Zenith Energy Ltd New record profitability of Italian production (5040W)
18 8월 2022 - 8:04PM
UK Regulatory
TIDMZEN
RNS Number : 5040W
Zenith Energy Ltd
18 August 2022
August 18, 2022
ZENITH ENERGY LTD.
("Zenith" or the "Company")
New record profitability of Italian Electricity production
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA) , the energy company
with proven revenue generating production, exploration and
development assets in Africa and Europe , is delighted to provide
an update on its electricity production operations at the Torrente
Cigno Concession in Italy during the month of July 2022.
During the month of July 2022, the Company produced a total of
approximately 996.5 megawatt hours ("MWh").
Electricity prices during the month of July 2022 averaged
approximately EUR 419 per MWh, resulting in net revenues of
approximately EUR 417,000. Zenith's current net production costs
remain fixed at approximately EUR 35,000 per month.
Luca Benedetto, Chief Financial Officer and Managing Director of
Italian operations, commented:
"I am delighted to announce this great milestone for the
Company, representing the highest profitability Zenith has ever
achieved in Italy. We are actively pursuing the development
potential of our Italian portfolio, including the Torrente Cigno
concession, so that we may increase our energy production even
further in the current extremely favourable energy pricing
environment."
Further Information:
Zenith Energy Ltd
Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive E: info@zenithenergy.ca
Officer
BlytheRay - Financial PR/IR Tel: +44 207 138 3204
Tim Blythe, Alice McLaren, E: zenith@blytheray.com
Madeleine Gordon-Foxwell
Alternative Resource Capital
- Broker Tel: +44 (0) 207 186 9004
Tel: + 44 (0) 207 186 9005
Alex Wood
Keith Dowsing
Notes to Editors :
Zenith Energy Ltd. is a revenue generating, independent energy
company with production, exploration and development assets in
Tunisia, Italy and the Republic of the Congo, including electricity
generation in Italy. The Company is listed on the London Stock
Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo
Stock Exchange (OSE: ZENA).
Zenith's strategic focus is on pursuing transformational
opportunities in Africa and Europe through the development of
proven revenue generating oil, gas and electricity production
assets, as well as low-risk exploration activities in assets with
existing production.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("MAR"). Upon the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
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END
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August 18, 2022 07:04 ET (11:04 GMT)
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