Zenith Energy Ltd Workover of ROB-1, onshore Tunisia (7277O)
12 Octubre 2021 - 1:00AM
UK Regulatory
TIDMZEN
RNS Number : 7277O
Zenith Energy Ltd
12 October 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
October 12, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Workover of ROB-1, onshore Tunisia
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:
ZENA), the listed international energy production and development
company, is pleased to provide an update regarding the ongoing
workover of the Robbana-1 well ("ROB-1"), located in the Robbana
concession, onshore Tunisia.
Workover of ROB-1
Zenith is pleased to report that the workover of ROB-1 is
progressing successfully.
As last announced on September 6, 2021, ROB-1 has not undergone
any form of well intervention since 2012 and was producing at a
stabilised rate of approximately 20 bopd prior to the commencement
of workover operations.
The well completion string has been fully pulled out of the
wellbore, encountering approximately 200 hundred meters of paraffin
and wax deposits cleared by way of reverse circulation using diesel
fuel.
The Company will now proceed with bottom hole cleaning and
scraping of the casing to be followed by the installation of a new
tubing anchor and sucker rod pump supplied by Weatherford.
ROB-1 operations are expected to be concluded during the next 10
days.
In the event of a successful outcome, the Company is expecting a
new stabilised production rate in a range between approximately
60-80 bopd.
Andrea Cattaneo, Chief Executive Officer of Zenith,
commented:
"The team looks forward to successfully completing Zenith's
first well intervention in Tunisia. A projected increase of
approximately 40-60 barrels of oil per day will, in the current
high oil price environment, result in significant additional
revenue and associated profitability.
We are very pleased with our recent progress and expect to soon
be in a position to update shareholders on our other key
development milestones."
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 Tel: + 44 (0) 203 328 5656
Nick Athanas
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.
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END
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