Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) chair Rick Grant has told investors he is expecting “a prolonged period of positive news flow”, as the company advances its assets in Utah and progresses its portfolio of production assets.
Grant’s comments come in a statement ahead of today’s AGM, taking place in London later today.
"Over the 2024 financial year, and in the period since, we have continued to deliver solid operational progress across both our operated and non-operated portfolios," he said.
"On our project in the Paradox Basin, Utah, we are at a pivotal stage.
“Following our successful recent drilling operation and production test, we've been able to advance the design, engineering and negotiations work needed to enable access to gas export markets through the nearby third-party pipeline.”
Grant also highlighted that Zephyr is progressing talks with potential industry and finance partners as part of a structured asset-level funding process.
If secured, such funding would accelerate drilling activity at the Paradox project.
He added: “We have strong momentum, a clear strategy, and the right resources in place to successfully deliver additional progress in the period ahead.
“We look forward to a prolonged period of positive news flow as we complete the proposed acquisition and move towards first production at the Paradox project."