Further Investment in Zenith Energy

RNS Number : 0607Q

Gunsynd PLC

24 November 2016

 

Gunsynd plc

("Gunsynd" or the "Company")

Further Investment in Zenith Energy

Gunsynd  Plc (AIM: GUN; ISDX: GUN) is pleased to announce that it has purchased a total of 731,000 shares in Zenith Energy Limited ("Zenith"), a junior oil and gas E&P company quoted on the Toronto Venture Exchange in Canada with an oil production company based in Azerbaijan. This represents approximately 1.14% of the outstanding number of shares of Zenith and the approximate consideration paid was £35,000.

On November 21 Zenith announced that the first two payments have been received for invoices generated for producing Ural crude oil from the Muradxanli-Zardab-Jafarli field in Azerbaijan during August and September 2016. The crude oil was sold to Azerbaijan's state oil company SOCAR.  These payments equate to approximately $360,000 US per month.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The directors of Gunsynd accept responsibility for this announcement.

For further information please contact:

Gunsynd plc:                                                                 [phone]

Hamish Harris

Donald Strang

Nominated Adviser/ISDX Corporate Adviser:             [phone]

Cairn Financial Advisers LLP                                       

James Caithie / Liam Murray

Peterhouse Corporate Finance (Joint Broker)               [phone] 

Lucy Williams

 

END

 

 

MSCBGBDBDSDBGLS