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Rig contract, mobilisation, and also let's not forget 16-2 coming back online mid to late November. Finally it's our month and the news flow can commence. Doubt we will see many weeks without at least 1 rns from now until completion!

"We are delighted to have cleared the final regulatory hurdle for the spud of the 36-2 LNW-CC well and are close to finalising the rig contract.”

GLA
CHAIN

Finally! Fantastic news. Hopefully hear of a rig contract shortly, and then the rescheduled webinar.

If the the permits arrive in the next week, and we are correct in our guess that a rig contract is all but agreed then we very well could still get most of the way to getting 36-2 done by Xmas. 16-2 should be back online in rhe next couple of weeks. Mid to late November was stated. 36-3 probably won't be until early next year now but we should have the permit for that too. Who knows it could be drilled in unison? And the kirkwood operated well could also begin anytime, don't know how far along they are with permits etc. So we can still expect 3 wells, I'd guesstimate in the next 3-months. And 16-2. Just deeply frustrating waiting for these permits to land.

Hopefully this week Bubbles. If I were CH I'd be phoning the moab office of the BLM everyday for an update on permits, crud service!

Agree SCE2! Hopefully next week we get our permits and rig contract. Then CH can answer all of out questions at the re-scheduled webinar.

He also didn't mention how much it would cost, wo 50 percent of nothing at the moment. I am confident the Williston will pay for it. I think you are filling in blanks and catastrophisizing. As you say, time will tell. I'll try not to gloat to much when I'm proved right ;)

Raises Can Happen. Do happen. But rarely to companies like ours with a highly profitable revenue stream, why on earth would we go to the market for funding when we have a self created funding scheme already in place. The literal point of doing this was to stop the need for raises and dilution. Moving on CH already stated his reasoning for the relationship with Panmure Gordon, to facilitate better relationships with their US based clients, namely big II's. I wonder how many aim listes companies PG represent? The fact that we have such a big mainstream broker on board is a testament to the investment opportunity here. As I have repeatedly said I dont think big institutions will join the share register immediately, but I do think they will begin to join once we have drilled and proven another well, queue 36-2. And perhaps have 16-2 up and running aswell. If the paradox really is to be the next unconventional oil and gas play we need more wells drilled, production and a nice juicy updated CPR. Proof will be in the drilling.

We can agree on that SCE2

Setanta...have you forgotten the williston basin? It's profits from that which enable us to explore the paradox. The point of the original raise was to get funds to purchase the williston...so we would be self sufficient. Which we are. The crypto mine was to be funded from that before we decided against it, we had no problem with sourcing our own cash at 2 million dollars. We've just purchased a gas processing plant and further acreage with Williston procedes. Speaking of which, our next report will be out in the next few weeks showing our profit and further proving my point.

I still maintain we have no need to raise, CH has said so himself, talk of a raise at this point is FUD IMHO.

I just think those buying at the moment don't want to pay more than 6p, so are waiting for sellers to knock it down a little. I think on news, if new investors think they can spy 8,10,12p etc in the not to distant they won't mind paying 6-7p and we will move up another level. With big volume we may even spike up to 8p plus but I'd imagine we will find a new baseline sp around 7p until we've actually had drilling success. Look at how we were pegged at 4.2p to 4.8p for ages, its because new investors didn't want to pay more than that until further reassurance of the companies trajectory was provided. Buyers vs sellers IMHO and we don't have enough buying action to drive us up just yet. But we will soon, I have no doubt.

I don't subscribe to that school of thought. But it you are indeed correct Tucker/Setanta, then I'd expect Panmure to well and truly let the breaks off when permits arrive, rig contract signed etc.

What makes you say that Tucker? Have you got l2 access?

It's got to be imminently Northern. CH expected to have them prior to this Tuesday just gone. Reading between the lines it would seem a rig contract is all but agreed too. We just need the BLM to pull their ruddy fingers out so we can get drilling!

I liked the idea when it made some sense originally IG, but as soon as crypto took a tumble it became pretty redundant. It would have enabled us to run a very restricted test, we could have perhaps opened it up more with more modules, or the mix could have changed to more liquids allowing us to lessen choke. Either way, we still wouldn't be in anyway near as good a position as we are now. The gas processing plant and 21 mile of pipe is an absolute game changer for 16-2 and all subsequent wells that can take advantage of the infrastructure.

Agree. In the past tense, they were the plans Colin laid out. But then, a much better plan, that will be far better for the company and its shareholders came to light, that would require more time but ultimately fulfill all of our goals.

I'd completely understand and share your frustration if we had not changed plan. Because we'd be sat on a barely profitable crypto mine, with 16-2 fully choked and still no viable way of selling oil and gas until the dominion tie in occurs, which could be anytime next year. Oh and 2 million out of pocket for the pleasure. We'd likely have got our permit for 36-2, but without the change of plan we'd still have no way of tieing it into infrastructure, so we'd be sat on it, again waiting for dominion.

Colins change of plans, means any success we now have we can capitalise on without having to wait for others to sell the product. Its worth the extra wait.

SCE I already posted apologising for my outburst that evening, scroll back, hence you remaining unfiltered. I engage with you because you make statements and don't back them up with facts, what you say is often negative and misleading. You caveat it with saying you want the company to do well, but seem to have little to no faith that it will.

SCE that's nonsensical. You honestly think we should not have changed the plan? So we should have stuck to the crypto mine, not acquired the extra acreage, including the gas processing plant, be 2 million out of pocket in a crypto bear market, and still have no way to tie any of our new wells into infrastructure? If I am understanding you correctly, you clearly have no understanding of the position we were in prior to plans changing. Zephyr cannot help that the permits are taking longer than expected, that's the BLMs fault. We will get them. We will drill. And thanks to our change of plan we will sell oil and gas through our own infrastructure and not have to wait!

I hope you are right Tucker! I'd tend to agree considering CH thought he'd have them in hand already.

Good note. 26p core nav with 36-2 and 36-3.
Factor in the williston and the 50 owned kirkwood well, could be even higher!

IG, why do you think after mid terms out of interest? I note they are Tuesday 8th.

GLA
CHAIN