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Re below speculation as to why the share price is going up, we know why, its because Val is buying in 50k chunks. And has been for some time. Good timing, I think we will smash through 8p when news drops.

Yeah strange opinion there Bubbles, this is all part of the 25% acquisition paid for with shares. Tiny amount of dilution to gain a heck of a lot. Surprised you weren't aware of this.

Personally I don't think 1.5bn shares is that much, I have been in companies with more that have still done really well. It's all about supply and demand at the end of the day.

Welcome aboad Valparaiso!

The 36-2 well log was updated last week. Viewable on Telegram. Brief summary, they are going to put in casing and test at current depth. With the option to still drill the lateral If needs be. Seems a decision has been reached so I'd expect an rns this week.

Someone suggested the other day our mcap could also be a limiting factor for IIs but 250m is a threshold that we need to meet for some to be able to invest. I'd like to know how much truth there is in that if anyone can shine some light.

Traders appear to have moved out again, new holders have secured a new high low of 6.7-6.9p awaiting news. Slowly slowly catchy monkey. Next news should see us over 7p for good.

If we get bought out it will be by whiting or dominion, or similar. Large US midcap.

I genuinely don't think 30-40p by year end if all comes to fruition is unrealistic. With 36-2 being a game changer we could actually beat CHs 5000boepd by year end target by a fair margin.

Agree Tucker, the TP note has it pegged to be in production by July.

I agree with parts of what you are saying Setanta, and understand and share in the frustration that our SP is not higher. I also agree that production will be game-changing.

But I still maintain that a rapid upward trajectory will begin once we understand the scope of 36-2. You rightly say we have drilled two promising wells. Reading between the lines of the most recent rns and the broker notes, I think 36-2 will dwarf 16-2 by an order of magnitude. What has also been lacking in Zephyr is a degree of certainty as to when we can expect production. That gap is also now closing as detailed in the turner pope note. And I expect, when CH can, we will be further enlightened with an updated corporate presentation sometime in the not-to-distant future.

Don't think ch will be giving any interviews until he can tell us more, think Malcy was premature in suggesting an interview.

As pointed out by Bliss below, the TP note states that Zephyr where preparing to recommence the production test as at 20/01/23. Perhaps this had been slowed down by the increment weather, or had to cease entirely so the teams could focus on stabilising 36-2, I think the significant kick was felt 17-01-23 so could be entirely likely. This would explain the delay and for good reason.

Now, the biggest news we await is just how oily is 36-2, I suspect, considering we have targeted the Cane Creek for oil, that it will be a gusher. As soon as that is confirmed in official RNS, the SP will fly. I seriously don't think it will take long to see double digits. And Turner Popes very Conservative estimate of 3300 barrels of oil equivalent a day from the paradox will be blown out of the water. From what I understand from others, prolific wells utilising natural fractures operate at significantly higher pressures, have less of a decline rate and longer production life. Some that I speak to have suggested 2500 or more boepd is entirely within the realms of reality for such a well. We shall see!

Don't think it will be long Ezhik, I'd imagine CH is waiting for that and perhaps some more news on 36-2 before unleashing the PR campaign.

If the slawson wells come online in march that should put our boepd up to 1750, then the kirkwood well is slated to come online In July, should put us comfortably over the 2000 boepd mark. In the meantime we will have had the production testing results from both 16-2 and 36-2, if these are to go into production in October, I would imagine the market will have a fair amount of confidence in the success of Zephyr as an investment case, and wouldn't be surprised for some of that value to be already priced in prior to the wells going online. So yes Bluerover, in my opinion 15p or more is entirely achievable.

Production testing will tell the tale, everything up to that is speculation and conjecture. But, one has to speculate to accumulate. And to answer your question Bliss, if 36-2 alone could more than double our current production figures that certainly deserves a major re-rate.

I'd just like to add, the "significant kick" could really be transformational. A truly prolific well could blow the below forecasts out of the water. Very much looking forward to completion and production testing of 36-2.

TA pointed out in Telegram that the TP does provide some production forecasts:
Forecast Williston Basin non-op portfolio 2023 average: 1,550 to 1,750 boepd (up from c.1,400 boepd in 2022); • Forecast combined year-end 2023 exit-rate: 4,800 boepd (a c.200% increase in base production, with today’s acquisitions increasing total production by 60%). The above Paradox production estimates were based on the independent 2P forecasts plus installation of 10mmscf/d processing capacity. Anticipated 2023 start-ups include the Slawson wells in March, Cane Creek in July and WSU in October. All projections, of course, remain dependent on Paradox performance tests and timing of first production amongst of new non-operated wells.

I suspect this momentum will continue now. 16-2 news is due, hopefully this week. That should further bolster the share price and encourage new investors. Exciting times.

The TW article is not even fit for toilet paper. Should be condemned and incinerated post haste.