StockMarketWire.com - Zenith Energy has acquired Ecumed Petroleum Zarzis, a oil producer with operations in Tunisia.

The acquisition was made via Zenith's African subsidiary which bought a 100% stake in the company through its owner Candax Energy.

Ecumed Petroleum Zarzis currently produces around 465 barrels a day.

Zenith CEO Andrea Cattaneo said: 'I am delighted to have completed this transaction which reflects the continued successful implementation of our development strategy - that of acquiring prospective oil production and development assets - and delivers immediate daily production revenue to Zenith during a time of material appreciation in the price of oil.'


At 1:29pm: [LON:ZEN] Zenith Energy Ltd share price was 0p at 0.35p



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