March 8, 2022  

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Mobilisation of workover rig to ROB-1 in Tunisia

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international energy production and development company, announces that a workover rig will shortly be mobilised to the Robbana concession (onshore Tunisia) to commence operations in well Robanna-1 ("ROB-1").

The workover rig will re-enter ROB-1 and pull the tubing string out of hole. A specialised Schlumberger wireline unit will subsequently perform logging operations to confirm casing integrity and, in the event of casing damage being identified, perform the necessary repair work.

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

"We are cautiously optimistic that we shall successfully achieve sustained daily oil production from ROB-1.

As shown by this well intervention and the upcoming drilling of ROB-3, the Robbana concession is one of our primary areas of operational focus, following an in-depth geological and reservoir review performed by our Tunisian team.  

All additional production to be obtained from ROB-1 will further increase Zenith's record revenue generation and associated profitability in the current energy pricing climate."

Further Information: 

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 complete value-accretive hydrocarbon production opportunities in the oil & gas sector, specifically in Africa.

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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.