Zenith Energy Ltd Update on workover of ROB-1 (4044N)

TIDMZEN

RNS Number : 4044N

Zenith Energy Ltd

31 May 2022

May 31, 2022

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Update on workover of ROB-1

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international energy production and development company, is pleased to provide an update on operations in well ROB-1 ("ROB-1") of the Robbana concession (onshore Tunisia).

Zenith can confirm that Schlumberger logging operations performed in ROB-1 have evidenced major corrosion in the casing and a lack of cementing in the location of previous perforations performed in 1988 being the cause of water ingress in the wellbore.

To remedy the above, the Company has retrieved the old packer installed in ROB-1, and now successfully set a new packer supplied by Weatherford in ROB-1 at a higher depth.

The Company plans to start rigging down the workover unit today, with a view to running the recently acquired Weatherford sucker pump back into ROB-1 during the next 48-72 hours. Production from ROB-1 is planned to recommence on June 8, 2022, with stablished production expected to be achieved on or before June 18, 2022.

Further Information:

 
Zenith Energy Ltd 
                                     Tel: [phone] 
 Andrea Cattaneo, Chief Executive    E: [e-mail] 
 Officer 
Alternative Resource Capital 
 - Broker                            Tel: [phone] 
                                     Tel: + 44 (0) 207 186 9005 
 Alex Wood 
 Keith Dowsing 
 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Notes to Editors :

Zenith Energy Ltd. is an international oil, gas, and electricity production company, listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth Market of the Oslo Stock Exchange (OSE: ZENA).

Zenith's growth strategy is to successfully develop its existing portfolio of energy production assets in Italy and Africa, as well as to proactively identify and complete any additional value-accretive development opportunities in these regions.

Follow us on LinkedIn: https://www.linkedin.com/company/zenith-energy-limited/

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May 31, 2022 05:55 ET (09:55 GMT)