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Very good few weeks here and lots more to come. It’s been a tough 11 months…
I’ve had some very positive interactions with a senior member of the team and with the Dominion pipelines and 16-2 ready I am told things will move fast after 36-2. The company are expecting only a short production test before it’s brought on line.
When I asked about the necessity for the refurb on the gas processing plant the answer was interesting. Yes they have to wait until the full extent of the 36-2 is known but one of the options they are exploring is a third party being brought in for some sort of modular toll agreement where they process the gas (no expenditure on capex from Zephyr etc).
Sounded like after a tough year they are v excited about what is about to come and as keen as we are to get the Paradox into production, new CPR out, get the development plan out… be bought out (they didn’t say this but that’s always been my assumption). The Paradaox is way too big to handle for Zephyr.
I agree! A smiling Colin and Katie... good old days!
600 BOEPD (Extra) from today is significant...
2023 was miserable but the asset is still as big as it ever was and the well control incident was out of Management's control. With 36-2 redrill in Q1 2024 (please God give us a winter totally unlike last years), with infrastructure complete and both 36-2 and 16-2 tied in, an updated CPR I believe H2 2024 will be buyout time.
CH totally ducked the question about conversations with bigger partners... he's having them for sure.
Still here my friend... frustrated with the delays like the rest of us, but very mindful of what the production test of 36-2 could be about to reveal. I remain fully confident in CH and the BOD and believe the potential of the asset to be huge.
Well Mark in the Adelaide Capital interview which was recorded on the 12th April said 4-8 weeks... its 8 weeks this Wednesday. I have a feeling with the strong rise today it could be someone somewhere knows something. Possibly. Maybe. GLA.
In his last interview Mark mentioned progress by the summer months. Got me thinking when does summer start?
Then I went back over Condors Twitter posts, and it was the 30th March that the startlingly brazen post of ‘The Board is confident that a binding agreement will be reached. Investors will be updated in due course.’
Could it be that once a company had tipped the board the wink that they were going to make an offer they had 28 days (or by the end of the month) to make it?
In which case that would be the end of April or start or May… which for many is the start of summer…
Anyway it’s coming home some time soon!
Indeed. When asked about timeline he said 4-8 weeks for next stage but also that news could come as early as next week. Looking good. He majored on what good value it was and how if the asset was in Canada it would be worth 5x current MCap. I think he’s gunning for 2-3 x current MCap.
My impression is that he’s a bit weary, knows it’s going to be sold and so this presentation was slightly pointless.
He’s waiting to hear imminently on two more site visits…
Of real note is that buried in his chat was the prospect of the whole company being bought out rather than just the assets. He bought this up, unprompted and made a real point of it.
Still here my friend, still heavily invested, increasingly frustrated.
However hanging on as when news lands (about 16-2 and 36-2 and the tie in with gas pipelines) I think we will be off again. And I do believe the POO will be closer to $100 in Q3 and Q4.
I am not sure how much the Utah weather has adversely affected the production testing but I know for certain that the company were expecting lots of good news from early 2023. That clearly has not been in the case but the asset is there and I do trust both CH and the BOD. Both the 19th Jan and 14th Feb RNS were strongly positive.
Holding (but fortunately not my breath!)
Indeed. Noticed this sentence in the blurb at the bottom...
'Following the successful initial production testing of the recently drilled and completed State 16-2LN-CC well...'
Great to know the 16-2 is now completed or maybe I am reading too much into that...?
Good evening all,
Just enjoying some time further researching Zephyr and cannot remember reading this article before from the NETL.
https://netl.doe.gov/node/10320
Does anyone else recall (either from an RNS or interviews with CH) about being part of 4 1/2 year project scheduled for completion in March 2024? This gives a very helpful perspective on time scales and helps me to understand why efforts to monetise 16-2 did not really take place during 2022.
With the Utah Geological survey (see article) estimating 471 million barrels of recoverable oil in the Paradox Basin I now read the RNS of the 9th December (about the extra $1million non dilutive grant funding) alongside this article and it all begins to make much more sense.
I think CH and the BOD are slowly but surely creating a monster O&G company...
Thebhoys, my friend, I hope you are able to get back in before too long.
All good. Sorry for you my friend that our anticipated share rise has not happened as we were lead to believe in early January. No doubt that 2023 will deliver ...
Keep well everyone... off to read Malcy's Bucket list...
Extremely well my friend. Enjoying some RnR with the family down in the West Country.
News is definitely around the corner... and from CH last interview with Malcy before Christmas I cannot help but continue to think about those 25 souls from the Rig Crew who have been working every day since unlocking the Paradox Basin...
2023 is going to be good!
Frank I couldn't agree more.
I know its stating the obvious but with 36-2 drill starting on the 21st November (and initially expected to take 30 days) there is no way CH & Grant (via OCE) and Eadie would cough up nearly half a million pounds on both the 21st Dec and then the 29th Dec if there were any nasty surprises. They've already stated on the 1st Dec that there are hydrocarbons flowing again from the 16-2.
I remain super confident that 2023 will see the Paradox plan unveiled and executed upon and have a feeling that news is going to come thick and fast in early 2023... Like others I believe an updated CPR will come at some point in 2023 (Q3/when Dominion pipe line/gas infrastructure is tied in?) which will be the precursor to the 'For Sale' sign going up.
Thebhoys I hope you and all other LTH are keeping well?
The Chain/TheBhoys like you I feel now is the time for Zephyr. The coming weeks (which i hope will include a fulsome webinar) will be transformational.
I spotted Mathew Idiens in Waitrose (Newbury) on Friday evening and was sorely tempted to tell him some home truths (whilst thanking him for the 3D seismic!) I think he still holds 4 million shares so no doubt he is as grateful to the new team as we are!
Good luck to one and all.