RE: The bit they don't tell you25 Mar 2026 07:05
On revenues, I think you need to look at the wider picture. Whilst revenues might be off where CH expected, oil rates also slipped down to as low as $51/52 a barrel during 2025 so that wouldn't have helped.
Secondly, the production was all laid out yesterday:
* 'Q4 non-operated production was 983 barrels of oil equivalent per day ("boepd"), net to Zephyr, versus average net production in Q2 and Q3 of 632 boepd and 925 boepd respectively. The increase in production during the second half of 2025 was primarily due to the US$7.3 million acquisition of working interests in accretive, mature proved developed producing assets, the completion of which was announced on 26 August 2025 (the "Acquisition"), offset by standard decline of the existing non-operated portfolio.'
Perhaps the 55% increase between Q2 & Q4 was included to demonstrate the uplift from the acquisition.
Whilst I wouldn't argue they are being secretive regarding Paradox, I think they are open about the metrics.