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So you think if we are turning over 200m a year our market cap will only be 200m? That doesn't make sense to me. The auctus note attributes 11p to 36-2 alone, 16-2 isn't currently priced in but I think it's fair to assume it would be similar. Just those two wells alone could be worth 22p a share to us once producing, plus our current 6p which really just covers the Williston assets as it stands. Happy to be corrected, but do not see the logic?

Agree 25-30p is on the Conservative side if we reach CH's 5000boepd by end of 2023. That'll be in the region of 150-200m a year income for the company. Really our market cap should be 500m plus by then.

If a buyout does occur, I think it more likely to be from a mid to larger US oil and gas company. I think it was very telling that CH shared that Williams had purchased acreage and infrastructure in Utah. On our doorstep. Perhaps that's the kind of suitor CH wants to entertain should a buyout be on the cards. I'd like a buyout personally, but I'd also be happy to see us become a dividend paying midcap. We shall see!

Better. I Also stand to make a small fortune. The difference in our opinion is that I don't think they have been fannying about. Due process has held us up massively. The change of plans was necessary. And if we'd gone with the crypto plan, not acquired all the extra infrastructure and acreage etc to get the paradox to production, I probably would have sold out by now because I genuinely think if we'd gone that route we'd be struggling to stay above 1p. As it happens we've gone a very different route than originally planned, and because of that the future is looking pretty Rosey, in hindsight the original plan would have doomed us. I agree its very annoying that it's meant more time, when i took my original postiion here i thought id 2-3 bag quickly, but I'm happy to wait for the pieces to come together in a more assured and certain way now. Your last bit about terribly run companies making you money is just dumb luck, you can't time the market, some get lucky, some loose everything. When investing, fundamentals are everything in my opinion. Hence my absolute confidence in the investment thesis here. Management, good, jurisdiction, safe, asset, good, funding, in place. What's not to like if you can wait it out?

Evan, you said Zephyr have done nothing all year so far....complete and utter BS. A huge amount achieved this year to enable us to move into production. It's your generalised unbalanced statements that make you look and sound effing stupid. I am just going to call you out each time until you start posting something worth reading. Anyone who wants to see my counter-argument to the same argument SCE2/Evab presents each time, please go through my posting history and find it. Can't be bothered to repeat it....yet again.

Oh look, Evan said something stupid again, what a surprise.

Good to see. A fair few people disagreed with me when I said we have pretty much been in a closed period all year, hence no director buying. Well you have it in black and white written in this RNS. The directors have not been buying because they have not been able to.

Hi Setanta, the powerline Road gas plant did need to be refurbished and tested, but all permits are in place for it so once refurbed and tested it can be utilised.. The refurbishment could have been taking place for some time now as we acquired it late august/early September from memory.

Not sure I entirely agree that the board is lacking an oil and gas expert, yes Colin's background is in finance, but Rick Grant has a long proven track record in the oil and gas industry.

Something nobody seemed to pick up on posted below by Sparmada, flaring at the powerline Road gas plant? That could be pretty big news if we have connected up the gathering line. Can anyone else confirm? I'm wondering if they will release the choke entirely during this test of 16-2 to get a real understanding of maximum output and not just in theory.

Tim Adams ran the article by CH, he was less than impressed and thought the article to be amateurish, poorly researched on company detail and management.

I agree. We need more institutions involved. I'm hoping we start to see them arrive during or after production testing of 16-2 and 36-2 has been completed and we are moving toward production. CH has been fairly Conservative in his goal of 5000boepd by year end 2023. That alone would mean somewhere in the region of 150m a year income.

More generalised rubbish and sweeping statements from Evan. What a surprise.

One important clarification... we might try and get the word out to explain why they did not just allow RSOC to default and snatch for free...

In the US, if a leaseholder non consents on a well, they don’t lose their interest in their overall lease - they only lose the right to ownership in that one well. If RSOC non-consented on the 36-2, ZPHR would have 100% of that well only. And if the well is a success the asking price in the future to buy out their interest on the remaining leasehold would be substantially higher. In essence, ZPHR would be penalizing themselves in the future for any success now.

By buying out now (when they had leverage onside and a clock ticking) meant a much better deal for shareholders, especially given ZPHR would be funding 100% of the well regardless.

It also meant ZPHR could book reserves & resources immediately and on a highly accretive basis, rather than have partner drag in perpetuity.

sooooo .... all in all it was by far the right way to go, and will give much more optionality in the future should they wish to bring in a new partner (not that that's the plan right now!).

Absolutely blue rover. So much positive news to be taken into account. CH has put us in an incredibly strong position moving into 2023. Malcys 5 bagger is on the way. 5000boepd by end of 2023. That will do nicely.

Evan you pretty much have suggested in the past that we should just be able to magically extract oil from the ground. See your below post. Don't pretend you've ever presented a decent argument or a balanced view.

Evan. You lost last time you debated me, badly. You just make yourself look incredibly stupid. Your vapid nonsensical point of view is completely irrational. Improve your argument, back it up with facts, or shut up.

I suggest everyone ignore SCE2/Evan, only offers negative views and can't back anything they say up with evidence. The billboard fool.

Or perhaps legal litigation could have caused a long delay so the deal made was the path of least resistance?

The main takeaway for me is the production forecast including the paradox basin, 200% increase.

Saying that. We have known about the permit for a month but I do no know an exact date for when we applied for it to the BLM.