Zenith Energy Ltd. (“Zenith” or the “Company”) announced on October 27, 2026, that the Company has engaged The Hon. Michael R. Pompeo, former United States Secretary of State and former Director of the Central Intelligence Agency, and his advisory firm, CNQ Global Advisors (“CNQ”), as strategic advisors (the “Advisory Engagement”). The engagement relates to the approximately USD 572.65m international arbitration that Zenith’s UK subsidiaries are pursuing against the Republic of Tunisia before the International Centre for Settlement of Investment Disputes (“ICSID”) under the 1989 bilateral investment treaty between the United Kingdom and Tunisia.
In Analyst Group’s view, engaging a former US Secretary of State, supported by senior former US officials with extensive experience in diplomacy, national security and African affairs, adds considerable strategic and geopolitical weight to Zenith’s position at a decisive stage of the ICSID proceedings. Alongside the legal process, the Advisory Engagement opens a constructive channel toward a potential negotiated resolution, which could support both the timing and the realization of value from the claims. The engagement also follows Secretary Pompeo’s proposed appointment as Chairman of Reveille Resources, in which Zenith is the largest shareholder, announced on October 6, 2026. In our view, this underlines the relationship that Zenith has established with Secretary Pompeo. Analyst Group continues to assign a 72 % probability to a favorable outcome in the ICSID proceedings based on precedent. We view the Tribunal’s final award, together with any progress toward a negotiated resolution, as the key milestones going forward.
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