Zenith Energy

Regulatory Filings • Aug 24, 2020

Termination of Market Making Agreement with Norne Securities AS

Termination of Market Making Agreement with Norne Securities AS

August 24, 2020

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Termination of Market Making Agreement with Norne Securities AS

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:ZENA-ME), the listed international oil & gas production company, announces that it has terminated the Market Making Agreement (the “Agreement”) with Norne Securities AS (“Norne”), first announced to the market on October 1, 2019.

As publicly reported at the time of entering into the Agreement with Norne, the purpose of the Agreement was to enhance the liquidity of the Company’s listing on the Merkur Market of the Oslo Stock Exchange.

The Company is satisfied with the recent levels of liquidity and believes the Agreement is no longer required.

The effective date of the Agreement’s termination will be August 31, 2020.

This information is in accordance with the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Further Information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 9031

E-mail: info@zenithenergy.ca

Allenby Capital Limited - Financial Adviser & Broker

Nick Harriss

Nick Athanas Tel: + 44 (0) 203 328 5656

Notes to Editors:

Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Merkur Market of the Oslo Stock Exchange (ZENA:ME).

Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically in Africa. The Company's board of directors and senior management team have the experience and technical expertise to develop the Company successfully.