Conservative seizure of ETAP bank account
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Conservative seizure of ETAP bank account
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, is pleased to announce that it has successfully obtained a 'conservative seizure' for an amount equivalent to approximately US$6.5 million deposited in a bank account in Switzerland under the name of ETAP, Entreprise Tunisienne d'Activités Pétrolières, the national oil company of the Republic of Tunisia (the "Conservative Seizure").
The Conservative Seizure has been undertaken to avoid the risk of funds being dissipated or diverted while legal proceedings are ongoing.
On June 7, 2023, the Company announced that its subsidiaries had initiated various legal proceedings against the Republic of Tunisia, with a total cumulative claimed amount of at least US$48 million.
Zenith will provide further updates as appropriate in accordance with developments.
("Zenith" or the "Company")
Conservative seizure of ETAP bank account
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, is pleased to announce that it has successfully obtained a 'conservative seizure' for an amount equivalent to approximately US$6.5 million deposited in a bank account in Switzerland under the name of ETAP, Entreprise Tunisienne d'Activités Pétrolières, the national oil company of the Republic of Tunisia (the "Conservative Seizure").
The Conservative Seizure has been undertaken to avoid the risk of funds being dissipated or diverted while legal proceedings are ongoing.
On June 7, 2023, the Company announced that its subsidiaries had initiated various legal proceedings against the Republic of Tunisia, with a total cumulative claimed amount of at least US$48 million.
Zenith will provide further updates as appropriate in accordance with developments.
Redigert 10.07.2023 kl 11:08
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