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Zenith Energy Ltd.

10/10/2019 | Press release | Distributed by Public on 10/10/2019 01:00

Confirmation of B+, with Positive Outlook Rating

RNS Number : 4447P
Zenith Energy Ltd
10 October 2019

October 10, 2019

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')

Confirmation of B+, with Positive Outlook Rating

Zenith Energy Ltd., ('Zenith' or the 'Company'), (LSE: ZEN; TSX.V: ZEE;OSE: ZENA-ME), the international oil & gas production company operating onshore in Azerbaijan, is pleased to announce that ARC Ratings, SA. ('ARC Ratings') has confirmed its final public 'B+' issuer medium and long-term credit rating, with Positive outlook, assigned to the Company.

ARC Ratings is a European credit rating agency with a 25-year history, registered with the European Securities & Markets Authority ('ESMA'). The ARC Ratings' report can be viewed here: https://www.arcratings.com/admin-uk/modulo_news/ficheiros_noticias/20191008231814-120191008zenithenergypren.pdf

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

'We are pleased to have received the confirmation of our B+, with Positive Outlook credit rating obtained last year. Debt financing has proven to be a successful financing solution which we shall be seeking to explore further to support the Company's development in the near future.'

Further Information:

Zenith Energy Ltd


Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 9031

E-mail: [email protected]



Peterhouse Capital - Joint Broker

Tel: + 44 (0) 207 469 0930

Lucy Williams


Charles Goodfellow




Novum Securities Limited - Joint Broker

Tel: + 44 (0) 207 399 9400

Charlie Brook-Partridge


Hugh McAlister




IFC Advisory Limited - Financial PR & IR

Tel: + 44 (0) 203 934 6630

Graham Herring


Zach Cohen




Notes to Editors:

Zenith Energy Ltd. is an international oil and gas production company, listed on the TSX Venture Exchange (TSX.V:ZEE) and London Stock Exchange (LSE:ZEN). In addition, the Company's common share capital was admitted to trading on the Merkur Market of the Oslo Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a multilateral trading facility owned and operated by the Oslo Børs.

The Company was assigned a medium to long-term issuer credit rating of 'B+ with Positive Outlook' on October 9, 2019 by Arc Ratings, S.A.

The Company operates the largest onshore oilfield in Azerbaijan following the signing of a 25-year REDPSA, (Rehabilitation, Exploration, Development and Production Sharing Agreement), with SOCAR, State Oil Company of the Republic of Azerbaijan, in 2016.

The Company's primary focus is the development of its Azerbaijan operations by leveraging its technical expertise and financial resources to maximise low-cost oil production via a systematic field rehabilitation programme intended to achieve significantly increased revenue. Zenith also operates, or has working interests in, a number of natural gas production concessions in Italy. The Company's Italian operations produce natural gas, condensate and electricity.

Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector. The Company's Board of Directors and senior management team have the experience and technical expertise to develop the Company successfully.


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 [email protected] or visit www.rns.com.
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