Zenith Energy Ltd - Africa, Middle East and Europe-focused energy production and development company - On Monday, says its fully owned subsidiary Anglo African Oil & Gas Congo SAU has been awarded a payment of compensatory damages by the Paris Commercial Court in its claim against SMP Energies, the rig contractor that performed drilling services in wells TLP-103 and TLP-103C of the Tilapia oilfield during 2018 to 2019. SMP Energies is ordered to pay €30,000 to Anglo African.

Chief Executive Andrea Cattaneo comments: ‘The court’s decision has symbolic value for Zenith insofar as it suggests that our steady and resilient approach to our African operations eventually does bear fruit.’

Current stock price: 0.39 pence, up 7.1%

12-month change: down 48%

Copyright 2023 Alliance News Ltd. All Rights Reserved.