Zephyr Energy plc has entered into a non-binding Letter of Intent with Atlas Oil Company for a Prepaid Commodity Purchase Agreement, which will provide up to US$15 million in non-dilutive pre-production financing for the Paradox project. This funding will support infrastructure development, well workovers, and potentially larger gas processing facilities, and is not contingent on the timing of first gas production. Repayment will be made from future production sales proceeds, and the agreement does not involve the sale of new Zephyr equity or asset-level working interests. The closing of this proposed funding is expected in the third or early fourth quarter of 2026, subject to definitive agreements and due diligence.
