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Zephyr Energy PLC - Oil & gas exploration and development in US Rocky Mountains - Signs contract with CWC Ironhand Drilling for its Ironhand Rig 118. Will be used to drill the 36-2 LNW-CC well at Zephyr's project in the Paradox Basin, Utah. The rig will mobilise to site shortly. Zephyr expects the well to spud in the second half of November, and intends to set the conductor casing ahead of the rig's arrival.
Chief Executive Colin Harrington says: "Following the recent final permit award, Zephyr's operational team moved quickly to secure the rig contract with CWC. We are pleased with the operational momentum and look forward to getting the drilling campaign underway this month."
Current stock price: 5.60 pence, up 5.7% on Tuesday
12-month change: down 13%
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