Zephyr Energy PLC - Paradox Acreage Chosen for Stratigraphic Well
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(the "Company" or "Zephyr")
Zephyr's Paradox Acreage Chosen for Stratigraphic Well
funded by the
'Research focused well expected to be spudded by year end'
As referred to in previous announcements, Zephyr has been working with a project team led by the
As part of this study, the EGI and UGS are planning to drill a vertical stratigraphic test well to gather data to improve the understanding of the
Over a period of several months, the project team has analysed multiple potential well locations across the
It is proposed that the test well will be spudded before the end of this year and be funded by the existing
The spudding of this test well would provide multiple benefits to Zephyr - not only will the Company be able to utilise valuable data acquired from the test well, but Zephyr believes that data gained from the well would be highly beneficial to the Company's continuing farm-in and institutional funding discussions regarding its Paradox acreage.
Zephyr looks forward to providing additional updates over the next month as the project progresses.
"The spudding of this test well will be a significant milestone for Zephyr, and the data gained will be of fundamental importance as we move forward with farm-in discussions for our Paradox project.
I would like to thank the
In addition to progressing our
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