Calgary, Alberta / TheNewswire / November 30, 2015 / Zenith Energy Ltd. ("Zenith" or the "Company") (TSX VENTURE: ZEE) is pleased to celebrate the recent democratic elections in Argentina and the election of Mauricio Macri to the office of the President of Argentina.
In Chubut, the location where all of the assets of Zenith's 100% owned subsidiary, Petrolera Patagonia Srl, are located, Mario Das Neves became the new governor elect. The Argentine province of Chubut contains only 1 percent of the country's population, but accounts for 30% of the petroleum and 8% of the natural gas production of the country.
On behalf of the Board of Zenith, Andrea Cattaneo, President and CEO of Zenith Energy Ltd. comments, "The Company is pleased to welcome Mauricio Macri as the newly democratically elected President of Argentina and is confident that his pro-business policies will benefit the entire nation, both domestically, and internationally. Zenith is particularly interested in the ability of the new administration to attract foreign capital into Argentina to partner with the domestic talent of the country's population in the sustainable and measured development of its abundant resource opportunities."
"Zenith's ongoing investments into accretive energy projects will remain on course, and as an operator and low cost producer, the Company is well-positioned to take advantage of the current business climate for both oil and natural gas. Management is also anticipates that the experienced governor Mario Das Neves will advance the economic interests of Chubut and enable the oil and gas industry to reach its potential for the benefit of its people."
About Zenith Energy Ltd.
Zenith focuses on the acquisition and further development of proven onshore oil and gas fields where production has declined over time, but which are capable of increased productivity following an injection of capital and optimization through its corporate engineering and technical expertise. To maximize shareholder value, Zenith targets acquisitions of production opportunities that offer strong logistics and close proximity to refineries and pipelines. Zenith's management and directors have extensive international and governmental experience and possess the technical knowledge to execute this strategy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning (i) the Company's plan and objectives, (ii) the current and future production potential of the properties, (iii) the revenue associated with production and (iv) the pricing and profitability of oil and gas production. The forward-looking statements and information are based on certain key expectations and assumptions made by Zenith, including the ability to execute its strategy and realize its growth opportunities including its ability to raise financing needed to execute its plans. Although Zenith believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Zenith can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, Zenith being unable to obtain additional financing or other resources to realize its growth opportunities. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Zenith undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
For further information, please contact:
Jose Ramon Lopez Portillo Andrea Cattaneo
Chairman of the Board CEO & President
Telephone: (587) 437-1984
Telefax: (403) 775-4474
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