Zenith Energy Ltd - Africa and Italy-focused oil and gas company - Completes private placement in the UK and Norway. Raises £1.3 million in total, resulting in the issue of 37.9 million shares. Shares are priced at £0.03 for the UK financing and NOK0.42 for Norwegian financing.

‘The proceeds of the financings will be used to fund the company’s publicly announced acquisition campaign in the US, to provide additional funding for Zenith’s existing production and development portfolio in Italy, as well as for general working capital purposes,’ Zenith says.

Current stock price: 2.80 pence

12-month change: down 61%

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