TIDMZEN

RNS Number : 1236U

Zenith Energy Ltd

01 December 2021

December 1, 2021

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Publication of Half-Year Results

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the Africa focused energy production and development company , is pleased to publish its consolidated half-yearly unaudited financial results for the six months ended September 30, 2021 (the "Interim Results").

The Interim Results will shortly be published on the Company's website ( www.zenithenergy.ca ) and can be viewed in full here:

http://www.rns-pdf.londonstockexchange.com/rns/1236U_1-2021-11-30.pdf

Highlights:

   -- The Group generated revenues from oil and natural gas of CAD$6,011k (2020 -- CAD$145k). 
 
   -- During the six months ended September 30, 2021, the Company produced 94,662 barrels of oil from its Tunisian 
      assets. 
 
   -- During the six months ended September 30, 2021, the Company sold 67,916 barrels of oil produced from its Tunisian 
      assets. 
 
   -- During the six months ended September 30, 2021, the Company sold 2,792 MWh of electricity produced from its 
      Italian assets. 
 
   -- During the six months ended September 30, 2021, the Company sold 4,742 mcf of natural gas produced from its 
      Italian assets. 

Change of Registered Office

The Company wishes to announce that it has changed its registered office to the following address:

Suite 2400

745 Thurlow Street

V6E 0C5

Vancouver, British Columbia, Canada

Total Voting Rights

The Company wishes to announce, in accordance with the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the following Total Voting Rights information :

 
 
   Class of share                   Total number     Number        Total number of voting 
                                    of shares        of voting     rights per class 
                                                     rights        of share 
                                                     per share 
 Common Shares in issue 
  and admitted to trading 
  on the Main Market of 
  the London Stock Exchange.       1,792,574,449        1                   1,792,574,449 
                                 ---------------  ------------  ------------------------- 
 Common Shares in issue 
  and admitted to trading 
  on the Euronext Growth 
  Market of the Oslo Børs     1,792,574,449        1                   1,792,574,449 
                                 ---------------  ------------  ------------------------- 
 

Luca Benedetto, Chief Financial Officer of Zenith, commented:

"We are pleased to publish our unaudited half-year results which provide clear evidence of the positive financial transformation the Company has undergone following its acquisition of a highly prospective oil and gas production and development portfolio in Tunisia comprised of the Robbana, El Bibane and Ezzaouia concessions.

The Company has significantly improved its balance sheet when compared to last year, when there was comparatively limited revenue generation. It is to be underlined that it has done so during a particularly challenging period for global economies caused by the ongoing COVID-19 pandemic, which has demonstrated the resilience of the management team in its uninterrupted travel to various jurisdictions across the African continent with the goal of successfully developing Zenith.

Zenith currently generates more revenue than at any prior stage in its history and it is our expectation that the next audited annual results will more comprehensively showcase the Company's very positive performance, which will be further strengthened by way of the recently announced acquisition of a 22.5% interest in the Sidi El Kilani concession from CNPC, as well as other potential near-term acquisitions in the Republic of the Congo and elsewhere.

I take the opportunity to thank shareholders for their commitment to the Company, and we look forward to providing further information on our progress in due course."

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Further Information:

 
 Zenith Energy Ltd                     Tel: +1 (587) 315 9031 
 
  Andrea Cattaneo, Chief Executive      E: info@zenithenergy.ca 
  Officer 
 Allenby Capital Limited - Financial   Tel: + 44 (0) 203 328 5656 
  Adviser & Broker 
 
  Nick Harriss 
  Nick Athanas 
                                      ------------------------------ 
 Celicourt Communications (Financial   Tel: +44 (0) 208 434 2643 
  PR)                                   E: zenithenergy@celicourt.uk 
 
  Mark Antelme 
  Jimmy Lea 
                                      ------------------------------ 
 

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 complete value-accretive hydrocarbon production opportunities in the oil & gas sector, specifically in Africa.

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END

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December 01, 2021 02:00 ET (07:00 GMT)

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