Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has secured a $100 million investment to grow its non-operated oil and gas assets in the Williston Basin in North Dakota and Montana. The new partner will cover all drilling and completion costs through a new vehicle called Zephyr Hawk LLC. Zephyr says the deal will boost growth and cash flow without taking on extra risk.
Galileo Resources PLC (AIM:GLR) has signed a deal with Bronco Creek to explore its Ferber copper-gold project in Nevada. Bronco will run an early-stage programme and earn a 1% net smelter royalty, with the option to buy another 0.5% for $1 million. Galileo says Bronco’s local expertise will help drive exploration and unlock value from the US-based project.
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