Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksZenith Energy Regulatory News (ZEN)

Share Price Information for Zenith Energy (ZEN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2.30
Bid: 2.20
Ask: 2.40
Change: 0.00 (0.00%)
Spread: 0.20 (9.091%)
Open: 2.30
High: 2.30
Low: 2.30
Prev. Close: 2.30
ZEN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Update on OML 141 RSC Option & Broker Appointment

2 Mar 2022 07:30

RNS Number : 3498D
Zenith Energy Ltd
02 March 2022
 

March 2, 2022

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Update on Option for OML 141 RSC and Appointment of Broker

Zenith Energy Ltd. ("Zenith" or the "Company") (LSEZEN; OSE: ZENA), the listed international energy production and development company, announces that it has elected to not renew the Option Agreement (the "Option") with Noble Hill-Network Limited ("NHNL"), first announced to the market on November 29, 2021, for the purchase of a 42% (forty-two percent) interest in the share capital of NHNL.

 

The Company remains of the view that the development of the North-West Corner of OML 141 in Nigeria has significant potential, and it shall look to revisit the opportunity once the ownership of NHNL is unequivocally confirmed by the Nigerian courts.

Appointment of Broker

The Company is pleased to announce the appointment of Alternative Resource Capital, a trading name of Shard Capital Partners LLP ("ARC"), as corporate broker to the Company on the London Stock Exchange with immediate effect. Allenby Capital will remain as Zenith's financial adviser.

 

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

 

"The Company's primary objective is the maximisation of its energy production and development operations across the portfolio in Tunisia and Italy, with the goal of further increasing our record revenue generation and profitability, as well successfully delivering on our growth ambitions in the Republic of the Congo.

 

Zenith's assessment of the opportunity presented by the acquisition of a 42% in NHNL, and by extension in the potentially highly productive Barracuda and Elepa South oilfields, remains fundamentally unchanged. However, in the interests of a clear strategic vision and the avoidance of protracted delays, we have decided to pause our involvement in this potential transaction until such time as clarity is definitively delivered in certain key areas.

 

The Company is pleased to welcome ARC as corporate broker to the Company, we are confident that their appointment will result in an increased ability by Zenith to attract long-term, institutional investors at a time of great promise for growing energy production and development companies."

 

 

 

Further Information: 

 

Zenith Energy Ltd Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 9031

E: info@zenithenergy.ca

Allenby Capital Limited - Financial AdviserNick Harriss

 

Nick Athanas

Tel: + 44 (0) 203 328 5656

Alternative Resource Capital - Broker Alex Wood

 

Keith Dowsing

 

Tel: +44 (0) 207 186 9004

 

 

Tel: + 44 (0) 207 186 9005

 

Celicourt Communications (Financial PR) Mark Antelme 

Jimmy Lea

Tel: +44 (0) 208 434 2643

E: zenithenergy@celicourt.uk

 

 

 

 

Notes to Editors          

Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).

Zenith's development strategy is to identify and rapidly complete value-accretive hydrocarbon production opportunities in the oil & gas sector, specifically in Africa.

Follow us on LinkedIn: https://www.linkedin.com/company/zenith-energy-limited/

 

 

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.

 

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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCGRGDXBDGDGDD
Date   Source Headline
11th Aug 20202:05 pmRNSSecond Price Monitoring Extn
11th Aug 20202:00 pmRNSPrice Monitoring Extension
10th Aug 20207:30 amRNSPreparations for Tilapia II Licence
7th Aug 202010:50 amRNSExtension of LOI
6th Aug 20206:09 pmRNSCompletion of Financing
31st Jul 20207:30 amRNSLoan Facility for African Development
31st Jul 20207:00 amRNSTermination of SPA with Coro Energy plc
20th Jul 20207:30 amRNSUpdate on Tilapia in the Republic of the Congo
13th Jul 20201:43 pmRNSHolding(s) in Company
10th Jul 20204:31 pmRNSCompletion of Financing
7th Jul 20207:30 amRNSJoint Venture Agreement for acquisition
30th Jun 20204:30 pmRNSPostponed publication of Year-End Results
30th Jun 20207:30 amRNSPayment of Interest on 8% 2021 Corporate Notes
25th Jun 20207:30 amRNSCompletion of Handover & Receipt of Payment
16th Jun 20207:30 amRNSParticipation in 2020 Marginal Field Bid Round
11th Jun 20207:30 amRNSPayment to KUFPEC for Sidi El Kilani
9th Jun 20206:00 pmRNSCompletion of Financing
29th May 202011:22 amRNSHolding(s) in Company
28th May 20207:00 amRNSDelisting from TSX-V
5th May 202011:20 amRNSCompletion of Tilapia acquisition
4th May 202012:49 pmRNSPassing of Resolution at AAOG GM for Tilapia
30th Apr 20205:55 pmRNSFinancing of up to £540,000 by Private Placement
28th Apr 20207:30 amRNSManufacturing of PPE for Africa
23rd Apr 20207:30 amRNSReceipt of payments from SOCAR
22nd Apr 20207:59 amRNSIntention to delist from TSX-V & Debt Reduction
20th Apr 20209:16 amRNSAcquisition of Sidi El Kilani from KUFPEC
17th Apr 20207:30 amRNSAcquisition of Tilapia for £200,000
8th Apr 20207:00 amRNSCompletion of fully subscribed Private Placement
6th Apr 20207:00 amRNSFinancing of up to CAD$921,000
31st Mar 20209:02 amRNSLetter of Intent for US$2 million investment
24th Mar 20207:00 amRNSRenegotiation of Tilapia acquisition
19th Mar 202011:06 amRNSSecond Price Monitoring Extn
19th Mar 202011:00 amRNSPrice Monitoring Extension
12th Mar 20207:00 amRNSUpdate on Acquisitions
10th Mar 20204:30 pmRNSDirector/PDMR Shareholding
5th Mar 20204:31 pmRNSDirector/PDMR Shareholding
2nd Mar 20207:30 amRNSChanges to REDPSA in Azerbaijan
2nd Mar 20207:00 amRNSOil production asset, Tunisia
28th Feb 202011:05 amRNSSecond Price Monitoring Extn
28th Feb 202011:00 amRNSPrice Monitoring Extension
26th Feb 20207:00 amRNSNegotiations for drilling rig in the Congo
21st Feb 20207:00 amRNSCEO Presentation at CIEHC 2020
20th Feb 20202:26 pmRNSDirector/PDMR Shareholding
19th Feb 20207:00 amRNSHolding(s) in Company
17th Feb 202012:44 pmRNSPrivate Placement, Director/PDMR Shareholdings
14th Feb 20206:29 pmRNSFiling of Quarterly Results
14th Feb 20207:00 amRNSInstitutional investment in Zenith
12th Feb 20207:00 amRNSPotential acquisition of major production asset
11th Feb 20207:00 amRNSSuccessful Issue of Bonds & Operational Update
3rd Feb 20205:00 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.