Zenith Energy Ltd Director/PDMR Shareholding (6315B)

TIDMZEN

RNS Number : 6315B

Zenith Energy Ltd

24 September 2018

September 24, 2018

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this announcement via a regulatory information service ("RIS"), the inside information contained in this document is now considered to be in the public domain.

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Director/ PDMR Shareholding

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that he has purchased a total of 3,440,000 common shares of no par value ("Common Shares") in the capital of the Company at a total average price of GBP0.0339.

Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 13,926,992 Common Shares in the capital of the Company, representing 6.51 per cent of the total issued and outstanding common share capital of the Company. As announced on December 15, 2017, Mr. Cattaneo is indirectly interested in a total of 1,250,000 Common Shares, today representing 0.58 per cent of the Company's issued share capital.

For further information please contact:

Zenith Energy Ltd.

Andrea Cattaneo

Chief Executive Officer

E-mail: [e-mail]

Tel: [phone]

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon

Kate Rogucheva

Tel: [phone]

Daniel Stewart & Company Plc - (Joint Broker)

Robert Emmet- Corporate Broking

Nikhil Varghese- Corporate Finance

Tel: + 44 (0) 207 776 6550

Optiva Securities - (Joint Broker)

Christian Dennis

Tel: + 44 (0) 203 137 1903

Allenby Capital Limited - (Financial Adviser)

Nick Harriss

Nick Athanas

Tel: + 44 (0) 203 328 5656

Notes to Editors:

Zenith Energy Ltd. is an international oil and gas production company, dual listed on the TSX Venture Exchange and London Stock Exchange.

The Company operates the largest onshore oilfield in Azerbaijan following the signing of a 25-year REDPSA, (Rehabilitation, Exploration, Development and Production Sharing Agreement), with SOCAR, State Oil Company of the Azerbaijan Republic, in 2016.

The Company's primary focus is the development of its Azerbaijan operations by leveraging its technical expertise and financial resources to maximise low-cost oil production via a systematic field rehabilitation programme intended to achieve significantly increased revenue. Zenith also operates, or has working interests in, a number of natural gas production concessions in Italy. The Company's Italian operations produce natural gas, natural gas condensate and electricity.

Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector. The Company's Board of Directors and senior management team have the experience and technical expertise to develop the Company successfully.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
 a)    Name                              Andrea Cattaneo 
      --------------------------------  --------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------- 
 a)    Position/status                   Chief Executive Officer 
                                          & President 
      --------------------------------  --------------------------- 
 b)    Initial notification/Amendment    Initial Notification 
      --------------------------------  --------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, 
        auctioneer or auction monitor 
      ------------------------------------------------------------- 
 a)    Name                              Zenith Energy Ltd. 
      --------------------------------  --------------------------- 
 b)    LEI                               213800AYTYOYD61S4569 
      --------------------------------  --------------------------- 
 4     Details of the transaction(s): section 
        to be repeated for (i) each type of instrument; 
        (ii) each type of transaction; (iii) 
        each date; and (iv) each place where 
        transactions have been conducted 
      ------------------------------------------------------------- 
 a)    Description of the                Common Shares 
        financial instrument, 
        type of instrument 
      --------------------------------  --------------------------- 
       Identification code               CA98936C1068 
      --------------------------------  --------------------------- 
 b)    Nature of the transaction         Purchase of Common 
                                          Shares 
      --------------------------------  --------------------------- 
 c)    Price(s) and volumes(s)           Price(s)       Volume(s) 
      --------------------------------  -------------  ------------ 
                                            GBP0.0338        90,000 
  ---------------------------------------------------  ------------ 
 d)    Aggregated information 
      -----------------------------------------------  ------------ 
  Aggregated volume 
 -----------------------------------------------  ----------------- 
  Aggregated price 
 -----------------------------------------------  ----------------- 
 e)    Date of the transaction(s)         September 19, 2018 
      --------------------------------  --------------------------- 
 f)    Place of the transaction          London Stock Exchange 
      --------------------------------  --------------------------- 
 
 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
 a)    Name                              Andrea Cattaneo 
      --------------------------------  -------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------ 
 a)    Position/status                   Chief Executive Officer 
                                          & President 
      --------------------------------  -------------------------- 
 b)    Initial notification/Amendment    Initial Notification 
      --------------------------------  -------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, 
        auctioneer or auction monitor 
      ------------------------------------------------------------ 
 a)    Name                              Zenith Energy Ltd. 
      --------------------------------  -------------------------- 
 b)    LEI                               213800AYTYOYD61S4569 
      --------------------------------  -------------------------- 
 4     Details of the transaction(s): section 
        to be repeated for (i) each type of instrument; 
        (ii) each type of transaction; (iii) 
        each date; and (iv) each place where 
        transactions have been conducted 
      ------------------------------------------------------------ 
 a)    Description of the                Common Shares 
        financial instrument, 
        type of instrument 
      --------------------------------  -------------------------- 
       Identification code               CA98936C1068 
      --------------------------------  -------------------------- 
 b)    Nature of the transaction         Purchase of Common 
                                          Shares 
      --------------------------------  -------------------------- 
 c)    Price(s) and volumes(s)           Price(s)      Volume(s) 
      --------------------------------  ------------  ------------ 
                                           GBP0.0342        50,000 
 -------------------------------------  ------------  ------------ 
                                           GBP0.0348       300,000 
 -------------------------------------  ------------  ------------ 
 d)    Aggregated information 
      --------------------------------  -------------------------- 
  Aggregated volume                      350,000 
 -------------------------------------  -------------------------- 
  Aggregated price                       GBP0.0347 
 -------------------------------------  -------------------------- 
 e)    Date of the transaction(s)         September 20, 2018 
      --------------------------------  -------------------------- 
 f)    Place of the transaction          London Stock Exchange 
      --------------------------------  -------------------------- 
 
 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
 a)    Name                              Andrea Cattaneo 
      --------------------------------  -------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------ 
 a)    Position/status                   Chief Executive Officer 
                                          & President 
      --------------------------------  -------------------------- 
 b)    Initial notification/Amendment    Initial Notification 
      --------------------------------  -------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, 
        auctioneer or auction monitor 
      ------------------------------------------------------------ 
 a)    Name                              Zenith Energy Ltd. 
      --------------------------------  -------------------------- 
 b)    LEI                               213800AYTYOYD61S4569 

      --------------------------------  -------------------------- 
 4     Details of the transaction(s): section 
        to be repeated for (i) each type of instrument; 
        (ii) each type of transaction; (iii) 
        each date; and (iv) each place where 
        transactions have been conducted 
      ------------------------------------------------------------ 
 a)    Description of the                Common Shares 
        financial instrument, 
        type of instrument 
      --------------------------------  -------------------------- 
       Identification code               CA98936C1068 
      --------------------------------  -------------------------- 
 b)    Nature of the transaction         Purchase of Common 
                                          Shares 
      --------------------------------  -------------------------- 
 c)    Price(s) and volumes(s)           Price(s)      Volume(s) 
                                        ------------  ------------ 
                                           GBP0.0338     1,000,000 
                                        ------------  ------------ 
                                           GBP0.0338     2,000,000 
                                        ------------  ------------ 
 d)    Aggregated information 
      --------------------------------  -------------------------- 
  Aggregated volume                       3,000,000 
 -------------------------------------  -------------------------- 
  Aggregated price                       GBP0.0338 
 -------------------------------------  -------------------------- 
 e)    Date of the transaction(s)         September 21, 2018 
      --------------------------------  -------------------------- 
 f)    Place of the transaction          London Stock Exchange 
      --------------------------------  -------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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September 24, 2018 02:01 ET (06:01 GMT)