TIDMZEN

RNS Number : 9259T

Zenith Energy Ltd

06 July 2018

July 6, 2018

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this announcement via a regulatory information service ("RIS"), the inside information contained in this document is now considered to be in the public domain.

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Pledging of shares by CEO as third-party guarantor

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, announces that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has agreed to act as a third-party guarantor in support of the Company. On July 5, 2018, Mr. Cattaneo pledged a total of 4,542,187 common shares in the capital of the Company, in which he has a direct beneficial interest, as collateral for the two-year non-convertible loan facility signed by Zenith on May 24, 2018, and announced to the market on May 25, 2018, for a total amount of up to US$2,000,000.

For further information please contact:

Zenith Energy Ltd.

Andrea Cattaneo

Chief Executive Officer

E-mail: info@zenithenergy.ca

Tel: +1 (587) 315 9031

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon

Kate Rogucheva

Tel: +44 (0) 20 7830 9700

Daniel Stewart & Company Plc - (Joint Broker)

Robert Emmet- Corporate Broking

Nikhil Varghese- Corporate Finance

Tel: + 44 (0) 207 776 6550

Optiva Securities - (Joint Broker)

Christian Dennis

Tel: + 44 (0) 203 137 1903

Allenby Capital Limited - (Financial Adviser)

Nick Harriss

Nick Athanas

Tel: + 44 (0) 203 328 5656

Notes to Editors:

Zenith Energy Ltd. is an international oil and gas production company, dual listed on the TSX Venture Exchange and London Stock Exchange.

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 Azerbaijan Republic, 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, 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 experience and technical expertise to develop the Company successfully.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
 a)    Name                              Andrea Cattaneo 
      --------------------------------  ---------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------- 
 a)    Position/status 
                                          Chief Executive Officer 
      --------------------------------  ---------------------------------- 
 b)    Initial notification/Amendment    Initial Notification 
      --------------------------------  ---------------------------------- 
 3     Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or 
        auction monitor 
      -------------------------------------------------------------------- 
 a)    Name                              Zenith Energy Ltd. 
      --------------------------------  ---------------------------------- 
 b)    LEI 
                                          213800AYTYOYD61S4569 
      --------------------------------  ---------------------------------- 
 4     Details of the transaction(s): section to be 
        repeated for (i) each type of instrument; (ii) 
        each type of transaction; (iii) each date; and 
        (iv) each place where transactions have been 
        conducted 
      -------------------------------------------------------------------- 
 a)    Description of the                Common Shares 
        financial instrument, 
        type of instrument 
      --------------------------------  ---------------------------------- 
       Identification code               CA98936C1068 
      --------------------------------  ---------------------------------- 
 b)    Nature of the transaction         Pledging of common shares, 
                                          in the capacity of third-party 
                                          guarantor, as collateral 
                                          for non-convertible loan 
                                          facility signed by the Company 
                                          on May 24, 2018. The Company 
                                          announced the signing of 
                                          the facility on May 25, 2018. 
      --------------------------------  ---------------------------------- 
 c)    Price(s) and volumes(s)           Price(s)          Volume(s) 
      --------------------------------  ----------------  ---------------- 
                                                     n/a         2,433,379 
 -------------------------------------  ----------------  ---------------- 
                                                     n/a         2,108,808 
 -------------------------------------  ----------------  ---------------- 
 d)    Aggregated information 
      --------------------------------  ---------------------------------- 
  Aggregated volume                      4,542,187 
 -------------------------------------  ---------------------------------- 
  Aggregated price                       n/a 
 -------------------------------------  ---------------------------------- 
 e)    Date of the transaction(s)        July 5, 2018 
      --------------------------------  ---------------------------------- 
 f)    Place of the transaction          London Stock Exchange 
      --------------------------------  ----------------------------------

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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