Azerbaijan is estimated to hold proven reserves of 14.748 billion barrels (2 billion tonnes) of crude oil and condensate and an additional reserve of 2.55 trillion cubic meters (90 Tcf) of natural gas. (Source: State Oil Company of Azerbaijan Republic (SOCAR) and as reported by Azeri-Press Agency (APA), http://en.apa.az/). Based on rankings and data provided by The World Factbook, a publication of the Central Intelligence Agency (https://www.cia.gov/ ), SOCAR's updated disclosure would place Azerbaijan with the 15th largest proved oil reserves in the world.

Andrea Cattaneo, Zenith's CEO and President, comments "We look forward to investing in Azerbaijan, a proven and dynamic oil and gas country with extensive opportunities for foreign investors. Our thorough due diligence has focused on key aspects such as rule of law, and confirmed the country's respect for title, the ownership of assets, and ability to negotiate and enforce agreements. Additionally, our management has ascertained that both the country's working conditions and the relationship with the local community are favorable and quite attractive for a foreign energy investor."

About Azerbaijan

Azerbaijan is located at the crossroads of Western Asia and Eastern Europe. After gaining independence in 1991, Azerbaijan became a member of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank and the Asian Development Bank. Azerbaijan is one of the birthplaces of the oil industry, with trade dating back as early as the 3rd and 4th centuries. The world's first paraffin factory was opened in the country in 1823 and the first oil well was drilled in 1847. In the 1870s, the region experienced the first true oil boom with oil drilling beginning on a massive scale highlighted by the Vermishevsky oil gusher on June 13, 1872 which produced an estimated 2600 barrels per day during its first three months. Several cycles of oil development have occurred within the country, and after gaining independence in 1991, Azerbaijan started to attract significant foreign investment.

Azerbaijan's development as a supplier of petroleum to Europe continues to evolve with the national strategy to develop infrastructure including the BTC (Baku-Tbilisi-Ceyhan) pipeline, officially opened on July 13, 2006. The BTC pipeline transports crude 1,769 km from the offshore Azeri-Chirag-Guneshli oil fields in the Caspian Sea to the Mediterranean Sea. Possessing the capacity to transport more than one million barrels per day, this pipeline is the second longest in the world and pumps oil from the Sangachal Terminal near Baku (Azerbaijan), through Tbilisi (the Georgian Capital) to Ceyhan, a port on the south-eastern Mediterranean coast of Turkey.

SOCAR, the State Oil Company of Azerbaijan Republic, has estimated Azerbaijan's proven recoverable crude oil reserves are 2 billion tonnes. During 2012, the country produced approximately 879,800 barrels per day with a reported domestic consumption at 85,000 barrels per day, making Azerbaijan among the 20 largest exporters in the world. Wholly located within the South Caspian Sea basin, Azerbaijan is one of the region's most strategic export openings to the west, and an increasingly important supplier of natural gas to Europe via the country's existing and proposed pipeline network.

About Zenith Energy Ltd.

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

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