September 22, 2023             

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Share Consolidation

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, announces that the share consolidation in relation to its common shares of no par value ("Common Shares") that are admitted to trading on the FCA Official List and to trading on the Main Market of the London Stock Exchange announced on 20 September 2023 (the "Consolidation") is being temporarily delayed. 

The Company has identified that the number of those Common Shares that are admitted to trading on the FCA Official List and to trading on the Main Market of the London Stock Exchange had been incorrectly stated as 1,931,370,745; the correct number is 1,919,949,343.

A revised Consolidation timetable will be provided shortly.

Further Information:

Notes to Editors:                                           

Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in North Africa and Europe, including electricity generation in Italy. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).

Zenith's strategic focus is on pursuing development opportunities through the development of proven revenue generating energy production assets, as well as low-risk exploration activities in assets with existing production.

For more information, please visit:  www.zenithenergy.ca

Twitter: @zenithenergyltd

LinkedIn:  https://bit.ly/3A5PRJb