Zephyr Energy Share Price (ZPHR)

Absolutely Northern.We need to get this one right first and foremost and take it from there! Hopefully this drill is one small step on a long profitable journey but theres always a but isnt there

I appreciate what you are saying 're the 20p might be quite conservative. A result though of the drilling issue last year means I am quite cautious, so for me it's first things first - the drill goes well, the results are good then will see where things are at then. I suppose to get to 20p and beyond it will imply again successful drilling and quicker expansion compared to what they have currently achieved. So to me the question is can Zephyr predictably achieve successful wells and if wanting to expand rapidly what is there strategy. However, first things first a successful drill and test results - one last point the so trend is now looking good.

Atb,

Northern

I too would not like to see anyone leave this board. I do find some people overly negative and feel the need to challenge something that seems to be unnecessarily looking for trouble. So come back John!

20p could well be very conservative.

Zephyr Energy

Zephyr has reported that initial flow rates from the six wells operated by Slawson Exploration Company in which the Company has working-interests have exceeded the Company’s expectations. The acquisition of the Slawson wells was announced on 21 December 2022.

Following the flowback of completion fluids in early November 2023, the Slawson wells were sequentially brought into regular production over the course of last month. While it is still early in the life-cycle of the Slawson wells, with a varying number of days on production for each well, production data adjusted for uptime shows an average flow rate of 897 barrels of oil equivalent per day net to Zephyr since inception.

As a result of the initial encouraging performance of the Slawson wells, the Company’s board of directors forecasts that the year-end production run rate from its non-operated asset portfolio in the Williston Basin, North Dakota, U.S. (which includes the Slawson wells) will be between 1,450 and 1,700 boepd, a mid-range increase of 51% versus sales volumes in the third quarter of 2023 of 1,043 boepd, and a 43% increase over the 2022 year-end production rate of 1,103 boepd.

Zephyr’s working interests in the six Slawson wells ranges from 11% to 32% and the Company estimates the Slawson wells to contain 2P reserves, net to Zephyr, of circa 550,000 barrels of oil equivalent.

Paradox project update

Zephyr’s operations team continues to progress planning for the “twinned” redrill of the State 36-2 well. Over the last 45 days, Zephyr’s team has engaged in detailed internal well-planning activity, a process which has included relevant input from specialised third-party service providers in addition to extensive ongoing interaction with Zephyr’s well control insurance providers. As previously announced, the substantial majority of the cost of the redrill is expected to be funded by Zephyr’s comprehensive well control insurance policy.

At the well site, all equipment (including the work-over rig) relating to the State 36-2 well operations was mobilised off location in October / November 2023. More recent operational work has included:

· the completion of a full site clean-up and soil testing (pending approval from the State of Utah);

· the completion of a regrade of the drill site, with surveying and staking for the State 36-2R underway;

· completion of drilling, directional and casing design;

· commencement of independent, third-party consultation of drilling plans and procedures; and

· advancing gas marketing and infrastructure partnerships negotiations.

Next steps will include the submission of a final drilling plan to the State of Utah and the U.S. Bureau of Land Management as part of a sundry notice amendment to the existing State 36-3 LN-C9 well drilling permit. Rig sourcing, selection and contracting workstreams are also underway, as is the pl

No doubt our new investors will add their holdings once Paradox drill is confirmed a proven success …. Which in turn will add to our share price….

What the hell is not to like about that!!

Bring them on and more , happy days ahead guys !