September 25, 2020
 
ZENITH ENERGY LTD.
  
("Zenith" or the "Company")
 
Completion of Financing

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, announces that it has completed a private placement
in Norway (the "Financing").

The Financing has attracted the participation of existing private investors to
raise an aggregate total amount of approximately NOK 4,500,000 (approximately
£409,000.

Issue Price

The issue price of the Financing was NOK 0.045 per common share of no par value
in the capital of the Company ("Common Shares"), equivalent to approximately
£0.004 (0.4 pence).

Use of Proceeds

The proceeds of the Financing will be used to provide additional fund for the
Company's publicly announced acquisition campaign in Africa, as well as for
general working capital purposes.

Financing Overview

Zenith has issued a total of 100,000,000 new Common Share units ("New Common
Shares"). 

An application for the new Common Shares to be listed on the standard segment of
the FCA Official List and to be admitted for trading on the London Stock
Exchange Main Market for listed securities will be made within 12 months of the
issue date. 

Total Voting Rights

The Company wishes to announce, in accordance with the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules, the following revised
information resulting from completion of the Financing. 
 
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 the London
Stock Exchange	313,400,824	1	313,400,824
Common Shares in issue and admitted to trading on the Merkur Market of the Oslo
Børs - representing the total outstanding common share capital of the Company
	1,042,072,921	1	1,042,072,921
 
Zenith holds 25,395,828 Common Shares 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 the Financial 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.ca

Allenby Capital Limited - Financial Adviser & Broker	 
Nick 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
the London Stock Exchange (LSE:ZEN) and the Merkur Market of the Oslo Stock
Exchange (ZENA:ME).
Zenith's development strategy is to identify and rapidly seize value-accretive
hydrocarbon production opportunities in the onshore oil & gas sector,
specifically in Africa. The Company's board of directors and senior management
team have the experience and technical expertise to develop the Company
successfully.