June 4, 2024
ZENITH
ENERGY LTD.
("Zenith" or the
"Company")
Update on
Arbitrations against Republic of Tunisia
Zenith Energy
Ltd. (LSE: ZEN; OSE: ZENA; OTCQB:
ZENAF), the listed international energy production and
development company, is pleased to provide an update
regarding the ongoing
ICC Arbitration for SLK against the Republic
of Tunisia ("ICC 2
Arbitration") and the ICSID
Arbitration against the Republic of
Tunisia ("ICSID
Arbitration").
Zenith Energy Africa Ltd.
("ZEAL"), Zenith Overseas
Assets Ltd. ("ZOAL") and
Compagnie du Désert Ltd. ("CDD") have appointed Rahim Moloo and
Robert Spano of the law firm Gibson, Dunn & Crutcher LLP
("Gibson Dunn") to act as
counsel in their claims against the Republic of Tunisia brought
under the bilateral investment treaty between the United Kingdom
and Tunisia under the auspices of the International Centre for
Settlement of Investment Disputes for the ICSID
Arbitration.
Similarly, Canadian North Africa Oil
and Gas Limited ("CNAOG")
has also appointed Rahim Moloo and Robert Spano of Gibson Dunn to
act as counsel in the parallel arbitration proceedings brought
against Tunisia under the auspices of the ICC for the ICC 2
Arbitration.
Gibson Dunn has appeared in numerous
high-stake arbitral proceedings before all major arbitral
institutions. Gibson Dunn's international arbitration lawyers are
regularly ranked by legal publications.
Rahim Moloo is a partner and
co-chair of the firm's International Arbitration Group. He has been
recognized by Who's Who Legal as "one of the most skilled advocates
of his generation" and a "Global Elite Thought Leader".
Robert Spano is the former president
of the European Court of Human Rights, the youngest judge ever to
be elected to the presidency in the Court's history.
Andrea Cattaneo, Chief Executive Officer, commented:
"We are delighted to appoint Gibson Dunn, one
of the world's leading arbitration specialists, as legal counsel in
relation to the ICC 2 Arbitration and ICSID
Arbitration.
The Company will work closely with
Rahim Moloo and Robert Spano with the objective of redressing the
very significant damages caused by the actions of the Tunisian
authorities to the detriment of Zenith and its
shareholders."
Further Information:
|
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer
|
Tel: +1 (587) 315 1279
E: info@zenithenergy.ca
|
Notes to Editors:
Zenith Energy Ltd. is a revenue
generating, independent energy company with energy production,
exploration and development assets in North Africa, the US
and Europe. The Company is listed on the London Stock Exchange
Main Market (LSE: ZEN), the Euronext Growth of the Oslo Stock
Exchange (OSE: ZENA) and the Venture Market of the OTCQB (OTCQB:
ZENAF).
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