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Zenith Energy Ltd. V.ZEE

"Zenith Energy Ltd was incorporated on September 20, 2007. The Company is a junior international oil & gas production company. It operates the onshore oilfield of Azerbaijan and has a number of gas producing concessions in Italy."


TSXV:ZEE - Post by User

Post by JamJam123on Jan 13, 2017 11:14am
65 Views
Post# 25704240

Started making money from nov

Started making money from nov Andrea Cattaneo, CEO & President, comments, 'Zenith is exceptionally pleased with the rapid progression of commercial activity in Azerbaijan and delighted to note that the first payment for crude oil from the Muradxanli oil field was received two days in advance of the due date. The second payment further validates our confidence in the process. These are landmark events for the Company as it signals the initiation of a new income stream with significant growth potential and confirms for shareholders that payment terms have been quickly and efficiently respected. Already at a production rate of 300 barrels per day, these payments equate to approximately $360,000 US per month. While management has always been confident in the quality and credibility of our buyer, SOCARMO, we believe it is important to communicate these results to our international investors so that they may share our confidence. Given the region's extensive energy infrastructure and its proven functionality, Zenith is prepared to increase the scale of its activities. It is our plan to reinvest significant operational cash flow to generate sustainable ongoing investment into the development and optimization of our fields'.
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