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.