Zenith Energy jumps 25% as Tunisia misses deadline in $130m arbitration fight

Shares in Zenith Energy Ltd (LSE:ZEN, TSX-V:ZEE), the international oil and gas producer listed in London, Oslo and Stockholm, surged 25% to 5.63p after the company disclosed that Tunisia had failed to meet a court deadline in a high-stakes arbitration dispute worth approximately $130 million.

The Republic of Tunisia missed the procedural deadline to respond to an annulment application lodged by Zenith’s…