IN BRIEF: Zenith Energy Pulls Out Of Coro Italian Portfolio Deal

Fri, 31st Jul 2020 22:07

Zenith Energy Ltd - Africa-focused oil & gas producer - By mutual agreement, has terminated the agreement to acquires Coro Energy PLC's entire portfolio of Italian natural gas assets. Reasons for this was negative profitability from the buy due to Covid-19, and Zenith's focus on Africa. In addition, has been awarded a loan facility for EUR300,000 from Italian government entity, which will go towards expansion in Africa.

Current stock price: 0.67 pence

Year-to-date change: down 65%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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