Zenith Energy Ltd Potential Private Placement in Norway (4447Q)

TIDMZEN

RNS Number : 4447Q

Zenith Energy Ltd

18 October 2019

October 18, 2019

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")

Potential Private Placement in Norway

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company announces that it plans to complete a private placement in Norway at a price NOK 0.35 per Zenith common share.

The potential transaction is subject to the approval of the TSX Venture Exchange and of the Oslo Stock Exchange.

The Company will provide further information to the market as appropriate.

Further Information:

 
  Zenith Energy Ltd 
 Andrea Cattaneo, Chief Executive    Tel: [phone] 
  Officer                             9031 
                                    ----------------------------- 
                                     E-mail: [e-mail] 
                                    ----------------------------- 
 
 Peterhouse Capital - Joint Broker   Tel: + 44 (0) 207 
                                      469 0930 
                                    ----------------------------- 
 Lucy Williams 
                                    ----------------------------- 
 Charles Goodfellow 
                                    ----------------------------- 
 
 Novum Securities Limited - Joint    Tel: + 44 (0) 207 
  Broker                              399 9400 
                                    ----------------------------- 
 Charlie Brook-Partridge 
                                    ----------------------------- 
 Hugh McAlister 
                                    ----------------------------- 
 
 IFC Advisory Limited - Financial    Tel: + 44 (0) 203 
  PR & IR                             934 6630 
                                    ----------------------------- 
 Graham Herring 
                                    ----------------------------- 
 Zach Cohen 
                                    ----------------------------- 
 

Notes to Editors:

Zenith Energy Ltd. is an international oil and gas production company, listed on the TSX Venture Exchange (TSX.V:ZEE) and London Stock Exchange (LSE:ZEN). In addition, the Company's common share capital was admitted to trading on the Merkur Market of the Oslo Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a multilateral trading facility owned and operated by the Oslo Børs.

The Company was assigned a medium to long-term issuer credit rating of "B+ with Positive Outlook" on October 9, 2019 by Arc Ratings, S.A.

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 Republic of Azerbaijan, 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, 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.

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

MSCLLFVEIRLTLIA

(END) Dow Jones Newswires

October 18, 2019 11:38 ET (15:38 GMT)