MoU – South Sudan

28 Nov 2023 08:00 CET

November 28, 2023

ZENITH ENERGY LTD.

("Zenith" or the "Company")

MoU – South Sudan

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed international
energy production and development company, is pleased to announce that it has
signed a Memorandum of Understanding (the “MoU”) with Nile Services and
Logistics Company Ltd (“Nile SLC”) in the Republic of South Sudan.

MoU Highlights

• Nile SLC is a subsidiary of Nile Petroleum Corporation, the national oil
company of South Sudan.
• The objective of the MoU is to formalise the shared interest of Nile SLC and
Zenith to jointly pursue business opportunities involving the construction of
fuel products storage tanks, pipelines, and crude oil storage tanks in South
Sudan.
• Under the terms of the MoU, Zenith will provide technical, financial, and
managerial expertise in the construction of fuel storage tanks, pipelines, and
crude oil storage facilities.
• Nile SLC will facilitate the establishment of a partnership in identifying
business opportunities, whereas Zenith will contribute its technical expertise
in midstream operations.



Andrea Cattaneo, Chief Executive Officer, commented:

“Our technical management team has continued to establish itself and strengthen
local relationships in the Republic of South Sudan, following the signing of the
MoU with the Ministry of Petroleum announced earlier this year.

We are very pleased to have now signed an MoU with Nile SLC, a subsidiary of the
national oil company of South Sudan, and we look forward with enthusiasm to
jointly exploring opportunities in the midstream domain and beyond, specifically
with regards to petroleum product trading activities.

This represents a complementary enrichment of our core focus which fully remains
the acquisition and successful development of oil, gas, and electricity
production assets.

It is our view, supported by our progressive establishment in-country, that
there exist many commercially attractive opportunities in South Sudan, and that
it is an attractive jurisdiction for foreign investors.

To this end, I am pleased to confirm that we are currently in the advanced phase
of negotiating the potential acquisition of certain oil exploration and
development licenses located in South Sudan.”



Further Information:


Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer
Tel: +1 (587) 315 1279
E: info@zenithenergy.ca

Allenby Capital Limited - Financial Adviser

Nick Harriss

Daniel Dearden-Williams Tel: + 44 (0) 203 328 5656

Notes to Editors:

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

Zenith's strategic focus is on pursuing development opportunities through the
development of proven revenue generating energy 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

More information:
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