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Memery Crystal advise AIM-listed Zephyr Energy on a Placing to raise £2.5 million
At a glance
Memery Crystal is delighted to announce that it has advised the Rocky Mountain oil and gas company, Zephyr Energy, on a placing to raise £2.5 million before expenses.
The placing, which was oversubscribed, has been conducted with a range of new, existing and institutional investors and with Turner Pope Investments acting as broker for the company.
Zephyr Energy is a technology-led exploration and production company focused on responsible resource development.
The net proceeds of the fundraise will be used to fully finance the company’s maximum funding obligations for drilling the State 16-2 dual-use well on its acreage in the Paradox Basin, Utah as well as a number of other strategic ventures.
CEO, Nick Davis commented :“It was a pleasure to once again work with the Zephyr team. Having advised the company for many years on a number of placings, this is a very exciting time for Zephyr Energy with the upcoming spudding of the 16-2 in the Paradox Basin. We are continuing to be instructed on a number of placings in the natural resources sector which is both a testament to the Memery Crystal team and the strength of London as a natural home for world class natural resources companies. Long may it continue!”.
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