Zephyr Energy PLC Presentation & updated Paradox project financials (3156C)
June 18 2021 - 2:00AM
UK Regulatory
TIDMZPHR
RNS Number : 3156C
Zephyr Energy PLC
18 June 2021
18 June 2021
Zephyr Energy plc
(the "Company", "Zephyr" or the "Group")
Corporate Presentation and updated financials for Paradox
project
Zephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas
company focused on responsible resource development and
carbon-neutral operations, notifies that its presentation from last
night's Proactive Investors' One2One Virtual Forum is now available
on the Company's website www.zephyrplc.com .
The Company has also provided updated financial information on
its project in the Paradox Basin, Utah, United States of America
("U.S.") (the "Paradox" project) to reflect the current oil price
environment.
Zephyr is due to commence a drilling programme on the Paradox
project in July. The planned appraisal well, the State 16-2LN-CC
(the "lateral well), will target the Company's first production on
the Paradox project. Using a flat oil price of US$70 per barrel of
oil equivalent ("boe"), the Company estimates that the lateral well
has a 2C single-well net present value at a ten percent discount
rate ("NPV-10") of US$10.4 million. Using the same flat oil price
of US$70 per boe, the prime reservoir target on its leaseholding -
the Cane Creek reservoir - has estimated 2C resources with an
NPV-10 of US$225 million.
The above is based on metrics disclosed in the announcement on
29 March 2021 and is calculated in accordance with the Company's
Competent Persons Report prepared by Gaffney Cline & Associates
in June 2018.
Contacts:
Zephyr Energy plc Tel: +44 (0)20 7225
Colin Harrington (CEO) 4590
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328
Adviser 5656
Jeremy Porter / Liz Kirchner
Turner Pope Investments - Broker Tel: +44 (0)20 3657
James Pope / Andy Thacker 0050
Flagstaff Strategic and Investor Communications Tel: +44 (0) 20 7129
Tim Thompson / Mark Edwards / Fergus 1474
Mellon
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