Opening of Representative Office in Yemen

14 Nov 2022 13:30 CET

November 14, 2022

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Opening of Representative Office in Yemen

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the energy company with proven revenue
generating production, exploration and development assets in Africa and Europe,
is delighted to announce that it has opened a representative office in the city
of Aden, located in the Republic of Yemen.

Andrea Cattaneo, Chief Executive of Zenith, commented:

“We are very pleased to have opened a representative office in Yemen. The team
and I have had the opportunity to visit Aden and to have fruitful interactions
with the country’s local authorities.

Yemen is a country endowed with very significant oil and gas reserves, having
attracted sizeable investment from many leading international oil and gas
companies in the recent past.

Positive political developments achieved during 2022 have given hope of
long-term stability being successfully maintained and set the conditions for
renewed foreign investment in the local economy, including the oil and gas
industry.

We see great potential for Zenith’s establishment in Yemen and look forward with
enthusiasm to updating the market on our future progress.”

About Yemen
• Yemen is located on the southern end of the Arabian Peninsula, sharing a
border with Saudi Arabia and Oman.

• The country has significant oil and natural gas resources sufficient for both
domestic demand and international exports, however, it is not currently a major
hydrocarbon producer relative to several other Middle Eastern countries.

• Yemen sits on proved hydrocarbon reserves of c. 3 billion barrels of crude oil
and 17 trillion cubic feet of gas (US Energy Information Administration). Its
main crude export grade is light sweet Masila, with an API gravity of 34.10.

• Until 2009, Yemen reinjected most of its gas production to aid in oil
recovery, but has since become an LNG exporter, with the government aiming to
increase the use of natural gas in many sectors, including in electricity
generation.


-ENDS-


Further Information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer
Tel: +1 (587) 315 9031
E: info@zenithenergy.ca

BlytheRay - Financial PR/IR

Tim Blythe, Megan Ray, Madeleine Gordon-Foxwell Tel: +44 207 138 3204
E: zenith@blytheray.com

Alternative Resource Capital - Broker

Alex Wood
Keith Dowsing
Tel: +44 (0) 207 186 9004
Tel: + 44 (0) 207 186 9005

Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with
production, exploration and development assets in Tunisia, Italy and the
Republic of the Congo, including electricity generation in Italy. The Company is
listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext
Growth of the Oslo Stock Exchange (OSE: ZENA).

Zenith's strategic focus is on pursuing transformational opportunities in Africa
and Europe through the development of proven revenue generating oil, gas, and
electricity production assets, as well as low-risk exploration activities in
assets with existing production.
For more information, please visit: www.zenithenergy.ca

Twitter: @zenithenergyltd
LinkedIn: https://bit.ly/3A5PRJb

Market Abuse Regulation (MAR) Disclosure

The information included in this announcement is defined as inside information
pursuant to MAR article 7 and is publicly disclosed in accordance with MAR
article 17 and section 5 -12 of the Norwegian Securities Trading Act. The
announcement is made by the contact person.

More information:
Access the news on Oslo Bors NewsWeb site

575649_14.11.2022 Norway.pdf