Zenith Energy Ltd announced on Monday that its subsidiaries British filed their final submissions as part of their arbitration proceedings against the Republic of Tunisia, before the Centre international for the settlement of investment disputes (ICSID) in Washington.

The oil company, which has interests in Italy, in Tunisia and the United States, said that damages in the the scope of this claim are now valued at $572.7 million, up from $503 million previously.

Arbitration was launched in 2023 due to violations presumed to be part of the 1989 bilateral investment treaty between the United Kingdom and Tunisia.

Zenith commissioned the consulting firm TWCOG LLP to: assist him in this matter, in collaboration with his evaluator of Chapman Hydrogen & Petroleum Engineering reserves. TWCOG has re-evaluated the value of the claim after examining the quantification of damage and the additional violations alleged.

Final hearings are expected in the second Fortnight of April 2026. Zenith is represented by Clay Arbitration and Charles Russell Speechlys in Paris.

Zenith shares were up 7.5% at 4.30 pence in London on Monday at noon. The stock is still down 33% from the start of the year 2025.