Zenith Energy Ltd Conservative seizure of ETAP bank account (4849F)

TIDMZEN

RNS Number : 4849F

Zenith Energy Ltd

10 July 2023

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 
                                       Tel: +1 (587) 315 1279 
 Andrea Cattaneo, Chief Executive      E: info@zenithenergy.ca 
 Officer 
BlytheRay - Financial PR/IR          Tel: +44 207 138 3204 
 Tim Blythe, Megan Ray, Matt          E: zenith@blytheray.com 
 Bowld 
Allenby Capital Limited - Financial  Tel: + 44 (0) 203 328 5656 
 Adviser 
 
 Nick Harriss 
 
 Daniel Dearden-Williams 
Miriad Limited - Media Enquiries     Tel: +44 7867527659 
 Zak Mir                              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.

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July 10, 2023 03:15 ET (07:15 GMT)

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