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Zenith Energy said it had extended a non-binding letter of intent with an Arab consortium of investors focused on African opportunities by 90 days.
The terms of letter of intent, involving a $2m investment in Zenith shares, remained unchanged, the company said.
The investment was still priced at 2.5p per Zenith share.
At 1:51pm: (LON:ZEN) Zenith Energy Ltd share price was -0.05p at 0.63p