Zenith Energy Ltd - Payment to KUFPEC for Sidi El Kilani
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this announcement via a regulatory information service ("RIS"), the inside information contained in this document is now considered to be in the public domain.
("Zenith" or the "Company")
Payment to KUFPEC for
As publicly announced on
Under the terms of the conditional sale and purchase agreement ("SPA"), first announced to the market on
It is expected that the production revenue generated since the date of signing of the SPA will be sufficient to fully satisfy the second and final Consideration payment to be made by the Company to the Seller for the Tunisian Acquisition by
Completion of the Tunisian Acquisition remains conditional on approval being granted by the Comité Consultatif des Hydrocarbures of the
Zenith can confirm that it has initiated the necessary formalities in relation to the aforementioned approval process, and that a decision is expected in due course.
New corporate website and publication of 2020 Investor Presentation
Zenith is pleased to announce the release of a newly designed corporate website in reflection of its new geographic identity and strategic direction.
A 2020 Investor Presentation is available for download at: www.zenithenergy.ca
"We are delighted with the favourable terms Zenith has secured in relation to the Tunisian Acquisition and we look forward with enthusiasm to beginning activities at SLK in partnership with CNPC and the Tunisian state oil company, Entreprise Tunisienne d'Activités Pétrolières (ETAP).
The Company is also actively exploring additional onshore oil production opportunities in the
As is clear, we are systematically executing our development strategy in
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Tel: +1 (587) 315 9031
Notes to Editors:
Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically in
This information is provided by RNS, the news service of the
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