Zephyr Energy PLC State 16-2LN-CC operations update (1650P)
15 Octubre 2021 - 1:00AM
UK Regulatory
TIDMZPHR
RNS Number : 1650P
Zephyr Energy PLC
15 October 2021
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
15 October 2021
Zephyr Energy plc
("Zephyr", the "Company" or the "Group")
State 16-2LN-CC operations update;
Equipment and materials on site; and
Completion operations to commence 18 October 2021
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain
oil and gas company focused on responsible resource development
from carbon-neutral operations, provides an update on operational
activity on its flagship project in the Paradox Basin, Utah (the
"Paradox project").
The Company is pleased to announce that all equipment and
materials required for hydraulic stimulation (including water
tanks, water and proppant materials) have been successfully
mobilised to the State 16-2LN-CC well pad, and that completion
operations are scheduled to commence on Monday 18 October 2021.
It is anticipated that completion of the well will be finished
in under a week, at which point the Company will commence
production testing. The Company will provide an update on initial
production volumes as soon as possible thereafter, once the well
has cleaned up and testing is completed.
Colin Harrington, Zephyr's Chief Executive, said: " In spite of
the significant supply-chain and weather issues impacting our
industry, I'm delighted that we're ready to commence completion
operations in the manner we expected. I'd like to thank our
operations team and third party contractors for their hard work and
professionalism in helping us overcome these widespread logistical
hurdles.
"I'd also like to once again thank our Shareholders for their
continued support of Zephyr. Last night, I was honoured that Zephyr
won the "Best Performing Share Award" at the 2021 AIM Awards event
- and I am fully aware that this achievement would not have been
possible without the extraordinary dedication of our team, our
Board, our advisers and our investors. While I'm sorry I could not
attend the event in person and am proud of what we've achieved over
the past twelve months, I want to reiterate that my focus remains
one hundred per cent on our current operations and future
performance.
"I look forward to reporting from the well site next week as we
launch a new chapter in the Company's history with the completion
of the first in a series of planned wells on our Paradox
asset."
Contacts:
Zephyr Energy plc Tel: +44 (0)20 7225 4590
Colin Harrington (CEO)
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328 5656
Adviser
Jeremy Porter / Liz Kirchner
Turner Pope Investments - Broker Tel: +44 (0)20 3657 0050
James Pope / Andy Thacker
Flagstaff Strategic and Investor Communications
- PR Tel: +44 (0) 20 7129
Tim Thompson / Mark Edwards / Fergus 1474
Mellon
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END
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