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Zephyr Energy ( (GB:ZPHR) ) has shared an update.
Zephyr Energy PLC has successfully raised £10.5 million through an oversubscribed equity fundraising, which includes a £9.8 million placing and a £0.7 million director subscription. The funds will support the company’s growth initiatives, including the development of the Paradox project and expansion in the Williston Basin. Recent achievements, such as a successful production test on the State 36-2R well and a US$100 million commitment from a major U.S. investor, position Zephyr for accelerated growth. The company plans to utilize these funds to enhance production, secure strategic partnerships, and explore new opportunities in gas sales, potentially involving cryptocurrency mining ventures.
The most recent analyst rating on (GB:ZPHR) stock is a Buy with a £0.13 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 company operating in the energy sector, primarily focusing on oil and gas exploration and production. The company is involved in projects within the United States, particularly in the Paradox Basin and the Williston Basin, aiming to leverage its expertise and strategic partnerships to enhance production and returns.
Average Trading Volume: 4,738,929
Technical Sentiment Signal: Hold
Current Market Cap: £65.65M
For detailed information about ZPHR stock, go to TipRanks’ Stock Analysis page.