Zenith Energy Ltd - oil & gas production company - Says its subsidiary Zenith Energy Netherlands BV has signed an extension agreement with KUFPEC (Tunisia) Ltd, a subsidiary of the State of Kuwait's national oil company, for the acquisition of the Sidi El Kilani oilfield. The new purchase completion date is June 30. The extension has been granted amid difficulties caused by the ongoing Covid-19 pandemic.
"The board is increasingly confident regarding Zenith Energy's establishment in Tunisia, where we are currently assessing certain additional oil production and development opportunities to further enrich our portfolio," says Chief Executive Andrea Cattaneo.
Current stock price: 0.97 pence, down 3.0% on Thursday
Year-to-date change: down 27%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Zenith Energy (ZEN)