Calgary, AB / TheNewswire / September 7, 2017 - Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce the successful perforation of a new, unexploited production zone in well C-26 in the Jafarli field. 

Following the perforation, well C-26 is flowing at a rate of 70 BOPD. It is important to note that well C-26 was previously not producing.  

The successful perforation was undertaken following the identification of 10 metres of unexploited payzone between the depth of 3618-3628 metres in the Middle Eocene geological structure.  

This operation is part of the Company's strategy, announced on September 6, 2017, to identify and perforate new productive zones in a number of underperforming wells with significant untapped production potential. 

Mike Palmer, Chief Operating Officer, Zenith Aran, the Company's Azerbaijan-based fully owned subsidiary, commented:

"This is a very positive development that confirms the strong potential of our rehabilitation operations in Azerbaijan.  The identification and perforation of new production zones in a number of underperforming wells is a very important part of Zenith Aran's field development strategy between now and March 31, 2018. 

It is particularly important to note that well C-26 was not producing and that we have achieved a very significant increase in daily production revenue from this well, from 0 BOPD to 70 BOPD.

I very much look forward to implementing other parts of our field rehabilitation programme announced yesterday, specifically the workover of Z-28 in the Zardab field.  This will be our most technically demanding well intervention so far, but equally potentially the most rewarding."  

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    

For further information, please contact:

 

Zenith Energy Ltd.      

Andrea Cattaneo

CEO & President

 

Email: info@zenithenergy.ca

Telephone:     +1 (587) 315 9031

Telefax:           +1 (403) 775 4474

 

Allenby Capital Limited - (Joint Broker)

Nick Harriss

Nick Athanas

Richard Short

Telephone:   + 44 (0) 203 328 5656

 

Optiva Securities - (Joint Broker)

 

Christian Dennis

Telephone: + 44 (0) 203 137 1903

 

Abchurch (Financial PR/IR)

Tim Thompson

Telephone: +44 (0) 200 7398 7700