Zenith Energy Ltd - Calgary, Canada-based oil and gas company with assets in North Africa - Makes USD4.5 million from first Tunisian oil production sale of 68,000 barrels, during a high oil price period. Says it will reinvest funds in Tunisian exploration areas.
Chief Executive Andrea Cattaneo adds that Zenith "will apply the significant additional funding towards accelerating our planned field development rehabilitation and drilling activities in Robbana and El Bibane, as well as within the Ezzaouia concession following agreement with our partners, to achieve a maximisation of oil production in the near-term."
Current stock price: 0.95 pence, up 15% on Thursday afternoon
Year-to-date change: down 29%
By Scarlett Butler; scarlettbutler@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Zenith Energy (ZEN)