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The rig has moved off as per this weeks rns. Casing in, rig released.

Great explanation thanks Oilworker. Well the traders will have fun trying to time the news in that case. Could be next week, could be the following, who knows!

So potentially 18 days or more into the 30 day test? As we know they managed 12 days in December?

Agreed but I think CH wants to get the 16-2 news to market first. Then onwards with a webinar etc

Agree I think the potential buyers are staring us in the face, Williams etc

Completely agree Setanta. And thank you for the kudos.

Not a bad article either from Moram there. Note the line saying a good reservoir at 36-2 including oil gas and condensate. Also the line regarding a 16-2 rns in the not to distant future. Also even more interesting that production could be late h1 with infrastructure in place.

Good article. Underpins our sound financial position, enabling us to push forward with development of the paradox basin. I am keen to see the 16-2 extended test results, I wonder if with the new surface infrastructure they have been able to push the flow rate nearer to the max flow rates that they have modelled. If they have exceeded 1000 boepd or more that will be very good for shareholders. 2100 was the max in the model....we shall see!

I'd also like to point out that we've gone from sub 1p to 7p. The last year and a bit has been a long consolidation phase, whilst the company has put together the land package and infrastructure to move forward with production. I still think CH and the bod are building a ready made mid-cap producer for sale at a later date.

Oh you've got me, I'm on the payroll for sure!
Nothing I've said is untrue.

It's quite simple why we are pegged at the current share price, uncertainty. But I suspect very soon after we've had our production testing results from 16-2/36-2 we will get a broader update on the infrastructure plans and a clear path to production. When that path is clear I think we will resume our bull run.

Not often you find a share on aim that is fully funded, has a great asset, in a safe jurisdiction, with proven management. If you are impatient by all means go and rainbow chase somewhere else!

Speaking of crud...thanks for the prime example kipperfoot. Our non op production figures mean we are fully funded for the Paradox project, which we are now on the cusp of unlocking. Q3 2023 and we will have 3 wells in the paradox producing and our annual income will be closer to 200m, I suspect we will be nearer our 20p target price if not surpassing it. So by all means take your 10% and run.

I can't believe some of the crud being peddled here and on the other site over the course of the day. 2 days of excellent news and we somehow plummet below 6p. All orchestrated by traders, no doubt they will buy back in shortly and we will push back up to 7p into next news. I'm hoping the 16-2 production test results exceed expectations and are swiftly followed by an infrastructure update. Some clarity around production timescales, combined with great production test results from 16-2 and 36-2, will convince the wider market that zephyr is a 20p a share company as stated by auctus and Malcy, all day long. And that's just for starters in 2023. Once those two wells, plus kirkwood are producing we will be able to drill the paradox to our hearts content. When the penny drops our bull run will resume and this shenanigans will be over for good!

Again aware both commodities have different valued, as are most on this board. The gas still looks to be highly economic and as we all know we have a direct customer, dominion. You've done a good job steering attention away from 36-2 today. That's what we should be discussing, the fact that we have a large natural fracture network, and perhaps a well that will dwarf 16-2 in production figure.

Thanks but fully aware of the terminology, read the rns, it clearly states 690 barrels of oil equivalent per day was achieved. So yes, including oil, gas and condensate. The logs as adon has pointed out only provide a snapshot, as do the rns's. I look forward to the next test results so all of this can be put to bed.

Late reported 200k trade...

It literally says in the rns that I have posted below 690 barrels of oil equivalent per day was achieved.
Could it be that the well log only lists bopd not boepd. So does not include the gas?

Potential unconstrained rate of 1100 boepd. Salt taken into account. Infrastructure in place to deal with it now. Next test results should be very telling. Let's not rely on just part of the picture using the well log and wait for official company news. Like the rns that I have used to refute your argument, before jumping to conclusions.

See my post below from the first hydrocarbons at 16-2 rns Seekinvalue. Has the figures in black and white choked, and boepd at 690.

Seeikinvalue, from first hydrocarbons rns at 16-2, proof that the test was choked/facility constrained, so not all to do with salt Intrusion. Hopefully the new infrastructure in place for the second test has mitigated any salt issue.

State 16-2LN-CC well update overview

· The State 16-2LN-CC well was put on flowback on 28 October 2021, under a heavy 7/64 inch choke in order to prevent formation damage during early stages of flowback;
· The well is now successfully flowing hydrocarbons;
· Although production rates are facility constrained at present, the well is demonstrating highly encouraging daily average flow rates of 420 barrels of oil equivalent per day ("boepd") with recent hourly rates of over 690 boepd on a slightly less restricted 12/64 inch choke setting;
· In addition to hydrocarbons, the well continues to flowback completion fluids at approximately 1,200 barrels per day and production testing remains ongoing:
o Fluid composition is evolving as additional completion fluid is recovered, with ultimate expected gas/oil ratios yet to be determined.
· The well has demonstrated limited pressure drawdown to date despite the high liquid rate, an additional encouraging sign which may indicate a large connected volume.
· Results to date suggest the State 16-2LN-CC is a successful proof of concept well with highly positive implications for the utilisation of hydraulic stimulation completions across the multiple reservoir zones and across the Company's 37,613-acre lease position within the Paradox Basin.

Great Post Mcdoog.