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On September 17, 2024, Zephyr Energy plc responded to market speculation regarding an equity fundraise. The company confirmed it has not been undertaking nor is it intending to undertake an equity fundraise. Zephyr Energy plc also stated it knows of no notifiable reason for its recent material share price movement.
| Date | 17 Sept 2024 |
| Time | 07:00:09 |
| Category | Corporate updates |
| ID | 4807E |
17 September 2024
Zephyr Energy plc
("Zephyr" or the "Company")
Response to market speculation
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, notes recent market speculation that the Company is in the process of, or planning for, an equity fundraise. The Company confirms that it has not been undertaking nor is it intending to undertake an equity fundraise, and that it knows of no notifiable reason for the Company's recent material share price movement.
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Contacts
Zephyr Energy plc Colin Harrington (CEO) Chris Eadie (Group Finance Director and Company Secretary)
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Tel: +44 (0)20 7225 4590 |
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Allenby Capital Limited - AIM Nominated Adviser Jeremy Porter / Vivek Bhardwaj
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Tel: +44 (0)20 3328 5656
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Turner Pope Investments - Joint-Broker James Pope / Andy Thacker
Panmure Liberum Limited - Joint-Broker Mark Murphy / Kieron Hodgson / James Sinclair-Ford
Celicourt Communications - PR Mark Antelme / Felicity Winkles / Ali AlQahtani |
Tel: +44 (0)20 3657 0050
Tel: +44 (0) 20 7886 2500
Tel: +44 (0) 20 7770 6424 |
Notes to Editors
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and gas company focused on responsible resource development from carbon-neutral operations in the Rocky Mountain region of the United States. The Company's mission is rooted in two core values: to be responsible stewards of its investors' capital, and to be responsible stewards of the environment in which it works.
Zephyr's flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah, 25,000 acres of which has been assessed to hold, net to Zephyr, 2P reserves of 2.6 million barrels of oil equivalent ("mmboe"), 2C resources of 34 mmboe and 2U resources 270 mmboe.
In addition to its operated assets, the Company owns working interests in a broad portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana. Cash flow from the Williston production will be used to fund the planned Paradox Basin development. In addition, the Board will consider further opportunistic value-accretive acquisitions.