REG - Zenith Energy Ltd - MoU – South Sudan

Zenith Energy (CA)Announcement

28/11/2023 07:00

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RNS Number : 8400U  Zenith Energy Ltd  28 November 2023

November 28, 2023

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

MoU - South Sudan

 

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed
international energy production and development company, is pleased to
announce that it has signed a Memorandum of Understanding (the "MoU") with
Nile Services and Logistics Company Ltd ("Nile SLC") in the Republic of South
Sudan.

 

MoU Highlights

 

·    Nile SLC is a subsidiary of Nile Petroleum Corporation, the national
oil company of South Sudan.

·    The objective of the MoU is to formalise the shared interest of Nile
SLC and Zenith to jointly pursue business opportunities involving the
construction of fuel products storage tanks, pipelines, and crude oil storage
tanks in South Sudan.

·    Under the terms of the MoU, Zenith will provide technical, financial,
and managerial expertise in the construction of fuel storage tanks, pipelines,
and crude oil storage facilities.

·    Nile SLC will facilitate the establishment of a partnership in
identifying business opportunities, whereas Zenith will contribute its
technical expertise in midstream operations.

 

 

 

Andrea Cattaneo, Chief Executive Officer, commented:

 

"Our technical management team has continued to establish itself and
strengthen local relationships in the Republic of South Sudan, following the
signing of the MoU with the Ministry of Petroleum announced earlier this year.

 

We are very pleased to have now signed an MoU with Nile SLC, a subsidiary of
the national oil company of South Sudan, and we look forward with enthusiasm
to jointly exploring opportunities in the midstream domain and beyond,
specifically with regards to petroleum product trading activities.

 

This represents a complementary enrichment of our core focus which fully
remains the acquisition and successful development of oil, gas, and
electricity production assets.

 

It is our view, supported by our progressive establishment in-country, that
there exist many commercially attractive opportunities in South Sudan, and
that it is an attractive jurisdiction for foreign investors.

 

To this end, I am pleased to confirm that we are currently in the advanced
phase of negotiating the potential acquisition of certain oil exploration and
development licenses located in South Sudan."

 

 

 

Further Information:

 

 

 Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer     Tel: +1 (587) 315 1279

                                               E:  info@zenithenergy.ca (mailto:info@zenithenergy.ca)
 Allenby Capital Limited - Financial Adviser   Tel: + 44 (0) 203 328 5656

 Nick Harriss

 Daniel Dearden-Williams

 

Notes to Editors:

 

Zenith Energy Ltd. is a revenue generating, independent energy company with
production, exploration and development assets in North Africa and Europe,
including electricity generation in Italy. 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
(http://www.zenithenergy.ca)

Twitter: @zenithenergyltd

LinkedIn:  https://bit.ly/3A5PRJb (https://bit.ly/3A5PRJb)

 

 

 

 

 

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