StockMarketWire.com - Oil company Zenith Energy said it had won a 25-year licence to operate the Tilapia oilfield in the Republic of the Congo.
The company had made a bid in July. Zenith said the award was subject to completion of an inquiry of public utility, to be organised during January, as well as subsequent finalisation of a production sharing contract.
Zenith would operate the Tilapia II licence in partnership with Congo's national oil company.
'The company is now positioned to benefit from a potentially transformational asset with highly prospective development and exploration potential in a prolific hydrocarbon basin,' chief executive Andrea Cattaneo said.
At 10:30am: [LON:ZEN] Zenith Energy Ltd share price was 0p at 0.35p