June 30, 2020

ZENITH ENERGY LTD.

(“Zenith” or the “Company”)

Postponed publication of Year-End Results due to COVID-19 

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; OSE: ZENA-ME), the
international oil & gas production company focused on African development
opportunities announces that, in agreement with its independent auditor, PKF
LittleJohn, and as a result of the ongoing significant logistical difficulties
and restrictions on international travel caused by COVID-19, it has postponed
the filing of its audited consolidated financial statements, management's
discussion and analysis ("MD&A") and annual information form, inclusive of the
reserves disclosure required by National Instrument 51-101 – Standards of
Disclosure for Oil and Gas Activities, for the year ended March 31, 2020
(collectively, the "Year-End Filings"), in reliance on the exemption provided in
ASC Blanket Order 51-517 – Temporary Exemption from Certain Corporate Finance
Requirements (and similar exemptions provided by the other Canadian securities
regulators). 

In accordance with the Financial Conduct Authority’s guidance published on March
26, 2020 regarding the extension of reporting full year results for listed
companies subject to Chapter 4 of the Disclosure Guidance and Transparency Rules
from 4 months to 6 months, the Company will publish its audited results for the
year to March 31, 2020 on or before September 30, 2020. 

Until the Company has filed the Year-End Filings, members of the Company's
management and other insiders are subject to an insider trading black-out policy
that reflects the principles in section 9 of National Policy 11-207 –
Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

An update on material business developments since the filing of the Company's
interim financial statements and accompanying MD&A for the period ended December
31, 2019 is described below, certain of which have already been disclosed in
prior public announcements:

•	On June 25, 2020, the Company announced it completed the handover process (the
“Handover”) of the Contract Rehabilitation Area to SOCAR in the Republic of
Azerbaijan. As a result of the Handover, Zenith has ceased all oil production
operations in Azerbaijan and all field production personnel, approximately 170
employees, have been transferred to a division of SOCAR.

•	On June 9, 2020, the Company completed a private placement to raise an
aggregate total amount of approximately NOK 7,600,000 (approximately £645,000)
through the issuance of 80,000,000 common shares of no-par value in the capital
of the Company.

•	Effective May 29, 2020, the Company’s common shares were voluntarily delisted
from the TSX Venture Exchange.

•	On May 5, 2020 the Company completed the acquisition from AIM listed Anglo
African Oil & Gas plc of a 100 percent interest in its fully owned subsidiary in
the Republic of the Congo, Anglo African Oil & Gas Congo S.A.U., which has a 56
percent majority interest in, and is the operator of, the Tilapia oilfield for
total consideration of £200,000.

•	On May 5, 2020, the Company completed a private placement to raise an
aggregate total amount of approximately £540,000 or NOK 6,600,000 or CAD$900,000
through the issuance of 60,000,000 commons shares of no-par value in the capital
of the Company.

•	On April 20, 2020, the Company announced that its newly created wholly owned
subsidiary Zenith Energy Netherlands B.V. ("Zenith Netherlands") had signed a
conditional sale and purchase agreement ("SPA") with KUFPEC (Tunisia) Limited
("Seller"), a 100% subsidiary of Kuwait Foreign Petroleum Exploration Company
K.S.C.C, a subsidiary of the State of Kuwait's national oil company, for the
acquisition of a working interest in, inter alia, the North Kairouan permit and
the Sidi El Kilani Concession (the "Tunisian Acquisition"), which contains the
Sidi El Kilani oilfield ("SLK").  The Seller holds an undivided 22.5% interest
in the Tunisian Acquisition, together with 25 Class B shares in Compagnie
Tuniso-Koweito-Chinoise de Pétrole (CTKCP), the operator, representing 22.5% of
the issued share capital of the company.  Zenith's partners in the Tunisian
Acquisition will include the national oil company of Tunisia, Entreprise
Tunisienne d'Activités Pétrolières (ETAP) with a 55% interest and CNPC, China
National Petroleum Corporation with a 22.5 % interest.  The Seller has agreed to
sell, assign and transfer to Zenith Netherlands the Tunisian Acquisition on the
terms and subject to the conditions set out in the SPA.  
•	On April 8, 2020, the Company completed a private placement to raise an
aggregate total amount of approximately £525,000 or NOK 6,750,000 or CAD$921,000
through the issuance of 75,000,000 commons shares of no-par value in the capital
of the Company.

•	On February 17, 2020, the Company completed a private placement to raise an
aggregate total amount of approximately £300,000.00 through the issuance of
20,000,000 commons shares of no-par value in the capital of the Company.

Further Information:

Zenith Energy Ltd	
Andrea Cattaneo, Chief Executive Officer	Tel: +1 (587) 315 9031
	E-mail: info@zenithenergy.ca

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.
Reader Advisory
Forward Looking Statements.  Certain statements contained in this press release
may constitute forward-looking information. These statements relate to future
events or future performance. The use of any of the words "could", "intend",
"expect", "believe", "will", "projected", "estimated", "proposed" and similar
expressions and statements relating to matters that are not historical facts are
intended to identify forward-looking information and are based on the Company's
current believe or assumptions as to the outcome and timing of such future
events. Such forward-looking information is subject to risks and uncertainties
that may cause actual results, performance or developments to differ materially
from those contained in the statements. In particular, this press release
contains forward-looking information relating to the anticipated filing of the
Year-End Filings and the completion of the Tunisia Acquisition. Various
assumptions or factors are typically applied in drawing conclusions or making
the forecast or projections set out in forward-looking information. Those
assumptions and factors are based on information currently available to the
Company. The forward-looking information contained in this press release is made
as of the date hereof and the Company is not obligated to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, except as required by applicable securities laws. Because
of the risks, uncertainties and assumptions contained herein, investors should
not place undue reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information contained herein.