Zenith, Fleet seeking acquisitions in MENA region

Zenith Energy Ltd. has entered into a cooperation agreement with Fleet Oil & Gas SA, Dubai, UAE, a privately owned oil and gas company led by the former Egyptian Petroleum Minister, Eng. Mahmoud Latif Amer.

Under the agreement, the companies will jointly identity and pursue oil and gas production and exploration acquisitions in the Mediterranean, the Middle East, and Africa.

The companies have agreed to enter into a joint venture agreement by way of a newly incorporated vehicle should a potential acquisition be mutually approved and taken forward following completion of due diligence.

A number of potential acquisitions are currently under review, both operated and non-operated, with production in excess of 2,000 b/d of oil.