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The latest announcement is out from Zephyr Energy ( (GB:ZPHR) ).
Zephyr Energy plc announced a proposed fundraising effort to raise approximately £10 million through a placement of new ordinary shares and a Director Subscription. This capital will support the acquisition of well interests in the Rocky Mountain region and fund the company’s Paradox Basin project in Utah. The acquisition is expected to enhance Zephyr’s production capacity and strengthen its financial position, with anticipated operating income of US$4 million in the first year. This strategic move is aimed at bolstering Zephyr’s market presence and providing new drilling opportunities, potentially funded by a strategic partner.
The most recent analyst rating on (GB:ZPHR) stock is a Buy with a £0.14 price target. To see the full list of analyst forecasts on Zephyr Energy stock, see the GB:ZPHR Stock Forecast page.
More about Zephyr Energy
Zephyr Energy plc is a technology-led oil and gas company focused on responsible resource development in the Rocky Mountain region of the United States. The company operates a 46,000-acre leaseholding in the Paradox Basin, Utah, and holds working interests in a portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana. Zephyr’s mission emphasizes responsible stewardship of investor capital and environmental resources.
Average Trading Volume: 4,755,150
Technical Sentiment Signal: Hold
Current Market Cap: £66.53M
For a thorough assessment of ZPHR stock, go to TipRanks’ Stock Analysis page.