr Energy PLC (AIM: ZPHR, OTCQB: ZPHRF) chair Rick Grant has said he anticipates “a prolonged period of positive news flow” as the company advances its Utah assets and develops its wider production portfolio.
In a statement ahead of today’s AGM in London, Grant said the company had made “solid operational progress” across both its operated and non-operated assets over the 2024 financial year and since.
Highlighting its Paradox Basin project in Utah, he described it as being at “a pivotal stage”, following a successful drilling and production test.
“We’ve been able to advance the design, engineering, and negotiations needed to access gas export markets via a nearby third-party pipeline,” he explained.
Grant also confirmed that Zephyr is in talks with potential industry and financial partners to secure structured, asset-level funding — a move that would accelerate further drilling at Paradox.
He added: “We have strong momentum, a clear strategy, and the right resources in place. We look forward to a prolonged period of positive news flow as we complete the proposed acquisition and move towards first production at the Paradox project.”
Notes to Editors
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and gas company focused on responsible resource development in the Rocky Mountain region of the United States. The Company’s mission is rooted in two core values: to be responsible stewards of its investors’ capital, and to be responsible stewards of the environment in which it works.
Zephyr’s flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin.
In addition to its operated assets, the Company owns working interests in a broad portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana. Cash flow from the Williston production will be used to fund the planned Paradox Basin development. In addition, the Board will consider further opportunistic value-accretive acquisitions.
