According to a statement released on Tuesday, Zephyr Energy is not in the process of or planning to undertake an equity fundraise.
Zephyr has released a statement clearly designed to stem the drop in shares, which have lost around 40% of their value in recent weeks.
The company has a portfolio of producing oil assets in North America and is also undergoing exploration activities targeting both oil and helium.
In a recent update on production activities at their non-operated assets in Williston Basin, North Dakota, Zephyr announced increasing production and looked forward to reporting revenues to investors.
“We look forward to reporting H1 2024 sales, revenues and income figures when our interim statements are published, at which point full non-operated sales information will have been received from our operating partners,” said Colin Harrington, Chief Executive of Zephyr.