Zenith Energy Ltd Significant production uplift from ROB-1 (6514Q)
29 10월 2021 - 3:00PM
UK Regulatory
TIDMZEN
RNS Number : 6514Q
Zenith Energy Ltd
29 October 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
October 29, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Significant production uplift from ROB-1
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:
ZENA), which is focused on building a production and development
portfolio in Africa, is pleased to announce that a flow rate of 124
barrels of oil per day has been recorded from well Robbana-1 well
("ROB-1"), located within the Robbana concession in Tunisia,
following the completion of a successful workover announced to the
market by way of regulatory news on October 25, 2021.
The Company expects a stabilised rate of production of
approximately 100 BOPD is to be achieved in the near-term once well
production is optimised, representing a 500% increase in production
from ROB-1 over the previous daily production rate of 20 BOPD that
had been recorded since the last workover performed in 2012.
Andrea Cattaneo, Chief Executive Officer of Zenith,
commented:
"We are very pleased with the outcome of our inaugural
operational engagement in Tunisia. The workover of ROB-1 has been
executed without incident and on-budget, enabling the Company to
increase its daily net cumulative production to a total of
approximately 650 BOE/ day, the highest production rate in the
Company's history.
Zenith's operational team is already defining the next steps for
drilling well ROB-3, as previously announced on June 10, 2021, and
we look forward to delivering further positive news on our progress
in due course."
Further Information:
Zenith Energy Ltd Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive E: info@zenithenergy.ca
Officer
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328 5656
Adviser & Broker
Nick Harriss
Nick Athanas
------------------------------
Celicourt Communications (Financial Tel: +44 (0) 208 434 2643
PR) E: zenithenergy@celicourt.uk
Mark Antelme
Jimmy Lea
------------------------------
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 seize
value-accretive hydrocarbon production opportunities in the oil
& gas sector, specifically in Africa.
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END
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