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Zephyr Energy Share Price Rallied 12.4% as It Gets Closer to Production at Paradox Basin.

Updated: 15 Oct 2021

Zephyr Energy PLC (LON: ZPHR) share price spiked 12.37% after revealing that it was ready to start drilling operations at its State 16-2LN-CC well in the Rocky Mountains on Monday 18 October 2021. 

The energy company told investors that it had mobilised all the necessary materials and equipment to start hydraulic stimulation, including water, water tanks and proppant materials, to kickstart the process.

Zephyr expects to complete well in less than one week, after which it plans to start production testing.

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Colin Harrington, Zephyr Energy’s CEO, said: “In spite of the significant supply-chain and weather issues impacting our industry, I'm delighted that we're ready to commence completion operations in the manner we expected,”

Last night, Zephyr just won the “Best Performing Share Award” at the 2021 AIM Awards event. 

Harrington explained that:  “While I'm sorry I could not attend the event in person and am proud of what we've achieved over the past twelve months, I want to reiterate that my focus remains one hundred per cent on our current operations and future performance”.

From a technical perspective, Zephyr shares just broke above a crucial resistance zone and are about to retest their recent all-time highs around the 7.9p level. However, I expect the shares to retest the resistance turned support level before a move higher.

The oil company’s fundamentals appear pretty solid given that it has recently made further acquisitions in the Williston basin and has initiated carbon-neutral operations, which should significantly apply to investors over the long term.

I am not looking for buying opportunities in Zephyr energy at current prices. However, I’m interested in buying at the 6.40p resistance level if we get a pullback.  

*This is not investment advice. Always do your due diligence before making investment decisions.

Zephyr Energy share price.

IG chart of Zephyr share price 15-10-2021

Zephyr Energy shares spiked up 12.37% to trade at 7.81p, rising from Thursday’s closing price of 6.95p. 

Should you invest in Zephyr Energy shares?

Zephyr Energy shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Omega shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

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