Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) is now counting down to the next important phase of operations at the Paradox project, in Utah, where drilling is expected to begin in mid-April.
The company, in a statement, said it is in the final stages of planning for the redrill of the State 36-2 well with insurance expected to cover a significant portion of the redrill costs.
Preparations at the well pad are now complete, allowing rig mobilisation.
A spudder rig is scheduled to arrive within the next two weeks, followed by the drilling rig in early April, it noted.
Zephyr added that it has secured vendor bids for nearly all remaining well services and has all necessary materials and regulatory approvals in place.
"We are looking forward to commencing drilling operations on the 36-2R well,” chief executive Colin Harrington said in a statement.
“After a highly intensive period of planning, preparation, and vendor selection, we are confident the next few months offer significant potential for the company and will keep the market updated as drilling commences and progresses."