Zenith Energy Ltd Zenith Receives "B+" with Positive Outlook Rating (4874D)
October 10 2018 - 1:00AM
UK Regulatory
TIDMZEN
RNS Number : 4874D
Zenith Energy Ltd
10 October 2018
October 10, 2018
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Zenith Energy Receives a "B+" with Positive Outlook Rating from
ARC Ratings
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, is
pleased to announce that ARC Ratings, SA. ("ARC Ratings") has
assigned the Company a medium to long-term issuer credit rating
of "B+" with Positive Outlook.
ARC Ratings are a European credit rating agency with a 25-year
history, registered with the European Securities & Markets
Authority ("ESMA"). The ARC Ratings' report can be viewed here -
https://www.arcratings.com/admin-uk/modulo_projects/ficheiros_projectos/20181008231742-1arc_ratings_zenithenergy_8_oct_2018.pdf
Andrea Cattaneo, Chief Executive Officer, commented:
"We are pleased to receive this rating from ARC Ratings,
especially as it facilitates the possible securing of debt
financing to support Zenith's expansion. This would add another
option to our funding strategy and one which prevents equity
dilution. I look forward to updating shareholders on our progress
as we go forward."
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
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.
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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