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