Zenith Energy Ltd (TSX:LON:ZEN) Drilling Programme and Well Perforation Activities

Andrea Cattaneo, Chief Executive Officer of Zenith, commented: We are taking all the necessary steps to materially increase our daily production of oil and formulate a clear plan to optimise the execution of our potentially transformational drilling activities. I look forward to providing further information regarding these operations in due course

Zenith Energy Ltd., (“Zenith” or the “Company”), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to provide an update on its drilling programme and well perforation activities.

Drilling Programme

The Company has evaluated a number of drilling locations to follow planned drilling operations in well C-30. As previously announced, mobilisation of Zenith’s 1,200hp drilling rig to the C-30 well location is expected to take place before the end of October 2019.

As part of its planned future drilling programme, Zenith has identified well M-247, located in the south-western part of the Muradkhanli oilfield, as a highly prospective geological target for well deepening or sidetrack operations targeting the Middle Eocene and Upper Cretaceous formations.

Well M-247 is currently not in production and last produced at a rate of approximately 200 barrels of oil per day in 1990.

The well is located in the proximity of Lake Sarisu and it is expected that a series of civil works will be required to render the location fully accessible during the winter season.

Well Perforation Activities

The Company’s geological team in Azerbaijan has identified a number of wells in the Muradkhanli oilfield in which perforations of selected untapped intervals are expected to generate additional oil production.

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Zenith expects to begin performing the first perforation activities during the next ten days and will provide updates as the activities progress.

 

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