Business
Acquisition of additional acreage & divestment
Zephyr Energy plc has significantly expanded its operated land position in the Paradox Basin, Utah, by acquiring an additional 27,000 acres, doubling the footprint around its White Sands Unit and increasing its total operated acreage to approximately 70,000 acres. This acquisition, funded by existing cash resources, offers potential for helium exploration and development below the Paradox Formation and can be integrated with existing infrastructure. Concurrently, the company has completed the divestment of undeveloped acreage in the Powder River Basin, Wyoming, receiving net proceeds of approximately US$2.2 million. Disclaimer*
About this update from Zephyr Energy Plc
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain. 26 June 2026 Zephyr Energy plc ("Zephyr" or the "Company") Acquisition of additional acreage in the Paradox Basin; Completion of undeveloped acreage divestments Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is pleased to announce a step-change increase in its operated land position in the Paradox Basin, Utah, U.S. (the "Paradox project") through the successful acquisition of an additional 27,000 acres under Federal and state leases in Utah (the "new acreage"). This substantial addition of new, undeveloped acreage offers multiple benefits: · A doubling of the acreage footprint around Zephyr's White Sands Unit (the "WSU") in the Paradox project, and a significant expansion of the Company's access to the proven Cane Creek reservoir and the greater Paradox Formation oil and natural gas play. o Further exploration and development potential for helium also exists below the Paradox Formation across the newly acquired acreage. · The new acreage is a largely contiguous position just to the south and west of the WSU, which will be beneficial for future development drilling. · Based on Zephyr management's regional geological evaluation, the new acreage is expected to have similar Paradox Formation reservoir conditions to those found within the WSU. · The potential to be developed by bolting onto Zephyr's existing and scheduled WSU infrastructure. Circa 24,000 acres of the new acreage was acquired through a U.S. Bureau of Land Management ("BLM") competitive lease sale, with the remainder obtained through a targeted direct negotiation with the Utah Trust Lands Administration (the "TLA"). The BLM leases have a primary lease term of ten years. The TLA primary lease terms are five years. The acquisition costs of the new acreage were paid from the Company's existing cash resources. There is potential to unitise the new acreage by forming new Federal units (as was performed at the WSU) or by expanding the WSU, should that be considered the optimal operational path (and subjec...