Confirmation of B+, with Positive Outlook Credit Rating

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)

October 10, 2019 – TheNewswire – Calgary, AB - Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE:ZEN) (TSXV:ZEE) (OSE:ZENA-ME), the international oil & gas production company operating onshore in Azerbaijan, is pleased to announce that ARC Ratings, SA.  ("ARC Ratings") has confirmed its final public "B+" issuer medium and long-term credit rating, with Positive outlook, assigned to the Company. 

 

ARC Ratings is 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_news/ficheiros_noticias/20191008231814-120191008zenithenergypren.pdf 

 

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

"We are pleased to have received the confirmation of our B+, with Positive Outlook credit rating obtained last year. Debt financing has proven to be a successful financing solution which we shall be seeking to explore further to support the Company's development in the near future."

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the 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 |  | |--------------------------------------------------------------------------------------------| |Zach Cohen |  | |--------------------------------------------------------------------------------------------| |  |  | ----------------------------------------------------------------------------------------------   

Notes to Editors: 

Zenith Energy Ltd. is an international oil and gas production company, listed on the TSX Venture Exchange (TSXV: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 Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a multilateral trading facility owned and operated by the Oslo Børs. 

The Company was assigned a medium to long-term issuer credit rating of "B+ with Positive Outlook" on October 9, 2019 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.

  

Copyright (c) 2019 TheNewswire - All rights reserved.