Zenith Energy Ltd New record profitability of Italian operations (4800H)
06 Abril 2022 - 5:01AM
UK Regulatory
TIDMZEN
RNS Number : 4800H
Zenith Energy Ltd
06 April 2022
April 6, 2022
ZENITH ENERGY LTD.
("Zenith" or the "Company")
New record profitability of Italian operations
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:
ZENA), the listed international energy production and development
company, is delighted to announce that electricity production
activities at the Torrente Cigno concession in Italy have achieved
a new record in revenue generation and associated
profitability.
Electricity generation operations - March 2022
During the month of March 2022, the Company produced a total of approximately 1,015 MWh.
Electricity prices during the month of March 2022 averaged
approximately EUR 295 per MWh, resulting in net revenues of
approximately EUR 300,000 per month. 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:
"We continue to be extremely pleased with the exceptional
revenue generation of our Italian energy production activities
which have consistently surpassed expectations.
It is our objective to explore the best way to increase
production, without jeopardising current output, to further
maximise our profitability."
Further Information:
Zenith Energy Ltd
Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive E: info@zenithenergy.ca
Officer
Allenby Capital Limited - Financial
Adviser Tel: + 44 (0) 203 328 5656
Nick Harriss
Nick Athanas
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 an international oil and gas production
company, listed on the London Stock Exchange (LSE:ZEN) and the
Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).
Zenith's development strategy is to identify and rapidly
complete value-accretive hydrocarbon production opportunities in
the oil & gas sector, specifically in Africa.
Follow us on LinkedIn:
https://www.linkedin.com/company/zenith-energy-limited/
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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April 06, 2022 06:01 ET (10:01 GMT)
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