Zephyr Energy PLC Approvals granted to drill State 16-2LN-CC well (9188C)
24 6월 2021 - 3:00PM
UK Regulatory
TIDMZPHR
RNS Number : 9188C
Zephyr Energy PLC
24 June 2021
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
24 June 2021
Zephyr Energy plc
("Zephyr" or the "Company")
Grant of final approvals necessary to drill the State 16-2LN-CC
well
Zephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas
company focused on responsible resource development and
carbon-neutral operations , provides an update on its project in
the Paradox Basin, Utah, U.S.A (the "Paradox project") where the
Company is preparing to spud the State 16-2LN-CC appraisal well
(the "well"). The well will seek to target the Company's first
production on the Paradox project, and it is expected that drilling
operations will commence in July as previously forecast.
The Company is pleased to announce that it has received all
final approvals and permits required to proceed with the drilling
of the well. These approvals include surface rights and rights to
drill from the Utah School and Institutional Trust Lands
Administration ("SITLA"), approvals from the Bureau of Land
Management ("BLM"), and Application to Drill ("APD") approval from
the Utah Division of Oil, Gas and Mining ("DOGM"). In addition, the
Company has received all necessary consents from its joint-venture
partner on the Paradox project.
With all approvals and permits now in place, the Company is
working to finalise the project contracts needed to enable the
Company to meet its proposed timeline of a July spud date.
Colin Harrington, Zephyr's Chief Executive said "Securing all
approvals and consents needed to drill the State 16-2LN-CC is
another step in our efforts to unlock significant value from what
we believe is a project of substantial scale.
"I would like to thank all parties involved in this process,
especially our advisers and the dedicated staff at SITLA, DOGM and
the BLM. We are now well-positioned to finalise drilling
preparations and third-party service contracts in advance of the
proposed well spud next month."
For further information please visit https://www.zephyrplc.com/
or contact:
Zephyr Energy plc Tel: +44 (0)20 7225 4590
Colin Harrington (CEO)
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328 5656
Adviser
Jeremy Porter / Liz Kirchner
Turner Pope Investments - Broker Tel: +44 (0)20 3657 0050
James Pope / Andy Thacker
Flagstaff Strategic and Investor Communications
Tim Thompson / Mark Edwards / Fergus Tel: +44 (0) 20 7129
Mellon 1474
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END
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