Member Info for Adon30

Considerable - large amount. Still doesn’t say sustained or imminent.

It also says shareholders will be updated on progress. So when it comes they will release the information.

It is PIs that seem to interpret these statements as gospel and attach meaning to them. I’ve been invested in these things too long to know nothing happens instantly, timescales always slip and things always cost more than they first expected.

Little point arguing over it as they’ve said it for several years now. Hopefully this is now the time it ‘finally’ happens. Would be nice around now to have a presentation and plan of steps required. Even if that does include any timescales (which will always drift).

The statement was "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."

Meaning that news will be positive over a large period when it is available. No where did they say sustained or imminent newsflow.

Thanks Duffs. So are we saying that Zephyr have done exactly what they said they were doing in the 30th July RNS?

Just a quick search of Wyoming O&G data has already showed me Zephyr Bakken registered. That is without looking at any of the other states. If people just did some basic research they would find this themselves rather than complaining to a BB.

Interesting that I mentioned acid wash at 09:29 and GRH mentioned it also.

Another option would just be to sidetrack mou3 to the shallow sands only. Does require a lot of mechanical intervention, mobilising rig etc. PRD may prefer to drill all horizons again. However the top layer is the one they wanted to monetise. And they would need to test all the lower levels again first before the shallow layers adding further cost. They could however do both when the rig is there…

From original interim mou3 drilling rns

“ Mud weight was gradually increased to 1.25 S.G., above that required to balance hydrostatic pressure. to reduce the inflow of gas into the well. This gas zone is therefore significantly overpressured (122 psi overpressured) and likely to be supported by connectivity to gas volume to provide pressure support. ”

I’m surprised that they haven’t managed to get it to pop yet. Possible acid wash could clear it, maybe? And could potentially still clean up. But depends how much they want to invest in it.

Yes, good to hear that they have identified initial production gas processing requirement and are progressing that as a first instance which can then be scaled up as required.

As I have said previously. Why would they have bought a gas processing facility that did not already have access to a gas export pipeline. It is a great reminder of the assets they have though.

RNS reflects exactly what was put in the latest presentation. They are working on multiple aspects with various different suppliers and off takers.

Some people just like to stir the pot and complain 'nothing is happening'. All the blocks are there for Zephyr, which they have collected over the years. It is just a case of stacking them all together.

It is in the rns

"· An additional 13 wells scheduled to be drilled in the near-term, with CAPEX potentially funded by Zephyr's strategic partner, a U.S.-based capital provider focused on the upstream energy sector;"

It is as though people have not bothered to look at or read the latest presentation that the company did. If they did then they wouldn't contunually come out with frustrating comments.

He has 2.7m personally. And 177m (was 159m) in origin creek

You appear to have posted this on the Pxen thread as well….

He holds via a subsidiary with Grant. Original Creek.

We have been down the bitcoin mining route before with State 16 as it was and still is stranded gas. It is the only well that needs additional pipeline. I'm not on about the export pipeline. There was always one of those from the facility, otherwise why have a facility there in the first place. And they have since had the Enbridge/ Dominion pipeline extension built to Green River.

However I have made it clear that they should concentrate on providing a facility capable of taking gas from all 3 wells and just do that with a sales offtake agreement. Once that is done then they can faff around with things like bitcoin mining. I would be happy with CNG at state 16 and this was something I mentioned years ago that could have been done and Zephyr could have been producing and funding the paradox a lot sooner. It was a big opportunity missed during high gas prices.

The important bit about the paradox is the gas processing capex and the infrastructure. Without any of that the other stuff is irrelevant and a waste of money. They should forget about cng and bitcoin mining and concentrate on getting the facility up and running capable of producing current production capacity. Any future capacity can then go to the next highest bidder. They spaffed money at bitcoin before. Stop wasting investors time and money.

I was expecting a placement for paradox but still held out some hope on a farm in as having 100% ownership. Bit of a discount rate but probably reflects the current accounts situation also.

Got mine about 10 past 9 but had no signal. So when got back and signed in was nothing there. I’m guessing the offer wasn’t for x amount of shares for a certain quantity you hold and could just buy whatever. Hence why it’s gone.

Did I completely miss the book build? Was waiting for a notification then did some things. Had the email and nothing there….

As I posted before. The last CPR took 5 months. So there was not much chance of getting that completed before accounts due. They should have however known the account situation sooner and raised when the SP was higher. However they didn’t have a costing on paradox or a suitable asset fully lined up then. All much clearer in hindsight. Hopefully they have costed this asset on a much lower oil and gas price.

The $16m is a non-cash accounting impairment. They have written in down based on what they had originally planned to earn. This is across a large portfolio and is not a loss. It is just less earnings than they expected in total. They have always used excess cash to buy more assets so I always thought they would raise to complete Paradox but was expecting as soon as well test complete or after YE results. The lower oil price has not helped returns but these are still returns they are getting on production assets. It is not uncommon to have these right downs in accounts as they could cause problems in future.

The 20% discount for the raise is not great. But when is a raise ever at an acceptable SP level for any investor. Unless you are the one getting the cheap shares and Zephyr have never really opened any raise up to existing shareholders as have ran ABBs.