Zephyr Energy up 8%; broker excited by Paradox Basin update

Zephyr Energy PLC’s (AIM:ZPHR, OTCQB:ZPHRF) upcoming drilling at the Paradox Basin could unlock substantial potential upside for the company, according to Panmure Liberum (PL).

The company plans to drill a 5,500-foot lateral section at its State 36-2 LNW-CC well, followed by acid stimulation and a flow test, with the operation estimated to cost $7 million.

Zephyr has secured non-dilutive funding from an industry partner, who will cover the cost of the drilling in exchange for a stake in this well, though the UK-listed oiler will retain operatorship and the majority of the economic benefits. The partner will have no interest in the broader Paradox acreage.

Click HERE to read the full article