Zenith Energy announces that Tunisia has formally recognized the company’s ownership of the production assets Robbana and El Bibane through the subsidiary Ecumed Petroleum Tunisia. At the same time, it is confirmed that approximately 3,987 barrels of oil produced since 2022 belong to the company.This is seen as an important step in the ongoing arbitration proceedings. At an oil price of $100 per barrel, the reported oil inventory amounts to an estimated gross value of approximately $400,000. In addition, there are about 8,000 barrels of oil remaining in storage at Robbana, corresponding to an estimated gross value of about $800,000, based on the same price assumptions."The Republic of Tunisia’s formal recognition of the claimants’ ownership of both the concessions and the associated oil inventory constitutes a highly significant development in connection with the ongoing proceedings at ICSID. This is because it directly supports the position that our subsidiaries have consistently advanced and further strengthens their claims," comments Zenith’s CEO Andrea Cattaneo.At the same time, the company reports that vandalism and thefts of critical equipment have occurred at Robbana, making meaningful production activity impossible. The damage is so extensive that a comprehensive refurbishment program will be required before operations can resume, according to the company."Zenith’s claimant companies are determined to use all available legal means to ensure that their rights are safeguarded and that full compensation is obtained," says Cattaneo.