August 6, 2019 - 9:00 AM EDT
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Director/PDMR Shareholding

(via TheNewswire)

TheNewswire - August 6, 2019 - Zenith Energy Ltd. ("Zenith" or the "Company") (LSE:ZEN) (TSXV:ZEE) (OSE:ZENA-ME) the listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that

  1. 1.He purchased 700,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of GBP 0.02471 (approximately CAD$0.04) per Common Share on the London Stock Exchange, and 7,187,632 common shares of no par value ("Common Shares") in the capital of the Company at an average price of CAD$0.04 (approximately GBP 0.025) per Common Share on the TSX, on August 5, 2019;

  2. 2.He subscribed 7,500,000 new common shares in the capital of Zenith at a price of CAD 0.04 (approximately equivalent to GBP 0.025) per common share during the Company's last Canadian Placing, announced on August 1, 2019;

  3. 3.He transferred 1,000,000 Common Shares on August 02, 2019 to a family member (who is not a PCA); and

  4. 4.He sold a total of 7,187,632 common shares of no par value ("Common Shares") in the capital of the Company at a price of ?0.025 per Common Share (approximately CAD$0.04) on August 5, 2019.

Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 26,359,115 Common Shares in the capital of the Company, representing 3.88% of the total issued and outstanding common share capital of the Company admitted to trading on the Main Market for listed securities of the London Stock Exchange, and representing 7.29% of the total issued and outstanding common share capital of the Company admitted to trading on the TSX Venture Exchange and Merkur Market of the Oslo Boers.

As announced on December 15, 2017, Mr. Cattaneo is indirectly interested in a total of 1,250,000 Common Shares, today representing 0.48% of the Company's issued and outstanding common share capital admitted to trading on the Main Market of the London Stock Exchange, and representing 0.35% of the total issued and outstanding common share capital of the Company admitted to trading on the TSX Venture Exchange and Merkur Market of the Oslo Boers.

Neither the 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.

Further information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 9031

E-mail: [email protected]

Peterhouse Capital - Joint Broker

Tel: + 44 (0) 207 469 0930

Lucy Williams

Charles Goodfellow

Novum Securities Limited - Joint Broker

Tel: + 44 (0) 207 399 9400

Charlie Brook-Partridge

Hugh McAlister

IFC Advisory Limited - Financial PR & IR

Tel: + 44 (0) 203 934 6630

Graham Herring

Miles Nolan

Zach Cohen

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 Boers (ZENA:ME) on November 8, 2018. The Merkur Market is a multilateral trading facility owned and operated by the Oslo Boers.

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 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 & President

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 financial instrument, type of instrument

Common Shares

Identification code

CA98936C1068

b)

Nature of the transaction

Purchase of Common Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

GBP0.0248

GBP0.0245

GBP0.0239

GBP0.02475

100,000

100,000

250,000

250,000

d)

Date of the transaction(s)

August 5, 2019

e)

Place of the transaction

London Stock Exchange

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 & President

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 financial instrument, type of instrument

Common Shares

Identification code

CA98936C1068

b)

Nature of the transaction

Purchase of Common Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

CAD$ 0.04

7,187,632

d)

Date of the transaction(s)

August 5, 2019

e)

Place of the transaction

TSX Venture Exchange

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 & President

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 financial instrument, type of instrument

New Common Shares

Identification code

CA98936C1068

b)

Nature of the transaction

Subscription of New Common Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

CAD$ 0.04

7,500,000

d)

Date of the transaction(s)

August 1, 2019

e)

Place of the transaction

TSX Venture Exchange

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 & President

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 financial instrument, type of instrument

Common Shares

Identification code

CA98936C1068

b)

Nature of the transaction

Transfer of Common Shares to a family member

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

n.a.

1,000,000

d)

Date of the transaction(s)

August 2, 2019

e)

Place of the transaction

London Stock Exchange

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 & President

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 financial instrument, type of instrument

Common Shares

Identification code

CA98936C1068

b)

Nature of the transaction

Sale of Common Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

GBP 0.025

7,187,632

d)

Date of the transaction(s)

August 5, 2019

e)

Place of the transaction

London Stock Exchange

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.

Copyright (c) 2019 TheNewswire - All rights reserved.


Source: TheNewsWire (August 6, 2019 - 9:00 AM EDT)

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