Zephyr Energy PLC - Rocky Mountain oil and gas company - Receives all the final approvals required to proceed with the spud of the State 16-2 well at its project in the Paradox Basin, Utah, US. The approvals include surface rights and rights to drill from the Utah School and Institutional Trust Lands Administration, federal right of way approvals from the Bureau of Land Management, and application to drill approval from the Utah Division of Oil, Gas & Mining. In addition, the company has received all necessary consents from its joint-venture partner on the Paradox project.
Chief Executive Colin Harrington says: "I am delighted that we have secured the final approvals and consents required to facilitate the commencement of drilling of the State 16-2 well. With work on the ground already underway, we are in the final stages of operational preparations to ensure the safe and successful spud of the well by our year-end goal."
Current stock price: 0.63 pence
Year-to-date change: down 38%
By Paul McGowan; paulmcgowan@alliancenews.com
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Zephyr Energy (ZPHR)