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Curzon Energy exploring potential multi-TCF project in Texas

Curzon has signed an MoU with US-based Pared Energy, with the two exploring the possibility of financing and developing the project together

texas flag
The “exciting” project is located in south Texas

Curzon Energy Plc (LON:CZN) is to evaluate a “major onshore natural gas project” in Texas after signing a memorandum of understanding (MoU) with US-based Pared Energy.

The plan, if the pair decides they like it, is to jointly finance and develop the project, which Curzon said offers “multi-TCF (trillion cubic feet) potential”.

READ: Curzon names Scott kaintz as new CEO

London-listed Curzon added the potential terms and joint investment structure are currently under investigation.

“We are pleased to be working with Pared to evaluate an opportunity that offers participation in the development of a natural gas project in the South Texas region of the United States,” said chief executive Scott Kaintz.

“Pared's skills in identifying overlooked and often neglected reservoirs where modern horizontal drilling and multi-stage completion methods have yet to be deployed offers the chance to jointly build an exciting new gas project with the potential for scale and delivering attractive investor returns.”

He added: “The gas development project we are evaluating alongside Pared would complement our existing Coos Bay CBM assets with both near-term production and multi-TCF gas resource upside.”

Shares rose 5.4% to 3p in early deals on Wednesday.

Quick facts: Curzon Energy PLC

Price: 0.85 GBX

Market: LSE
Market Cap: £705.78 k


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