Zenith Provides Update on Two Italian Properties in Puglia Region

CALGARY, AB / ACCESSWIRE / May 19, 2015 / Zenith Energy Ltd ("Zenith" or the "Company") (TSX VENTURE: ZEE), is pleased to announce that for the period April 1, 2014 - March 31, 2015, total production from its wholly owned Italian subsidiary increased by 16.8% in the Puglia Region compared to the corresponding period in the prior year. This outcome is mainly due to an improved performance of the Masseria Vincelli 1 well, in the Torrente Cigno Concession (45% WI). Following careful reservoir management, the Masseria Vincelli 1 well improved gas deliverability and also achieved a 20% reduction in water production compared to the previsions of the reservoir study of the field.

An additional increase in produced natural gas is also due to the September 2014 resumption of production at the Torrente Salsola 3 well, in the Masseria Petrilli concession in southern Italy. Zenith is now evaluating the possibility of drilling a deviated well into the crestal area of the Torrente Salsola structure, where the Company has a 100% working interest, in order to unlock residual reserves to be defined in the next NI 51-101 report.

Zenith has an ambitious program to enhance the Italian daily gas production rate in the Puglia Region by 100% through a technical program employing additional workovers.

Zenith has also developed an innovative plan for the exploitation of the Traetta 1 well in the Masseria Grottavecchia concession (20% W.I.) through the sweetening of the produced gas so that it can be sold through the national pipeline grid. This project is in its final stage of completion.

Zenith CEO, Andrea Cattaneo, comments, "I am pleased to report the Company's progress on these properties in Italy and continued success working with other operators. Our technical team continues to prove its capacity to enhance production within Italy and is now managing eight onshore producing fields while, at the same time, overseeing the operations of three other non-operated fields. Zenith's producing licenses cover 837 square kilometers."

About Zenith

Zenith focuses on near term producing properties that can be further optimized with its engineering and technical experience. To maximize shareholder value, Zenith targets acquisitions of production opportunities that offer strong logistics and close proximity to refineries and pipelines. Zenith's management and directors have extensive international and governmental experience and possess the technical knowledge to execute this strategy.

Zenith management is actively pursuing onshore fields with low acquisition costs from national or senior companies that have chosen to allocate their capital to unlock non-traditional resources with typically higher costs. Zenith's acquisition costs are further minimized by a strategy of reinvesting a portion of future cash flows back to remediation and capital improvements typically forgone on older fields. Combined with the use of modern technological practices and the Company's technical expertise, management continues to demonstrate the capacity to increase production and optimize remaining reserves.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information in this press release is forward-looking within the meaning of applicable securities laws, and related to anticipated financial performance, events and strategies. When used in this context, words such as "will", "anticipate", "believe", "plan", "intend", "target" and "expect" or similar words suggest future outcomes. By their nature, such statements are subject to significant risks, assumptions and uncertainties, which could cause the Company's actual results and experience to be materially different than the anticipated results or expectations expressed. Although Zenith believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Zenith can give no assurance that they will prove to be correct.

Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from the Company's expectations. Such risks and uncertainties include, but are not limited to, risks and uncertainties relating to: (i) political and economic conditions in the countries in which the Company operates or may operate; (ii) fluctuations in foreign exchange rates and natural gas prices; (iii) the Company's ability to access external sources of debt and equity capital; (iv) failure to obtain any required regulatory approvals; (v) regulatory and governmental decisions including changes to environmental legislation; and (vi) availability and cost of labor, equipment and management of resources.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Zenith undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

For further information, please contact:

Jose Ramon Lopez Portillo Andrea Cattaneo
Chairman of the Board President & CEO
Email: info@zenithenergy.org
Telephone: (403) 938-8154
Telefax: (403) 775-4474

This press release is not to be distributed to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities law.

SOURCE: Zenith Energy Ltd