Zenith Energy (GB:ZEN) has released an update.
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Zenith Energy has achieved a significant legal victory in its arbitration against Tunisia’s national oil company, ETAP, with a tribunal ruling in favor of Zenith’s subsidiary, Ecumed Petroleum Zarzis Ltd. The tribunal has ordered ETAP to pay approximately $9.7 million in damages, including late payment interest and costs, marking a milestone for Zenith as it seeks further redress in ongoing arbitrations. This decision underscores Zenith’s commitment to resolving disputes and advancing its oil production and development interests in Tunisia.
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