Granting of Stock Options

November 29, 2017 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this announcement via a regulatory information service ("RIS"), the inside information contained in this document is now considered to be in the public domain.

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Granting of Stock Options to Operational Managers & Advisers

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE) the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce the granting of 2,000,000 stock options (the "Options"), in accordance with the Company's Stock Option Plan (the "Plan"), to operational managers of the Company in Azerbaijan, and a Zenith financial adviser.

The Plan was approved by shareholders at the Company's last AGM, held on January 20, 2017. 

The Options will have as exercise price the Company's TSXV closing price of yesterday, November 28, 2017, CAD$0.175 (approximately £0.1025). The Options are fully vested and have the duration of five years from the date of granting.

The transaction is subject to regulatory approval from the TSX Venture Exchange.

For further information please contact:

Zenith Energy Ltd.

Andrea Cattaneo

Chief Executive Officer 

Email: info@zenithenergy.ca

Telephone: +1 (587) 315 9031

Telefax: +1 (403) 775 4474

Optiva Securities - (Joint Broker)

Christian Dennis

Telephone: + 44 (0) 203 137 1903

Beaufort Securities Limited - (Joint Broker)

Jon Belliss

Telephone: +44 207 382 8300

Allenby Capital Limited - (Financial Adviser)

Nick Harriss

Nick Athanas

Telephone:   + 44 (0) 203 328 5656

Yellow Jersey (Financial PR/IR)

Tim Thompson

Telephone: +44 (0) 203 735 8825