Zenith Energy Ltd - Pre-qualification in 2020 Marginal Field Bid Round
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")
As announced on
Participation in the 2020 Bid Round entails a process commencing with the achievement of pre-qualification by companies deemed to have the necessary technical and financial capabilities to participate and duly registered in
"We are very pleased to have successfully pre-qualified for the 2020 Bid Round with our Nigerian partner. This Bid Round represents an exceptionally rare opportunity for Zenith to acquire at highly advantageous terms, a large, underdeveloped, near-term production asset. This is especially the case in the current low oil price environment.
Further, the near-term production potential of certain assets is expected to facilitate the achievement of financing agreements to support the required acquisition and development costs necessary to restore commercial production from these assets.
I look forward with great enthusiasm to further progressing this opportunity."
| || |
| || |
Tel: +1 (587) 315 9031
Allenby Capital Limited - Financial Adviser & Broker
| || |
Tel: + 44 (0) 203 328 5656
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
Quick facts: Zenith Energy Ltd
Market Cap: £4.32 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE