Last checked at 10 Jul 2023 08:15
July 10, 2023
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Conservative seizure of ETAP bank account
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, is pleased to announce that it has successfully obtained a 'conservative seizure' for an amount equivalent to approximately US$6.5 million deposited in a bank account in Switzerland under the name of ETAP, Entreprise Tunisienne d'Activités Pétrolières, the national oil company of the Republic of Tunisia (the "Conservative Seizure").
The Conservative Seizure has been undertaken to avoid the risk of funds being dissipated or diverted while legal proceedings are ongoing.
On June 7, 2023, the Company announced that its subsidiaries had initiated various legal proceedings against the Republic of Tunisia, with a total cumulative claimed amount of at least US$48 million.
Zenith will provide further updates as appropriate in accordance with developments.
Further Information:
Zenith Energy Ltd Andrea Cattaneo, Chief Executive Officer |
Tel: +1 (587) 315 1279 E: info@zenithenergy.ca |
BlytheRay - Financial PR/IR Tim Blythe, Megan Ray, Matt Bowld
| Tel: +44 207 138 3204 E: zenith@blytheray.com
|
Allenby Capital Limited - Financial Adviser Nick Harriss
Daniel Dearden-Williams | Tel: + 44 (0) 203 328 5656 |
Miriad Limited - Media Enquiries Zak Mir | Tel: +44 7867527659 E: zak@zakmir.com |
Notes to Editors:
Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in Africa, the Middle East and Europe, including electricity generation in Italy. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).
Zenith's strategic focus is on pursuing development opportunities through the development of proven revenue generating energy production assets, as well as low-risk exploration activities in assets with existing production.
For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd
LinkedIn: https://bit.ly/3A5PRJb
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.