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I personally think the £100m was just a red herring to cover the glacial / non-existent progress at the Paradox.

It pushes things into the winter months, when our old friend the weather can be used as an excuse again.

Impressively, Colin’s managed to outdo Stephen Sanderson at UKOG by producing even less oil.

And then they can start blaming the weather again for lack of progress.

Whoever made that very large purchase last week seems to have timed the market perfectly.

I 100% agree with everything you say about LinkedIn. I’ve spent the last 20 years in digital media, and if I see an agency posting loads to LI, it means only one thing they don’t have much paid work on and are trying to look busy.

But we PIs see Paradox as the jewel and the gravity behind why we’ve invested here, and not to mention it is rather odd.

And it’s not a put-up-and-forget page, they posted to it just last week with the CPT results, etc.

This is how they describe themselves on LinkedIn:

Zephyr Energy (LON: ZPHR) is an investment platform formed to aggregate responsibly developed, economically attractive oil and gas interests in the Rocky Mountain region of the United States.

Absolutely no mention of the Paradox.

I thought I was investing in an oil discovery and production company, not an investment platform!

No wonder they’ve failed to produce enough gas to even fill a crisp packet.

Not invested here, but I’ve been watching from the sidelines. A good friend works at the Trevor Mann Unit and was among the first in the UK to use the system in a live setting. She was really impressed and said it was a game changer.

But this share illustrates much of what’s wrong with so many AIM companies. They’re still in the start-up stage, yet the board is taking nearly £900k in wages and bonuses each year. They pay themselves as if they’ve built a successful, revenue-generating business when that’s not the case. They seem deluded about their own worth, and it’s the small PIs bankrolling their lifestyles, with diddly squat delivered in return.

I hope, for the sake of the children who will benefit from this equipment, that the company somehow continues but it’s another example of corporate greed jumping the queue ahead of sound business acumen.

Go Mr Nugent - fingers crossed for you

We just need to start moving whats in the ground into the bank account.

What this bit

"By acquiring this package of surface infrastructure, we are moving rapidly from a programme of value delineation to a tangible development programme which is expected to facilitate cashflows from the project in a more rapid timeframe. "

So the CPR confirms what we all had hoped for and believed in, e.g. lots of value in the ground we own.

But yet again, we seem to be no closer to having an actual plan on turning that locked in value into actual money.

Instead of today coming with a detail planned. E.g. based on what we told you back on the 17th July*.

All the gas infrastructure is finished, and we are going to start producing revenue from 7th October.

Instead all we get is talk of a Data Room and lots of interest yet again, just waffle Colin, we need substance from you after four years of waffling.

17th July RNS

* Following the recent successful production test on the State 36-2 LNW-CC-R well (the "36-2R well"), as announced on 7 May 2025, Zephyr continues work to deliver the first stage of gas infrastructure for the project. This includes equipping the pad for production, reinstatement of the 6-inch pipeline gathering system, the deployment of gas processing infrastructure to Zephyr's pre-existing gas plant footprint, as well as planning for tie-in to the adjacent 16-inch gas export pipeline.

Zephyr's operations team is working with the provider of the gas processing units to develop the optimal initial processing capacity. At present, the initial processing capacity is envisaged to handle 5-10 million cubic feet of natural gas per day while also enabling the sale of valuable liquid streams consisting of both condensate and NGLs (Natural Gas Liquids).

You would expect so but this company has never "lined" up a single thing in the last five years.

Prime example, we are going to have drill results and need a new CPR - lets wait 71 days after collecting the data before commissioning the CPR.

This is the level competency we are dealing with.

You could easily come to the conclusion that they are completely out of their depth.

The test results were known on the 7th May. It took them until the 17th July to commission the CPR report a delay of 71 days!

Again, all written completely woolly to give them excuse room, but the RNS of the 17th July said it was due by the 30th September that’s 75 days.

Why on earth did they sit on their backsides and delay this by 71 days? It wasn’t a surprise that it needed doing.

We should have had this completed back in the summer.

The CEO looks like he is full of more gas than our discovery.

You have to ask yourself, what company spends all that money on plant and machinery – so that they don’t produce any coal sales in a year?

Probably the same type of company that move away from auditors who are experts in mining fraud.

Bring the FIFO model to datacenters!

or being more sci-fi

an army of robots looking after it

This is from AI - so make of it what you want, but I was avoiding work this morning and this is the outcome of a conversation.

That’s a really sharp connection you’re making 👌 — and it’s not far-fetched. Let’s unpack it in the Zephyr Energy + Paradox Basin gas context:

1. The challenge big tech faces

Training and running large AI models requires huge amounts of reliable electricity.

Hyperscalers (Microsoft, Google, Amazon, Meta) are struggling to secure power in traditional hubs like Virginia, Dublin, and Frankfurt — grids are constrained.

They’re looking for direct energy partnerships: on-site renewables, nuclear SMRs, or dedicated natural gas supplies with carbon management.

2. Paradox Basin gas (Zephyr Energy’s discovery)

Zephyr’s Paradox project (Utah, US) has very large unconventional natural gas resources.

Location is key: the US Southwest has a lot of open land, some infrastructure, and a supportive regulatory climate for energy projects.

If Zephyr can prove sustained commercial production, it’s the sort of field that could underpin long-term power supply agreements.

3. Data center co-location with gas fields

Yes, it’s technically feasible — and it’s already being explored elsewhere:

Microsoft & Bloom Energy tested natural gas fuel cells directly on data center campuses.

Crusoe Energy deploys modular data centers next to gas flares, running compute on stranded gas.

In Texas, crypto mines already sit on top of gas supplies, using dedicated pipelines or generators.

For Zephyr:

A hyperscaler could site a large data center in Utah near the gas field, build a dedicated power station (gas turbine or fuel cell farm), and run off that supply.

Add carbon capture and storage (CCS):

CO₂ captured from combustion.

Re-injected into the Paradox wells for enhanced gas recovery (EGR) and long-term sequestration.

This not only reduces emissions but could improve gas output (a double benefit).

4. Benefits of this setup

Reliable, baseload power → critical for AI workloads.

Energy security → not dependent on stressed public grids.

Green narrative → with CCS, a company could badge it as “low-carbon AI compute.”

Economic synergy → Zephyr monetises its gas, hyperscalers secure energy.

5. Challenges / risks

Scale: AI hyperscalers need gigawatts; Zephyr’s current development is much smaller, though the basin is large. Would need major build-out.

Infrastructure: High-voltage transmission and fiber backhaul would need to reach the site.

CCS economics: Capture and reinjection tech is expensive, though tax credits (US 45Q) help.

Corporate optics: Big tech has “100% renewable” pledges; they’d need to frame gas+CCS as transitional or “net-zero compatible.”

✅ Bottom line

It’s entirely possible that a company like Microsoft, Google, or Amazon could:

Site a data center near Zephyr’s Paradox Basin gas resources,

R

Option 1

Zephrys intention has never been about producing oil at the Paradox. It’s only been about proving that its possible commercially and that XX barrels of oil are recoverable from the licenses. Then use this information to sell to a third party. Hopefully in a way that rewards all long-term shareholders, rather than just looking after the board e.g. they get new jobs with large options in the new company to compensate the shafting we could get.

This option hangs in the balance of a very good CPR report and a deal being done.

Option 2

We are finally going, after three discoveries, start to produce oil!

The CPR is only important if they are going to use this document to help them raise more funds (dilution yet again for us and yet again the promise of the non ops paying for Paradox broken again.)

Once the CPR comes out, the company will then have us waiting for the following before production finally starts.

A production licence (the legal right to extract hydrocarbons).

An approved Field Development Plan (FDP) or equivalent in the jurisdiction.

Environmental permits and consents (disposal, emissions, etc.).

Health & Safety approvals (facility readiness, risk assessments).

Does anyone know if the above is already agreed and in place?

CPR +10 days

This is Zephry - all LTH know that should be written as.....

CPR +60 days at least

Thanks for taking the time out and replying.

Appreciate this all takes time. We are over 4 months in since the production tests was shared with us and similar time also for the mystery £100m investment fund.

So it’s reasonable to expect lots of positive news in the next 8 weeks.

Question, if this is the case, why are they waiting for it before going into production.