Zenith Energy Ltd Completion of Handover & Receipt of Payment (0004R)
June 25 2020 - 2:30AM
UK Regulatory
TIDMZEN
RNS Number : 0004R
Zenith Energy Ltd
25 June 2020
June 25, 2020
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 ENERGY LTD.
("Zenith" or the "Company")
Completion of Handover & Receipt of Payment
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:
ZENA-ME), the listed international oil & gas production company
focused on pursuing African development opportunities, is pleased
to announce that the handover process (the "Handover") of the
Contract Rehabilitation Area ("CRA") to SOCAR in the Republic of
Azerbaijan has now been successfully concluded.
As a result of the Handover, Zenith has ceased all oil
production operations in Azerbaijan and all field production
personnel, approximately 170 employees, have been transferred to a
division of SOCAR.
Receipt of Payment
The Company is pleased to confirm that its Azerbaijan subsidiary
has recently received a payment for oil production of approximately
US$508,000 from SOCAR.
Further Information:
Zenith Energy Ltd.
Andrea Cattaneo, Chief Executive Tel: +1 (587) 315
Officer 9031
-----------------------------
E-mail: info@zenithenergy.ca
-----------------------------
Notes to Editors :
Zenith Energy Ltd. is an international oil and gas production
company, listed on the London Stock Exchange (LSE:ZEN) and the
Merkur Market of the Oslo Stock Exchange (ZENA:ME).
Zenith's development strategy is to identify and rapidly seize
value-accretive hydrocarbon production opportunities in the onshore
oil & gas sector, specifically in Africa. The Company's board
of directors and senior management team have the experience and
technical expertise to develop the Company successfully.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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