Zephyr Energy confirmed the receipt of $7.5m in funds to fully finance the drilling, completion, and production testing of the extended lateral on its State 36-2 LNW-CC-R well on Tuesday.
Source: Sharecast
The AIM-traded firm said the development followed its earlier announcement on 18 December.
Drilling operations were scheduled to begin in mid-January 2025, as previously outlined.
Zephyr said it would provide further updates on the project as progress was made.
At 1055 GMT, shares in Zephyr Energy were up 8.33% at 3.25p.
Reporting by Josh White for Sharecast.com.
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