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Zephyr Energy Plans to Drill a Helium Well on the Salt Wash Field, Utah

Zephyr Energy is set to acquire 75% working interest in the Salt Wash Field, Utah, boosting its portfolio with proven oil, gas, and helium reserves near its Paradox project. The Salt Wash Field has historically produced 1.65mmbbl of oil and 11.7bcf of gas. The project forecasts a net helium resource potential of 0.07 to 0.19bcf in the Leadville Formation, with further un-risked prospective resources up to 0.66bcf. Zephyr estimates a NPV10 between US$58mm-US$120mm based on helium prices of US$650-750/mcf respectively. Zephyr had previously announced it is farming into the project with some US$600k paid to the leaseholder, and it has committed to spud a new well before the end of June.

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