Business
Acquisition of further Paradox Basin acreage
Zephyr Energy plc has announced an expansion of its operated acreage in the Paradox Basin, Utah, by acquiring an additional 2,294 acres of Utah Trust Lands Administration leases immediately north of its White Sands Unit. This acquisition, funded by existing cash resources, brings Zephyr's total operated gross acreage in the Paradox Basin to over 72,000 acres, with the majority held at a 100% working interest. The company also noted that it has nominated further leases for auction in September 2026, aiming to continue consolidating and increasing the attractiveness of its regional holdings. Disclaimer*
About this update from Zephyr Energy Plc
2 July 2026 Zephyr Energy plc ("Zephyr" or the "Company") Acquisition of further acreage in the Paradox Basin Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is pleased to announce a further increase in its operated land position in the Paradox Basin, Utah, U.S. (the "Paradox project") through the successful acquisition of an additional 2,294 acres of Utah Trust Lands Administration (the "TLA") leases. This new acquisition gives Zephyr an increased acreage footprint immediately to the north of its White Sands Unit (the "WSU") (see Figure 1). The acreage was nominated for auction by Zephyr and was acquired through a sealed-bid process conducted by the TLA. The related leases have a five-year primary term and a 16.67% lease royalty. The acquisition cost associated with the TLA leases was paid from the Company's existing cash resources. This latest acquisition follows the Company's recent acquisition of circa 27,000 acres, announced on 26 June 2026. Inclusive of the new acreage, the Company now operates more than 72,000 gross acres in the Paradox Basin, the majority in which the Company holds a 100% working interest. Colin Harrington, Zephyr's Chief Executive, said: "I am pleased with the successful outcome from the TLA auction, the results of which further enhance the scale of our Paradox project. With every acquisition of regional acreage, we consolidate and increase the attractiveness of our regional holdings. "We will continue to be opportunistic in building out a greater Paradox land position as we look to advance the substantial underlying value of our position in the northern Paradox Basin." Figure 1: Map showing Zephyr's Paradox project acreage with the new TLA acreage highlighted in brown. The Company's original acreage is highlighted in yellow, and the recently acquired acreage (as announced on 26 June 2026) is highlighted in green. The WSU is the yellow highlighted acreage surrounded by the black border. Zephyr has nominated a substantial number of additional leases to the north of the WSU, which are expected to be auctioned in September 2026. Contacts Zephyr Energy plc Colin Harrington (CEO) Chris Eadie (Group Finance Director and Company Secretary) Tel: +44 (0)20 3475 4389 Allenby Capital Limited - AIM Nominated Adviser Jere...