Zenith Energy Ltd Publication of 2023 FY annual audited report (7538H)
31 7월 2023 - 7:36PM
UK Regulatory
TIDMZEN
RNS Number : 7538H
Zenith Energy Ltd
31 July 2023
July 31, 2023
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Publication of 2023 FY annual audited report
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international
energy production and development company, is pleased to publish
its independently audited financial results for the financial year
ended March 31, 2023 (the "Annual Report").
The Annual Report can be viewed here:
http://www.rns-pdf.londonstockexchange.com/rns/7538H_1-2023-7-31.pdf
A copy of the Annual Report will also be made available for
review on the Company's website: www.zenithenergy.ca
Key Highlights
During the financial year ended March 31, 2023, the Group:
-- The Group generated revenues from oil and natural gas of CAD$13,159k (2022 - CAD$8,239k)
-- As of March 31, 2023, inventory consists of CAD$ 6,448k (2022
- CAD$5,690k) related to 116,391 barrels of crud e oil that has
been produced but not yet sold in Tunisia .
-- The Company sold 177,246 mcf of natural gas from its Italian
assets, as compared to 131,556 mcf of natural gas in the 2022
similar period.
Andrea Cattaneo , Chief Executive Officer, commented:
"The results for the 2023 FY represent the highest revenue
generation recorded by the Company during its history. This is a
significant achievement made possible, inter alia, by the
exceptional energy pricing climate during the period, specifically
in Italy where profitability margins have been unprecedented.
It is also important to underline that administrative expenses
have been reduced materially, with a decrease of approximately 30
percent in comparison to the 2022 FY.
Zenith has newly embarked on an exciting acquisition campaign,
with multiple potential acquisition opportunities currently under
review across different geographies. It is the Board's intention to
build on the progress achieved during the 2023 FY to maximise
revenue generation and profitability in the interests of the
Company's successful long-term development ."
-ENDS-
Further Information:
Zenith Energy Ltd
Tel: +1 (587) 315 1279
Andrea Cattaneo, Chief Executive E: info@zenithenergy.ca
Officer
BlytheRay - Financial PR/IR Tel: +44 207 138 3204
Tim Blythe, Megan Ray, Matt E: zenith@blytheray.com
Bowld
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328 5656
Adviser
Nick Harriss
Daniel Dearden-Williams
Miriad Limited - Media Enquiries Tel: +44 7867527659
Zak Mir E: zak@zakmir.com
Notes to Editors :
Zenith Energy Ltd. is a revenue generating, independent energy
company with production, exploration and development assets in
Africa, the Middle East and Europe, 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 development
opportunities through the development of proven revenue generating
energy production assets, as well as low-risk exploration
activities in assets with existing production.
For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd
LinkedIn: https://bit.ly/3A5PRJb
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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July 31, 2023 06:36 ET (10:36 GMT)
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