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Zenith acquires Tunisian oil producer
StockMarketWire.com
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Zenith Energy has acquired Ecumed Petroleum Zarzis, a oil producer with operations in Tunisia.
The acquisition was made via Zenith's African subsidiary which bought a 100% stake in the company through its owner Candax Energy.
Ecumed Petroleum Zarzis currently produces around 465 barrels a day.
Zenith CEO Andrea Cattaneo said: 'I am delighted to have completed this transaction which reflects the continued successful implementation of our development strategy - that of acquiring prospective oil production and development assets - and delivers immediate daily production revenue to Zenith during a time of material appreciation in the price of oil.'
At 1:29pm: (LON:ZEN) Zenith Energy Ltd share price was 0p at 0.35p
Story provided by StockMarketWire.com
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