The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Colin Harrington, Zephyr’s CEO commented:
“After months of meticulous planning we are delighted to have commenced full drilling operations with the prime objectives of delivering a safe and timely drilling operation followed by a successful well test.
“We look forward to providing regular updates as drilling progresses.”
Malcy:
Just what the Zephyr shareholders wanted today with news that the Paradox well has been spudded and the company are back to where they left off last year. A lot of water has passed under the bridge since then but the class of this management has meant that they developed the non-operated portfolio without which many wouldn’t have survived and had good enough insurance to pay for this well.
So high hopes then for the voyage to TD of 10, 362 feet including a short look at the horizontal reservoir section, this should take around 30 days with flow testing after that. The market will be watching with considerable interest, any success that opens up the Paradox will indeed be a company maker…
Islandgirl. Yes, this is what CH said in the 17th April RNS:
"We look forward to keeping our stakeholders updated as drilling progresses and believe that these operations will be the catalyst to further unlock the significant potential of the Paradox project."
Https://twitter.com/ZephyrEnergyPlc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Https://www.malcysblog.com/2024/04/oil-price-ujo-zephyr-deltic-hunting-eog-and-finally/
Https://twitter.com/ZephyrEnergyPlc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Oil is going up at the moment with predictions of $100/b next month. Good timing for long termers here.
https://www.telegraph.co.uk/business/2024/04/13/markets-brace-for-oil-hit-100-saudi-slashes-production/#:~:text=Oil%20prices%20are%20poised%20to,first%20time%20since%20summer%202022.
They have already discovered a huge quantity of oil, faulty equipment replaced, best rig and crew for the job to control the well pressure. The sp will be multiples of the current price if all goes to plan so it's no wonder the it's rising.
Https://twitter.com/ZephyrEnergyPlc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
More good news as Zephyr announce the start of the drilling operations at the Paradox Basin well 36-2R. The spudder rig having been mobilised and doing all the necessary preparation work for the main drilling rig arriving in mid April.
Not much to add I know but it is good to see such regular updates. At 3.74p the shares are up 17% today and have nearly doubled since the turn of the year but enthusiasts should remember what they were before the operational difficulties and quite what the upside is at Zephyr.
My confidence is undented and my 20p TP remains intact, my confidence in the Paradox Basin is still extremely high and the management at Zephyr amongst the best in the sector.
Https://www.malcysblog.com/2024/03/oil-price-zephyr-and-finally-2/
This reminds me of the 'good old days' of 2020/21 when it went higher and higher almost every day. Now we have the best rig to withstand the high pressures and by all accounts, the best drill team. The oil has already been discovered, what more could we ask for?
Good luck all.
And so Russia can constantly re-arm, overrun Ukraine and take on Europe if they wish as they have big oil sales in India and China which makes a mockery of sanctions.
Anyone here buy anything from India or China?
I never saw ZPHR say the two drills cost the same amount. Obviously, there may be some extra costs this time around that were not factored into the previous insurance policy. For instance, they may have opted for a rig contract that costs more as they and the rig company have put in place extra safety measures.
Fortunately, the company have the non ops which produce hard cash.