2019 INVESTOR PRESENTATION - Zenith Energy
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2019 INVESTOR PRESENTATION
DISCLAIMER
This document (the “Presentation”) has been prepared by and is the sole responsibility of Zenith energy Ltd. (“Zenith”). All information used in the Presentation has been compiled from
2019 publicly available sources that are believed to be reliable. However, because of possible human or mechanical error by Zenith, its affiliates or its sources, Zenith cannot guarantee the
INVESTOR accuracy, validity, timeliness or completeness of any information provided for in this Presentation.
PRESENTATION No guarantee, warranty or representation, express or implied, can be given by Zenith as to the accuracy, adequacy or completeness of the information contained in this Presentation and
they are not responsible for any errors or omissions or results obtained from use of such information. Neither Zenith, nor any affiliates, officers, directors or employees accept any liability or
responsibility in respect of the information which is subject to change without notice and may only be correct at the stated date of their issue, unless in case of gross negligence, fraud or
wilful misconduct Zenith expressly disclaims any warranties of merchantability or fitness for a particular purpose. In no event will Zenith, its affiliates or any such parties be liable to you for
any direct, special, indirect, consequential, incidental damages or any other damages of any kind even if Zenith have been advised of the possibility thereof.
The Presentation has been prepared purely for information purposes, and nothing in this report should be construed as an offer, or the solicitation of an offer, to buy or sell any security,
product, service or investment. The Presentation reflects the objective views of Zenith and does not constitute investment advice.
The information provided in this document is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to
law or regulation or which would subject Zenith or its affiliates to any registration requirement within such jurisdiction or country.
The fact that Zenith has made available through this Presentation various information this constitutes neither a recommendation to enter into a particular transaction nor a representation that
any financial instrument is suitable or appropriate for you. Each investor must make their own independent decisions and obtain their own independent advice regarding any information,
projects, securities, or financial instruments mentioned herein.
The Presentation includes statements that are, or may be deemed to be, “forward-looking statements”. These forward looking statements can be identified by the use of forward-looking
terminology, including the terms “believes”, “envisages”, “estimates”, “anticipates”, “projects”, “expects”, “intends”, “may”, “will”, “could”, “seeks” or “should” or, in each case, their negative
or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include matters that are
not historical facts and speak only as of the date of the Presentation. They appear in a number of places throughout the Presentation and include statements regarding Zenith and the directors
of Zenith’s current intentions, beliefs or expectations concerning, amongst other things, investment strategy, financing strategy, performance, results of operations, financial condition,
liquidity, prospects, growth, strategies and the industry in which Zenith operates.
The receipt of this document by any person is not to be taken as constituting the giving of investment advice by Zenith to any to any such person.
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permission from Zenith
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This notice shall be governed and construed in accordance with English law.
A TRIPLE-LISTED INTERNATIONAL OIL & GAS
PRODUCTION MID-CAP IN THE MAKING
2019
INVESTOR Operating the largest onshore oilfield in Azerbaijan by cumulative acreage.
PRESENTATION
Producing natural gas, electricity and condensate in Italy
Development Recent Highlights METRICS
strategy defined by: Assigned a medium to long-term issuer KEY SHAREHOLDERS:
credit rating of “B+” with Positive Outlook Board of Directors,
on October 8, 2018 by Arc Ratings S.A. Mirabaud & Cie (Europe) SA,
• Acquiring and developing assets Miton UK Microcap Trust PLC,
with untapped reserves and existing Admitted to trading on the Merkur Market Mr. Dean Clark
production of the Oslo Børs on November 8, 2018
STOCK TICKER
Issue and listing of EURO 3,120,000 unsecured (LSE: ZEN / TSX.V:ZEE /
• Strong positioning in stable, secular
corporate notes on the Third Market (MTF) of OSE: ZENA-ME)
and democratic countries against a
the Vienna Stock Exchange.
favourable backdrop of resurgent oil MARKET CAP CIRCA
£9M
prices
• Maximising revenue by implementing Significant development
low-cost oil production models potential SHARES IN ISSUE
• Decreasing reliance on external
oilfield service companies by
• Independently assessed 2P reserves of 31.7
million barrels of oil in Azerbaijan and 16.4 BCF
of natural gas in Italy
312.4M
(the above figure represents the common shares In issue and admitted
acquiring and operating key to trading on the Merkur Market of the Oslo Børs and the TSX Venture
Exchange. The number of common shares admitted to trading on the
equipment required for long-term London Stock Exchange Main Market remains 258.4 million)
asset development
• Plans to perform highly prospective drilling
activities during 2019 to ‘prove’ potentially NET PRESENT VALUE (NPV)
transformational Azerbaijan asset using DISCOUNTED AT 10%: US$483M
SLIDE recently acquired 1,200hp drilling rig
01 operated by Italian personnel — AZERBAIJAN: US$469M
— ITALY: US$14M
PORTFOLIO OVERVIEW
2019 11
INVESTOR
PRESENTATION
11
AZERBAIJAN 11
1
Largest onshore 11
5
oilf ield in Azerbaijan 1
1
by cumulative acreage 5
1
Average daily production of ITALY
oil in Azerbaijan: 6 operated and
3 non-operated natural gas concessions
270 BARRELS — Gross Italy energy production revenue
— 2P reserves: 31.7 million barrels of oil for December 2018: €65,000
— NPV discounted at 10%: US$469M — 2P reserves: 16.4 BCF of natural gas
— Historical peak daily production: 15,000 Barrels — NPV discounted at 10%: US$14M
Average all-in Oil production Gross Azerbaijan oil Daily Italian Average monthly
production target by Dec 31, production revenue energy production
cost per barrel: 2019: for December 2018: production: of electricity:
US$19 1,000 US$450,000 55 BOE 900 MWH
BARRELS
SLIDE
02 PER DAY
AZERBAIJAN DAILY
AZERBAIJAN – OIL PRODUCTION
‘LAND OF FIRE’, BIRTHPLACE OF OIL 797,000
2019
BARRELS
INVESTOR
PRESENTATION KULEVI
GEORGIA RUSSIA
Azerbaijan is the world’s oldest
oil producing country TBILISI
• CASPIAN
Low-risk developing country with highly
SEA
favourable oil production environment Guba-Khachmaz
Shaki-Zaqatala
• Democratic, stable and secular government
Absheron
Daghlig
• Azerbaijan’s economy is underpinned by its Shirvan DUBENDI
Ganja-Gazakh
oil and gas industry, producing on average
0.79 million barrels of oil per day
BAKU
ARMENIA
• Population: 9.7 Million Kalbajar- BP operated
Lachin Sangachal
ARAN
• Transformational oil and and gas Yukhari
ECONOMIC
Terminal
Garabagh
production operations in the Caspian Sea REGION
by oil majors including BP, Statoil and Total
Shah Deniz Field
Nakhchivan
• Southern Gas Corridor, one of the largest IRAN
gas developments in the world, expected to
provide highly significant long-term support SCP
Lankaran
Absheron Field
to Azerbaijan economy BTC
BAKU–NOVOROSSIYSK OIL PIPELINE
• Government focus on large-scale BAKU-SUPSA WESTERN EXPORT PIPELINE
modernisation policies. Azerbaijan’s
capital, Baku, is an increasingly
modern city GDP (2017) PROVEN OIL RESERVES: Q4 2018 OIL PRODUCTION:
SLIDE
03
US$40.7 7 BILLION 68.5 MILLION
BILLION BARRELS BARRELS
ZENITH DAILY ACTIVE
ZENITH IN AZERBAIJAN OIL PRODUCTION PRODUCTION
WELLS
270
2019
INVESTOR
High-margin low-cost oil production from the largest
onshore oilfield by cumulative acreage in the country BARRELS 34
PRESENTATION
Zenith is the only junior independent KULEVI Supsa
operator in Azerbaijan. GEORGIA RUSSIA
TBILISI
• 25-year REDPSA, (Rehabilitation, Exploration and
Production Sharing Agreement), with SOCAR, (State C
Oil Company of the Azerbaijan Republic), signed in Shaki-Zaqatala
Guba-Khachmaz
2016
Absheron
Daghlig
• 80% participating interest in the three Ganja-Gazakh
Shirvan DUBENDI
contingent oilfields comprising the REDPSA area -
Muradkhanli, Jafarli and Zardab. SOCAR retains the BAKU
ARMENIA
remaining 20% interest Tanker Kalbajar- BP operated
access road Lachin Sangachal
to Shirvan ARAN Terminal
oil terminal Yukhari
• The REDPSA signed between Zenith and
ECONOMIC
Garabagh
REGION
Zardab Muradkhanli
SOCAR has been enacted by Azerbaijan’s
EX
IS
TI
N
legislature into national law, having received
G
3D
Kura River
Nakhchivan
SE
IS
IRAN
M
all the necessary approvals
Exploration
IC
area of REDPSA
Oil Storage Lankaran
& Processing
• All-in average production cost per barrel: US$19 Area of interest
for Development
Drilling Programme
• Oil production transported by tanker to local 10 KM
Jafarli
oil terminal, named Shirvan, located approximately EXISTING 3D SEISMIC Well C-37
Deepening
Operation
125 kilometres from field Imishli
• Plan to perform two well deepening operations in
the Jafarli Field to be followed by the spudding of
a new well in the Muradkhanli Field (ZEN-01).
REDPSA AVERAGE 2P OIL WELLS CAPABLE
• Production target: 3,000 barrels per day by AREA WELL DEPTH RESERVES OF PRODUCTION
SLIDE
the close of 2020 to be achieved via systematic
drilling programme. Projected all-in production cost 642.4 3,812 31.7 MILLION 75
04 of approximately US$9 per barrel once this rate of
production is achieved
KM2 METRES BARRELSShaki-Zaqatala
Absheron
Daghlig
Shirvan DUBENDI
Ganja-Gazakh
LARGEST ONSHORE OILFIELD IN AZERBAIJAN
BAKU
ARMENIA
Kalbajar- BP operated
Lachin Sangachal
ARAN Terminal
BY CUMULATIVE ACREAGE
Yukhari
ECONOMIC
Garabagh
REGION
Nakhchivan
Field Geography
IRAN
2019 Lankaran
INVESTOR
PRESENTATION
KULEVI Supsa
GEORGIA RUSSIA
Tanker TBILISI
access road
to Shirvan Guba-Khachmaz
oil terminal
Shaki-Zaqatala
Absheron
Daghlig
Shirvan DUBENDI
Ganja-Gazakh
Zardab Muradkhanli
BAKU
ARMENIA
BP operated
EX
Kalbajar-
Lachin Sangachal
IS
ARAN Terminal
Yukhari
TI
ECONOMIC
Garabagh
N
REGION
G
3D
Kura River
SE
Nakhchivan
IRAN
IS
M
Exploration
IC
Lankaran
area of REDPSA
Oil Storage
& Processing
Area of interest
for Development
Drilling Programme
Jafarli
10 KM
EXISTING 3D SEISMIC Well C-37
Deepening
Operation
SLIDE Imishli
05AZERBAIJAN FIELD DEVELOPMENT
Journey So Far
2019
INVESTOR
PRESENTATION 2018 2019
Decision to shut-in Installation of 11 Approximately Deployment Order of ancillary
31 production modern electrical £1.3 million of of A-100 drilling equipment
wells in the submersible Chinese oil workover for a total of
Muradhkhanli and pumps in the production rig to field EURO 722,000.
Jafarli oilfields that Muradkhanli & materials operations Shipment currently
were performing Jafarli oilfields delivered to expected in in progress to
uneconomically field operations April 2019 Azerbaijan with
with a watercut of in Azerbaijan BD-260 drilling rig
99 per cent
Completion of two Line pipe Oil storage tank 1,200hp BD-260
comprehensive replacement reconstruction in drilling rig currently
geological studies programme progress with first being transported to
to optimise ongoing to 2,000 m3 tank now field operations in
selection of drilling modernise field undergoing safety Azerbaijan from Italy
locations across the infrastructure testing. Work on
SLIDE Muradkhanli, Jafarli second tank expected
06 and Zardab oilfields to start in June 20192019 OPERATIONAL OBJECTIVES IN AZERBAIJAN
Strategy Overview
2019
INVESTOR
PRESENTATION 2019 2020
Identify Identify and isolate Spud a new well
bypassed pay water source in a (ZEN-01) using
zones in number of shut-in Zenith’s BD-260
shut-in wells wells to achieve 1,200hp drilling rig to
economically viable appraise large Upper
production with Cretaceous formation
significantly reduced structure identified in
water cut the Muradkhanli Field
Maximise production Complete Utilise the Company’s Perform two
from 34 active comprehensive two workover rigs to well deepening
production wells reservoir perform high- operations to test
across Zenith’s engineering intensity well Upper Cretaceous
acreage through and preparation for formation in
the performance of petrophysical deepening activities the Jafarli Field
systematic workover study during the first six
SLIDE activities months of 2019
07DEEPENING OF WELL C-37, An adjacent well to C-37, C-22,
JAFARLI FIELD achieved a production of
2019
INVESTOR
PRESENTATION
700 BOPD
BACKGROUND PLAN OF ACTION
Drilled in 2008 by SOCAR to a Zenith’s geological and 1. The Company’s A-80 workover rig has
reservoir investigations have completed all preparatory work for well C-37
total depth of 3,987 metres deepening operations. These activities have
resulted in the identification
included pulling the electrical submersible
a new structure in the
Produced at a rate of 5 Middle Eocene and Upper
pump out of hole and subsequently running
in hole with a scraper to the production
barrels per day following the Cretaceous formations of casing shoe at a depth of 3,904 metres,
installation of an electrical the Jafarli Field Complete
as well as performing a series of well
submersible pump investigations by wireline. The estimated
The identified structure saving achieved by utilising Zenith’s A-80
measures approximately 3 workover rig to complete these activities has
Historical well data indicates square kilometres with a been assessed as approximately US$250,000.
that an adjacent well, C-22, significant degree of closure
2. Deepen well C-37’s total depth, 3,987
achieved an initial production indicated by a thickness of
metres, by 15-20 metres into the Middle
rate of 700 barrels per day from approximately 100 metres
Eocene formation and subsequently perform
the Middle Eocene formation a production test. The Company believes
Zenith has formulated there may be significant reserves in place to
when drilled in 1986 a highly prospective two- be produced from this formation on account
stage drilling programme to of historical production data from well C-22
bring potentially significant
reserves from the Middle 3. Following the completion of drilling
Eocene and Upper activities in the Middle Eocene formation
Cretaceous formations target zone, Zenith will proceed with
into production deepening well C-37 by approximately
SLIDE 200-250 metres to penetrate the Upper
08 Cretaceous formation and test the fluid
content of this new, unexploited structurePLIOCENE
WELL 1500M
DEEPENING ACTIVITIES IN WELL C-37, JAFARLI FIELD
C30 C22 C37 C26
2019 w 2000M
E
INVESTOR 0M
PRESENTATION (Karagan – Pontian)
0.37km South
= PRODUCTION WELL
500M MIOCENE
2500M
(Chokrak) = TARGET ZONE
1000M QUATERNARY TO
PLIOCENE
= NEW, UNEXPLOITED
3000M TARGET ZONE
1500M OLIGOCENE
LOWER MIOCENE = FIRST STAGE OF
DRILLING OPERATIONS
2000M
(Maykop) = SECOND STAGE OF
DRILLING OPERATIONS
3500M (Karagan – Pontian)
AREA OF INTEREST
MIOCENE UPPER EOCENE
2500M
(Chokrak)
4000M
3000M MIDDLE EOCENE
OLIGOCENE
LOWERLOWER EOCENE
MIOCENE
(Maykop)
3500M 4500M
UPPER EOCENE UPPER CRETACEOUS
4000M
MIDDLE EOCENE LOWER EOCENE
5000M
LOWER EOCENE
PALAEOCENE
4500M
UPPER CRETACEOUS
SLIDE
09 5000MDRILLING OF NEW WELL IN THE MURADKHANLI FIELD
M-38 M-40 M-12 ZEN-01 M-205 M-23 M-24
2019
INVESTOR
CHOKRAK CHOKRAK
PRESENTATION
3000M NEW
APPRAISAL
WELL
MAYKOP MAYKOP
3500M
UPPER
EOCENE
4000M
MIDDLE-
UPPER LOWER
EOCENE EOCENE
PALEOCENE
MARLS
UPPER
UPPER CRETACEOUS
EOCENE VOLCANICS
4500M
MIDDLE LOWER
EOCENE
PALEOCENE
MIDDLE LOWER
EOCENE
MARLS
Identification of a previously
UPPER
CRETACEOUS unexplored Mesozoic carbonate
5000M TA R G E T CARBONATES
prospect in the Muradkhanli
Oil
SLIDE
Water
and Jafarli oilfields
10Z–21
Z–4 Z–14 Z–3 Z–28 NEW WELL
DEVELOPMENT
OF ZARDAB FIELD
2019 • Zardab is the least developed field in
INVESTOR Zenith’s REDPSA area
PRESENTATION
• Zenith’s 2018 CPR does not include any Time
mSec
assessment of the reserves in this field
PLIOCENE
• A number of wells drilled in Zardab
achieved high production rates for a short 2000
time before clogging-up with sand and
becoming shut-in
• Zenith believes large quantities of
recoverable oil remain in place and MIOCENE
ageological study to optimise the
2500
selection of new drilling and workover
opportunities has been completed
CHOKRAK
Z-3 was spud in 1979 and drilled to a
total depth of 4,300 metres into the
NEW WELL Eocene and Cretaceous formations. 3000
MAYKOP
It tested approximately 2,900 barrels
of mixed hydrocarbons per day from
the Eocene formation before the
wellbore collapsed EOCENE
3500
= TESTED & PRODUCED
HYDROCARBONS
= HYDROCARBON CRETACEOUS
SHOWS
SLIDE
11 = POTENTIAL
4000
HYDROCARBONS
SEISMIC LINE INTERPRETATIONWORKING INTERESTS IN
ITALY - CASH GENERATING 368.96 KM2
ENERGY PRODUCTION OF ITALIAN NATURAL
GAS PRODUCTION
2019 A low-risk jurisdiction with a strong EU regulatory framework CONCESSIONS
INVESTOR
PRESENTATION and favourable petroleum industry tax and royalty regime
Italy has a long and successful SOUTHERN GAS
CORRIDOR - TAP
history of natural gas production
PRODUCTION
and exploration across its territory CONCESSIONS
ITALIAN NATIONAL
• Balanced energy production portfolio Genoa PIPELINE
INFRASTRUCTURE
providing cashflow with stable low-cost
natural gas production
• Moderate investment expected to achieve
ADRIATIC
significant increase in natural gas production SEA
• Highly profitable electricity is produced at ROME
the Torrente Cigno concession using low-
grade sour gas production
• Gross Italy energy production revenues for
December 2018: €65,000
• Italy’s economy is heavily dependent on oil
and gas
MEDITERRANEAN
SEA
NATURAL GAS
2P RESERVES
CONDENSATE
2P RESERVES 6 OPERATED
CONCESSIONS
2 EXPLORATION
PERMITS
MONTHLY
ELECTRICITY
NPV
DISCOUNTED
16.4 257 PRODUCTION: AT 10%
SLIDE
12 BCF MBBLS 3 NON-OPERATED
CONCESSIONS
2 EXPLORATION
PERMITS AWAITING
APPROVAL
900 MWh US$14MOPERATIONAL STRATEGY
2019
INVESTOR $
PRESENTATION
Perform systematic well Achieve successful Maximise Azerbaijan oil Utilise recently acquired
deepening and sidetrack execution of work revenue against a backdrop 1,200hp drilling rig to to drill an
activities in preparation programme to obtain of strengthened oil prices appraisal well targeting a large,
for systematic drilling ‘proof of concept’ - currently generating a unexploited Upper Cretaceous
programme regarding Azerbaijan revenue of approximately formation structure identified
asset development US$450,000 with existing in the Murdakhanli Field
strategy production following extensive geological
investigations completed during
the past 12 months
Continue to perform Acquire a 2,000hp drilling
field rehabilitation and rig from an internationally
workover activities using renowned manufacturer
the Company’s workover in an operating lease
rigs in wells with verified financing arrangement
well data
SLIDE
13CORPORATE STRATEGY
2019 B+
INVESTOR €
PRESENTATION
Build upon successful listing of Intention to improve the Reduce exposure to convertible
corporate bonds on the Vienna Company’s recently assigned loan facilities to mitigate equity
Stock Exchange to reach target of medium to long-term issuer dilution
€10 million to be invested directly credit rating of “B+, with Positive
in Zenith’s development and Outlook” to “BB” to facilitate
increase non-dilutive financing debt financing
$
Maximise cost control to fulfil Intention to pay dividend to Further enrich portfolio by
low-cost company structure and shareholders in the event of acquiring large undeveloped
ensure profitability successful operational performance onshore hydrocarbon
production assets
SLIDE
14SUMMARY INVESTMENT CASE
2019 Development of Italian Highly experienced
INVESTOR
PRESENTATION assets expected to operational team in
increase natural Azerbaijan with a proven
gas and electricity track-record of success
production revenue in onshore oil projects
Strong fundamentals Large reserve base Internationally
with profitable with independently connected Board of
low-cost existing assessed 2P reserves Directors fully aligned
production, generating of 31.7 million barrels with shareholder
significant monthly of oil in Azerbaijan interests, holding large
revenue against a and 16.4 BCF of stakes in the capital of
backdrop of rising natural gas in Italy the Company. Chief
oil prices Executive Officer,
Andrea Cattaneo, has
elected to be fully
Ready availability Intention to develop remunerated in equity
of equipment and the Company using for two consecutive
technical personnel stringent due diligence years since Zenith’s
required for field criteria to exploit value- listing on the London
development accretive development Stock Exchange
operations in opportunities
SLIDE Azerbaijan and Italy
15TEAM
Executive Directors & Senior Management
2019
INVESTOR
PRESENTATION
Luca Benedetto Luca Benedetto trained in Italy as a registered accountant
Chief Financial Officer with further education in IFRS accounting and consolidation
at IPSOA Milan. He has more than twenty-five years
(UK based)
of accounting, auditing and financial administration
experience.
Andrea Cattaneo Luigi Regis Milano Luigi has more than 40 years of experience in the petroleum
Executive Director, industry during which he has been the executive director
Chief Executive Officer & of a large trading company specialised in oil refining,
President (Azerbaijan based) Managing Director
processing and trading. Luigi has held a significant interest
of Italian Operations in an Italian oil refinery since 2000. Luigi is one of Zenith’s
(Italy based) founders and currently serves as Managing Director of the
Proven deal maker and government Company’s Italian subsidiary.
advisor with specifc expertise in
former Soviet Union countries.
He has more than 30 years of Ion Tica Mr. Tica is a well operations and engineering executive with
Workover & over 28 years of international experience in drilling and
experience in sovereign loans, capital
heavy workover operations. He joins the Company from the
markets and oil trading between Drilling Manager
Western and emerging countries. Arawak Energy group where he spent more than 10 years
(Azerbaijan based) working in Azerbaijan and Kazakhstan. He previously worked
At the beginning of his career he
pioneered financial engagement 17 years for OMV Petrom in Romania and Kazakhstan in
with Vietnam during the post-war various technical and management positions.
period and organised the first USD
denominated loan to the country
Augusto Rossato Augusto is a senior geologist with a proven track-record
after the Vietnam War. He currently of operational success in South America, Southern
serves as a Non- Executive Member Senior Geologist
Europe and Africa. He has over 30 years of experience
of the Anglo-Azerbaijan Society and (Azerbaijan based)
working for oil majors including Elf, Total, OMV and Eni
Partner of the Buenos Aires Stock
Exchange. He is one of Zenith’s
founders and largest shareholders. Dr. Narmina Garayeva PhD degree in Reservoir Engineering and 30 years’
Senior Reservoir Engineer experience acquired with small independent and
major international oil companies. Broad technical
(Azerbaijan based)
SLIDE understanding of other disciplines including geology,
16 drilling, and production operations across Azerbaijan,
West Africa, North Sea, Middle East, Russia, Kazakhstan.TEAM
Non-Executive Directors
2019
INVESTOR
PRESENTATION
Dr. José Ramón Dr. Dario Sodero Saadallah Al-Fathi Erik Sture Larre Jr Sergey Borovskiy
López Portillo Non-executive Non-executive Non-executive Non-executive
Chairman and Non- Director, Director Director Director
executive Director, (Canada based) (Austria based) (Norway based) (China based)
(UK based)
Experienced energy Norwegian national Sergey has over 25 years
Former Mexican industry executive Former Head of with strong expertise in of experience in business
Ambassador to Food and with strong geological, OPEC’s Energy Studies large-scale real estate management in China
Agriculture Organisation technical and exploration Department. Award- development projects, and Hong Kong, he is
(United Nations) and expertise in North winning oil and gas banking and the oil & fluent in Russian, English
Minister in Mexican America, North Africa and industry researcher and gas industry. Erik served and Mandarin and holds
Federal Government. the Middle East. Holds a columnist. Has served as Deputy Chairman of a degree in economics
Leading researcher on the doctorate in Geological as Government and SpareBank 1 Nord-Norge CEO and Chairman
energy security of Mexico. Sciences from the private advisor. Joint and as Chairman of its of various oil & gas
He is also the Former University of Turin, Italy. winner of the 2016 Audit Committee. consulting, engineering,
Chairman of the FAO scientific research award trading, chemical, seismic
council. Holds a doctorate of the Organization of the research and exploration
f rom the University Arab Petroleum Exporting services companies based
of Oxford in political Countries. in China and Hong Kong.
science and international
relations.
SLIDE
17CONTACT Zenith Energy Ltd.
Andrea Cattaneo
Chief Executive Officer
E-mail: info@zenithenergy.ca
Tel: +1 (587) 315 9031
Novum Securities Limited - (Joint Broker)
Charlie Brook-Partridge
Hugh McAlister
Tel: + 44 (0) 207 399 9400
Allenby Capital Limited - (Financial Adviser)
Nick Harriss
Nick Athanas
Tel: + 44 (0) 203 328 5656
Peterhouse Capital (Joint Broker)
Tel: + 44 (0) 207 469 0930
Lucy Williams
Charles Goodfellow
SLIDE
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