Appointment of Advisor for Development in Africa

RNS Number : 2173Z

Zenith Energy Ltd

09 January 2020

 

January 9, 2020

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Appointment of Advisor for Development in Africa

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce that it has engaged Mr. Bienvenu Briss Aleba as an advisor in view of its planned future activities in the Republic of the Congo.  

Mr. Aleba, a citizen of the Republic of the Congo, has worked at Congolaise de Raffinage ("CORAF"), the refinery subsidiary of the national oil company of the Republic of the Congo, Société Nationale des Pétroles du Congo ("SNPC") for the past nine years, where he currently holds the position of Deputy to the Head of the Audit Division and Internal Control. It is expected that Mr. Aleba will depart his current role with CORAF and join Zenith during the month of February 2020.

He holds a number of professional accreditations, primarily in exploratory drilling operations.

Andrea Cattaneo, Chief Executive Officer, commented:

"We are delighted to welcome Mr. Aleba as an advisor to Zenith for its business development activities in the Republic of the Congo.

In preparation for our planned operational activities in country we continue to enhance our expertise and knowledge of the region."

Further Information:

Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer	Tel: [phone]
	E-mail: [e-mail]
Peterhouse Capital - Joint Broker	Tel: + 44 (0) 20 7469 0930
Lucy Williams
Charles Goodfellow
Novum Securities Limited - Joint Broker	Tel: + 44 (0) 20 7399 9400
Charlie Brook-Partridge
Hugh McAlister
IFC Advisory Limited - Financial PR & IR	Tel: + 44 (0) 20 3934 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. On November 18, 2019, the Company was assigned a "B+" with Stable Outlook debt issuer credit rating by Rating-Agentur Expert RA.

The Company operates the largest onshore oilfield in Azerbaijan by cumulative acreage 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. 

 

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