January 11, 2021 ZENITH ENERGY LTD. ("Zenith" or the "Company") Sale of Common Shares held inTreasury Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA-ME), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that, as a result of market demand, it has sold 25,395,828 common shares of no par value (the "Common Shares") in the capital of the Company, which it held in treasury, at a price ofNOK 0.148 (approximately £0.013), the last closing price of the Company's equity listing on the Euronext Growth of theOslo Stock Exchange , for a total consideration of3,758,582 NOK (approximately equivalent to £328,000). Total Voting Rights The Company wishes to announce, in accordance with theFinancial Conduct Authority's Disclosure Guidance and Transparency Rules, the following revised information. Class of share Total number of shares Number of voting rights per share Total number of voting rights per class of share Common Shares in issue and admitted to trading on the Main Market of theLondon Stock Exchange 313,400,824 1 313,400,824 Common Shares in issue and admitted to trading on the Euronext Growth Market of the Oslo Børs - representing the total outstanding common share capital of the Company 1,070,644,350 1 1,070,644,350 No common shares are held in treasury. The above figure for total number of Common Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under theFinancial Conduct Authority's Disclosure Guidance and Transparency Rules. Further Information:Zenith Energy Ltd Andrea Cattaneo , Chief Executive Officer Tel: +1 (587) 315 9031 E-mail: info@zenithenergy.caAllenby Capital Limited - Financial Adviser & BrokerNick Harriss Nick Athanas Tel: + 44 (0) 203 328 5656 Notes to Editors:Zenith Energy Ltd. is an international oil and gas production company, listed on theLondon Stock Exchange (LSE:ZEN) and the Euronext Growth Market of theOslo Stock Exchange (OSE:ZENA). Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically inAfrica . The Company's board of directors and senior management team have the experience and technical expertise to develop the Company successfully.
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