Zenith Energy Ltd Update on Electricity Production (8400O)
14 Junio 2022 - 07:14AM
UK Regulatory
TIDMZEN
RNS Number : 8400O
Zenith Energy Ltd
14 June 2022
June 14, 2022
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Update on Electricity Production
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the listed
international energy production and development company, is pleased
to provide an update on its electricity production operations at
the Torrente Cigno concession in Italy during the month of May
2022.
During the month of May 2022, the Company produced a total of
approximately 875.6 megawatt hours ("MWh").
Electricity prices during the month of May 2022 averaged
approximately EUR 223 per MWh, resulting in net revenues of
approximately EUR 195,000. 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:
"Zenith's Italian electricity production operations continue to
deliver sustained, highly material profitability.
We have performed certain maintenance work during the month of
May 2022 at Torrente Cigno, and have further work planned
throughout this month, with a view to increasing our production
during the second part of 2022.
Beyond Torrente Cigno, our Italian portfolio presents several
exciting development opportunities, and we hope to deliver news on
this front during the year once we receive the necessary approvals
to develop our other natural gas production concessions."
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, Madeleine E: zenith@blytheray.com
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 an international oil, gas, and electricity
production company, listed on the London Stock Exchange Main Market
(LSE: ZEN) and the Euronext Growth Market of the Oslo Stock
Exchange (OSE: ZENA).
Zenith's growth strategy is to successfully develop its existing
portfolio of energy production assets in Italy and Africa, as well
as to proactively identify and acquire any additional energy
production and development opportunities in these regions.
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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June 14, 2022 08:14 ET (12:14 GMT)
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