Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Signs memorandum of understanding with the Minsitry of Petroleum in South Sudan for a licence negotiation. Says this relates to the acquisition and development of oil and gas production licences.

Chief Executive Officer Andrea Cattaneo says: ‘South Sudan is endowed with a prolific petroleum system and has been the focus of our attention in recent months. We believe there are potentially many commercially attractive opportunities in-country for Zenith to acquire and develop successfully.’

Current stock price: 0.38 pence, up 5.6% on Friday

12-month change: down 56%

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