Appointment of Director

RNS Number : 1507A

Zenith Energy Ltd

22 March 2017

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Appointment of Director

Calgary, Alberta, March 22, 2017, Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE), the dual listed international oil & gas production company, is pleased to announce the appointment of Mr. Saadallah Al-Fathi as a Non-Executive Director of the Company.

Mr. Saadallah Al-Fathi served as Head of the Energy Studies Department, Organization of Petroleum Exporting Countries (OPEC) in Vienna, Austria as well as OPEC Representative to the Executive Council of the World Energy Council and Member of its Studies and Developing Countries Committee. Following these high-profile institutional positions Mr. Al-Fathi has served as an advisor to several government and private entities as well as establishing himself as an award-winning oil and gas industry researcher and columnist.  Mr. Al-Fathi has authored a number of research papers on the oil & gas sector and was recently joint winner of the 2016 scientific research award of the Organization of the Arab Petroleum Exporting Countries.

The Company also announces that the arrangement with Spinnaker Management Resources Ltd. under which Mr. Andrew Morrison had been providing board advisory services to the Company since July 2016 has now ceased by mutual agreement and that Mr. Morrison will not join the Board of Directors as previously proposed.  Zenith thanks Mr. Morrison for his support during the admission process in London and wishes him well in his future business endeavors.

Andrea Cattaneo, CEO of Zenith, commented:

"I am very pleased to welcome Saadallah Al-Fathi to Zenith's Board of Directors.   The addition of someone of this calibre and experience evidences the ambition of the Company and further enhances the skillset of Zenith's Board. 

It is also worth noting that with today's announcement of Mr. Al- Fathi's appointment the Company has further enlarged its spectrum of cultural and linguistic diversity, with a total number of ten languages now spoken by Directors. This is a recognised strength of the Company's Board and gives Zenith an important advantage in its ability to connect and engage with the many diverse regions that offer oil & gas production opportunities.

The Company has arrived at a key juncture in its development with the transformational acquisition of the largest onshore field in Azerbaijan in partnership with SOCAR (State Oil Company of the Azerbaijan Republic). Whilst the rehabilitation and development of this field is Zenith's primary objective going forward, the Company is closely evaluating new opportunities for expansion.

Mr. Al-Fathi's considerable experience will play an important role as the Company pursues its production objectives.

On behalf of Zenith's Board of Directors I thank Mr. Morrison for his assistance and advice during our admission process to the London Stock Exchange. I wish him all the best for his other business activities and future projects."

For further information, please contact:

Zenith Energy Ltd.

José Ramón López-Portillo  

Chairman of the Board

Andrea Cattaneo

CEO & President

E-mail:     [e-mail]

Telephone:       [phone]

Telefax:            [phone]

Allenby Capital Limited - (Joint Broker)

Nick Harriss

Nick Athanas

Richard Short              

Telephone:  [phone] 

Optiva Securities  - (Joint Broker)

Christian Dennis

Telephone: [phone]

 

END

 

 

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