Member Info for Southmead

Dinner interrupted me, but todays closing share price of 3.4p values Zephyr at £67 million, 3 times less than the DCF of just one part of Zephyrs assets.

Drilling of the State 36-2 LNW-CC-R well was - completed in February 2025, - Peak production rate: 2,848 barrels of oil equivalent per day (boepd), including: - 11.9 million standard cubic feet/day (mmscf/d) of gas and - 856 barrels/day of oil. The CPR values all 7 locations, including State 36-2 at $400 million

Tower has been actively working to finalize farm-out agreements for its Thali license in Cameroon and PEL96 in Namibia. A deal with Prime Global Energies was announced in January 2025, and subsequent updates indicate that completion is approaching. Rig Contract Developments: A Letter of Award for a rig contract in Cameroon was issued in June 2025. If the rig mobilization is confirmed, following ADES deal. Finally, recent interviews with Chairman Jeremy Asher and SP Angel analysts hint at strategic developments in the pipeline. Updates from Cameroon's MINMIDT or Namibia’s petroleum authorities expected soon.

'Tower has announced two transformational farm-out agreements with Prime

International for the Thali (Cameroon) and the PEL96 (Namibia) offshore licences.

We update our financial forecasts and NAV for the proposed farm-out agreements and

reiterate our SPECULATIVE BUY rating with an updated 0.16p/share target price.

Tower agrees farm-out of Cameroon and Namibia licences to Prime

Tower announced that it has executed two farm-out agreements with Prime Global

Energies for minority, non-operated interests in the offshore Cameroon Thali licence

and the offshore Namibia PEL96 licence. The agreements provide $15m funding to drill

the NJOM-3 appraisal well, alongside ~$4.4m in cash payments to Tower and Pegasus

at execution and completion that will ultimately contribute significantly to the

Company’s current working capital position. Completion of both farm-out agreements

is expected by end-1Q25 subject to government, partner and regulatory consents.

Cameroon farm-out agreement provides funding to drill appraisal well

Tower will farm-down a 42.5% non-operated interest in the Thali licence (100% WI) to

Prime in return for a $15m gross contribution to the Thali work programme costs.

Prime will also make two ~£1.5m payments to Pegasus at execution and completion

of the agreement as consideration for funding previously provided. Pegasus (a trust of

which the CEO Jeremy Asher is a lifetime beneficiary) will be using 50% of the cash

payments to subscribe for additional new shares in Tower, half of which will be locked

in for a year, which will increase the CEO’s direct shareholding to 25.33%.

Prime is an attractive and credible counterparty with a strong balance sheet

Prime Global Energies is a wholly owned subsidiary of Prime International Oil & Gas

(private), which has a long legacy spanning over 3 decades of successful exploration &

production activities in Pakistan. Prime operates multiple producing fields including

the Bhit, Badhra and Kadanwari gas fields, as well as non-operated interests in several

fields and gas processing facilities (link). Prime recently filed an annual report for the

year ended 30 June 2024 at the UK’s Companies House reporting $33m in revenues,

$24.8m profit and $43.2m of cash on its balance sheet at the end of the period.'

Coming soon

If you missed the chance to buy in the 0002p's and are feeling a little sore about, don't make it worse by missing out on the .0003p's.

Buy while the SP is this low, it will not last for long and then boom, it will be above .001p and it will be out of reach.

The process of getting government approvals has taken longer than hoped for and this has somewhat delayed operational plans, but the approval time frames so far are not unusual and the Company believes these processes are still on track in both cases. Tower is in a strong position, subject to completing the two transformational farm-out agreements announced in January with Prime Global Energies for minority non-operated interests in the Thali and the PEL96 offshore licenses. With Prime’s funding in place, the Company should be able to drill the offshore NJOM-3 appraisal well in 1Q26 at Njonji, which is expected to confirm the commerciality of the oil discovery and de-risk a future fast-track development.

6 October 2025: Shelf Drilling has published a new document – “Shelf Drilling, Ltd. – Extraordinary general meeting held - approval of the cash merger with ADES”

Https://www.sharecast.com/news/broker-recommendations/canaccord-genuity-raises-zephyr-energy-price-target-on-reserves-uplift--20999407.html

Analysts at Canaccord Genuity raised their target price on exploration and production firm Zephyr Energy from 10.5p to 14p on Monday, following the outcome of the Sproule competent person's report undertaken on the Paradox's Cane Creek reservoir of the White Sands Unit.

Canaccord Genuity noted the CPR comes with "a significant upgrade" to the Zephyr's reserves and resources following the successful testing of 36-2R earlier in the year. "The CPR lays out a 1P (proved recoverable) reserves value of 14.8 mmboe, covering the first 7 wells to be drilled (including already drilled 36-2R & 16-2). The company's 2P reserves (proved + probable) of 35.3 mmboe covers the first 12 wells to be drilled, with the CPR's total recoverable estimate of 74.2 mmboe (+350%) representing a full field development of the Cane Creek reservoir," said Canaccord, which has a 'speculative buy' rating on the stock. The Canadian bank said it was important to note that the Cane Creek reservoir represents only one of nine layered reservoirs, which all show promise, but the remaining overlying eight have not yet been tested, with the potential of these assets representing the company's 2U resources of 270 mmboe. "We update our valuation to reflect the new reserves and resources estimates from the Sproule CPR, resulting in a material 33% increase in our risked-NPV10 valuation to 14.3p (25.3p un-risked). As such, we increase our target price to 14p (from 10.5p). We maintain our Speculative Buy rating, highlighting the significant 380% implied upside our target price offers to Friday's close," concluded Canaccord.

The process of getting government approvals has taken longer than hoped for and this has somewhat delayed operational plans, but the approval time frames so far are not unusual and the Company believes these processes are still on track in both cases. Tower is in a strong position, subject to completing the two transformational farm-out agreements announced in January with Prime Global Energies for minority non-operated interests in the Thali and the PEL96 offshore licenses. With Prime’s funding in place, the Company should be able to drill the offshore NJOM-3 appraisal well in 1Q26 at Njonji, which is expected to confirm the commerciality of the oil discovery and de-risk a future fast-track development.

There is no doubt that Zephyr lacks the capital to develop the full 12+ well development plan and the operational bandwidth to handle all this, at a pace. The Farm Out partner should address this issue, de-risk the project for us and enable a much faster development. 'Multiple potential partners are reviewing the project data' says CH. It is intriguing to speculate who might be interested. Just maybe EOG Resources are on the list, now that would set a fire under the project, if they got their hands on it. We could expect things to happen quickly then.

'Tower has announced two transformational farm-out agreements with Prime International for the Thali (Cameroon) and the PEL96 (Namibia) offshore licences. We update our financial forecasts and NAV for the proposed farm-out agreements and reiterate our SPECULATIVE BUY rating with an updated 0.16p/share target price.'

Of course, what would really drive this share price up, is an announcement on essay results from the 1,303 oxide mineralisation ore samples that have been sent to the lab. Now that would create some excitement. After all the results are expected soon and if they are that good, it will be very hard to keep it quiet.

'For the upcoming trading day on Monday, 6th we expect Oracle Power Plc to open at 0.0525p, and during the day (based on 14 day Average True Range), to move between 0.0500p and 0.0650p, which gives a possible trading interval of +/-0.0150p (+/-30.09%) up or down from last closing price. If Oracle Power Plc takes out the full calculated possible swing range there will be an estimated 30.09% move between the lowest and the highest trading price during the day.'

And if you would like to see what comes to those with patience and a little resolve, pop over to Oracle Power ORCP and see. Great things happening there after a long wait.

'Tower has announced two transformational farm-out agreements with Prime

International for the Thali (Cameroon) and the PEL96 (Namibia) offshore licences.

We update our financial forecasts and NAV for the proposed farm-out agreements and

reiterate our SPECULATIVE BUY rating with an updated 0.16p/share target price.

Tower agrees farm-out of Cameroon and Namibia licences to Prime

Tower announced that it has executed two farm-out agreements with Prime Global

Energies for minority, non-operated interests in the offshore Cameroon Thali licence

and the offshore Namibia PEL96 licence. The agreements provide $15m funding to drill

the NJOM-3 appraisal well, alongside ~$4.4m in cash payments to Tower and Pegasus

at execution and completion that will ultimately contribute significantly to the

Company’s current working capital position. Completion of both farm-out agreements

is expected by end-1Q25 subject to government, partner and regulatory consents.

Cameroon farm-out agreement provides funding to drill appraisal well

Tower will farm-down a 42.5% non-operated interest in the Thali licence (100% WI) to

Prime in return for a $15m gross contribution to the Thali work programme costs.

Prime will also make two ~£1.5m payments to Pegasus at execution and completion

of the agreement as consideration for funding previously provided. Pegasus (a trust of

which the CEO Jeremy Asher is a lifetime beneficiary) will be using 50% of the cash

payments to subscribe for additional new shares in Tower, half of which will be locked

in for a year, which will increase the CEO’s direct shareholding to 25.33%.

Prime is an attractive and credible counterparty with a strong balance sheet

Prime Global Energies is a wholly owned subsidiary of Prime International Oil & Gas

(private), which has a long legacy spanning over 3 decades of successful exploration &

production activities in Pakistan. Prime operates multiple producing fields including

the Bhit, Badhra and Kadanwari gas fields, as well as non-operated interests in several

fields and gas processing facilities (link). Prime recently filed an annual report for the

year ended 30 June 2024 at the UK’s Companies House reporting $33m in revenues,

$24.8m profit and $43.2m of cash on its balance sheet at the end of the period.'

Coming soon

I think the 'Analyst' may be Joshua Thompson, He wrote an article published in Investment News on 30th September.

A good read, and it may extend to a full valuation of Oracle but I haven't found it yet.

https://joshthompson.co.uk/investing/oracle-power-fully-funded-gold-mining-agreement-mega-resources/

Pity that IC don't provide a source for their Oracle Forecast of .11p.

They say that it is the estimate of 1 analyst but no substantiation and no valuation model to support the claim.

Anyone have any idea of who the analyst is and how they valued it?

Weekend FOMO now kicking in here, nobody wants to miss the Monday news that will send this share rocketing

Take your pick, which could it be, lots of news according to CEO,

Green Hydrogen & Ammonia Project: She discussed Oracle’s 50,000-tonne, 1.2GW green hydrogen and ammonia initiative in Pakistan, backed by investment from Sheikh Al Maktoum and partnerships with firms like ThyssenKrupp.

Thar Block Development: She emphasized the strategic importance of the Thar coal block, which could be a game-changer for Oracle Power’s coal-to-gas and coal-to-liquid ambitions.

Diversification Strategy: In another interview, she outlined Oracle’s move to diversify across commodities and jurisdictions, including gold exploration in Western Australia and potential nickel finds.

The CPS has been typed up and in for signature