Response to market speculation

Zephyr Energy PLC

17 September 2024

 

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.

Contacts Zephyr Energy plc Colin Harrington (CEO) Chris Eadie (Group Finance Director and Company Secretary)	Tel: [phone]
Allenby Capital Limited - AIM Nominated Adviser Jeremy Porter / Vivek Bhardwaj	Tel: [phone]
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: [phone] Tel: [phone] Tel: [phone]

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. 

 

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