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11/01-2019 08:00:27: (ZENA-ME.MERK) Successful Listing of Corporate Notes

January 11, 2019

ZENITH ENERGY LTD. 

("Zenith" or the "Company")

Successful Listing of Corporate Notes
 
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE; OSE:
ZENA-ME) the listed international oil & gas production company operating the
largest onshore oilfield in Azerbaijan, is pleased to announce that it has
issued and listed EURO 3,120,000 unsecured corporate notes at par value (the
"Notes") on the Third Market (MTF) of the Vienna Stock Exchange. 
 
The Notes bear interest at a rate of 8 per cent per annum, payable
semi-annually, and are listed on the Third Market (MTF) of the Vienna Stock
Exchange ("Wiener Borse AG") as "ZENITH ENERGY LTD 8% NOTES - 2021" The
International Securities Identification Number ("ISIN") of the Notes is
AT0000A23S79. This issuance is part of an approval to list up to EURO 10 million
in several tranches and with the same ISIN.
 
The Notes are governed by Austrian law and, since the Notes are not convertible
into equity of Zenith, the issuance of the Notes is not subject to the approval
of the TSX Venture Exchange in Canada.
 
The Company is planning to issue further tranches of the Notes in the first
quarter of 2019. Respective announcements in relation to each issuance will be
made as required.  
 
The issue of the Notes is aligned with the Company's strategy of diversifying
its financing towards non-equity dilutive funding to support its successful
development. 
 
 
Andrea Cattaneo, Chief Executive Officer, commented:

"I am pleased with the successful listing of the Notes on the Vienna Stock
Exchange, especially as we are delivering on our declared intention of pursuing
non-dilutive financing to support the Company's development.  
This first success in the debt financing arena has been reached after an
extended process involving the selection of the most propitious markets in
Europe wherein to raise debt financing after the Company's assignment of a
medium to long-term issuer credit rating of "B+" with Positive Outlook on
October 8, 2018 by Arc Ratings, S.A; a rarity amongst listed companies of
Zenith's size. 
I am very much looking forward to the Company's progress during 2019. As has
been announced, we have a series of highly prospective workover and drilling
activities planned in the very near-term. Success in these activities will
enable the Company to achieve its production objectives and, in so doing, obtain
the market appreciation the Zenith story deserves. Our progress going forward
should reflect the considerable lessons that have been learnt regarding the
technical and geological challenges of our potentially transformational
Azerbaijan asset during the initial phases of our 25-year field development
programme." 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of TSXV) accepts responsibility for the adequacy
of this release.

Further Information:

Zenith Energy Ltd 

Andrea Cattaneo 
Chief Executive Officer 
E-mail: info@zenithenergy.ca
Tel: +1 (587) 315 9031
 
Allenby Capital Limited - Financial Adviser
Nick Harriss
Nick Athanas
Tel: + 44 (0) 203 328 5656
 
Optiva Securities - Joint Broker
Christian Dennis
Tel: + 44 (0) 203 137 1903 

Daniel Stewart & Company Plc - Joint Broker
Robert Emmet - Corporate Broking
Tel: + 44 (0) 207 776 6550

  
Notes to Editors: 

Zenith Energy Ltd. is an international oil and gas production company, listed on
the TSX Venture Exchange (TSX.V:ZEE) and London Stock Exchange (LSE:ZEN). In
addition, the Company's common share capital was admitted to trading on the
Merkur Market of the Oslo Børs (ZENA:ME) on November 8, 2018. The Merkur Market
is a multilateral trading facility owned and operated by the Oslo Børs. 

The Company was assigned a medium to long-term issuer credit rating of "B+ with
Positive Outlook" on October 8, 2018 by Arc Ratings, S.A. 

The Company operates the largest onshore oilfield in Azerbaijan following the
signing of a 25-year REDPSA, (Rehabilitation, Exploration, Development and
Production Sharing Agreement), with SOCAR, State Oil Company of the Republic of
Azerbaijan, in 2016. 

The Company's primary focus is the development of its Azerbaijan operations by
leveraging its technical expertise and financial resources to maximise low-cost
oil production via a systematic field rehabilitation programme intended to
achieve significantly increased revenue. Zenith also operates, or has working
interests in, a number of natural gas production concessions in Italy. The
Company's Italian operations produce natural gas, condensate and electricity.
Zenith's development strategy is to identify and rapidly seize value-accretive
hydrocarbon production opportunities in the onshore oil & gas sector. The
Company's Board of Directors and senior management team have the corporate and
technical expertise to develop the Company successfully.

Ekstern link: https://newsweb.oslobors.no/message/467357

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