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Zephyr Energy 'fully financed' for drilling State 16-2 dual-use well in Paradox Basin after raise

Zephyr Energy's (LON:ZPHR) Colin Harrington talks to Proactive London about the recent placing and their near term strategy.

The company raised £2.25m at 0.55p to fully finance its maximum funding obligations for drilling the State 16-2 dual-use well on its acreage in the Paradox Basin, Utah.

Harrington also mentions the agreement with the University of Utah’s Energy & Geoscience Institute (EGI) to sanction and fund US$2 million towards the planned stratigraphic research well.

Quick facts: Zephyr Energy PLC

Price: 0.6 GBX

LSE:ZPHR
Market: LSE
Market Cap: £4.18 m
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