August 20, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Receipt of payment from SNPC subsidiary in Congo
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that one of its fully owned subsidiaries in the Republic of the Congo, Anglo African Oil & Gas Congo S.A.U. ("AAOG Congo"), has received a payment for an amount of approximately US$128,000, in respect of past oil production produced during the now expired Tilapia I licence by AAOG Congo, from Congolaise de Raffinage ("CORAF"), a subsidiary of the national oil company of the Republic of the Congo, Société Nationale des Pétroles du Congo ("SNPC").
The Company is pleased to have received this payment which it views as clear evidence of the Company's ability to successfully monetise receivables it is owed in Republic of the Congo.
Further Information:
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 9031
E-mail: info@zenithenergy.ca
Allenby Capital Limited - Financial Adviser & Broker
Nick Harriss
Nick Athanas Tel: + 44 (0) 203 328 5656
The information included in this announcement is defined as inside information pursuant to MAR article 7 and is publicly disclosed in accordance with MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. The announcement is made by the contact person.
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).
Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the oil & gas sector, specifically in Africa.