Zenith Achieves Record Monthly Production For Argentina During March

CALGARY, AB / ACCESSWIRE / April 16, 2015 / Zenith Energy Ltd. (the "Company") (TSX VENTURE: ZEE) is pleased to announce production numbers for its wholly-owned Argentinean subsidiary, Petrolera Patagonia srl. Production for the month of March from the Don Alberto and Don Ernesto fields reached a new high of 5,210 barrels.

During March 2015, Company was able to sell the Escalante crude that it produced at a price of US$61.00 per barrel. Zenith management notes that the realized price of US$61.00 per barrel for Escalante is US$1.00 or 1.67% higher than the anticipated US$60 per barrel mark cited in Zenith's news release of January 13, 2015. Additionally, it is important to note that this sales price represents a premium of 13.62% and 27.83% to the respective closing spot values for Brent (US$53.69)* and WTI (US$47.72)* crude on Tuesday, March 31st, 2015 (*Source: EIA, The US Energy Information Administration).

Oil prices in the regulated domestic market in Argentina continue to remain strong and in excess of the international crude oil price. Argentina's posted price for the company's Escalante oil production in April is anticipated to be $61.00 (U.S.) per barrel.

About Zenith Energy Ltd.

Zenith focuses on near term producing properties that can be further optimized with its engineering and technical expertise. 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 into remediation and capital improvements typically forgone on older fields. Combining 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

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning (i) the Company's goal of increasing its production (ii) increasing the Argentinean production to approximately 60,000 barrels per annum and (iii) that Argentinean pricing will remain consistent and higher than Brent pricing, and (iv) pricing data posted for March 31, 2015 for Brent and WTI crude by the EIA, The US Energy Information Administration. The forward-looking statements and information are based on certain key expectations and assumptions made by Zenith, including the ability to execute its strategy and realize its growth opportunities including its ability to raise financing needed to execute its plans. 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. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, Zenith being unable to obtain additional financing or other resources to realize its growth opportunities. 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. 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 CEO & President
Email: [email protected]
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.