4th Jul 2023 16:20
Zenith Energy Ltd - Africa, Middle East and Europe-focused energy production and development company - On Monday, says its fully owned subsidiary Anglo African Oil & Gas Congo SAU has been awarded a payment of compensatory damages by the Paris Commercial Court in its claim against SMP Energies, the rig contractor that performed drilling services in wells TLP-103 and TLP-103C of the Tilapia oilfield during 2018 to 2019. SMP Energies is ordered to pay EUR30,000 to Anglo African.
Chief Executive Andrea Cattaneo comments: "The court's decision has symbolic value for Zenith insofar as it suggests that our steady and resilient approach to our African operations eventually does bear fruit."
Current stock price: 0.39 pence, up 7.1%
12-month change: down 48%
By Heather Rydings, Alliance News senior economics reporter
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