New record Italian electricity
ZENITH ENERGY LTD.
("Zenith" or the "Company")
New record Italian Electricity production revenue
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 August 2022.
During the month of August 2022, the Company produced a total of approximately 985.6 megawatt hours ("MWh").
Electricity prices during the month of August 2022 averaged approximately EUR 538 per MWh, resulting in net revenues of approximately EUR 530,000. Zenith's current net production costs remain fixed at approximately EUR 35,000 per month.
Andrea Cattaneo, Chief Executive of Zenith, commented:
"The continued exponential achievement of new records in revenue generation from our electricity production operation is significantly transforming the size and value of our Italian natural gas production portfolio.
We are now actively evaluating how to develop the material unexploited potential from our concessions across Italy that, in the context of the current geopolitical and financial energy climate, may be reactivated in the near-term to maximise highly valuable domestic production.
I look forward to updating shareholders on other areas of key progress for Zenith in due course."
("Zenith" or the "Company")
New record Italian Electricity production revenue
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 August 2022.
During the month of August 2022, the Company produced a total of approximately 985.6 megawatt hours ("MWh").
Electricity prices during the month of August 2022 averaged approximately EUR 538 per MWh, resulting in net revenues of approximately EUR 530,000. Zenith's current net production costs remain fixed at approximately EUR 35,000 per month.
Andrea Cattaneo, Chief Executive of Zenith, commented:
"The continued exponential achievement of new records in revenue generation from our electricity production operation is significantly transforming the size and value of our Italian natural gas production portfolio.
We are now actively evaluating how to develop the material unexploited potential from our concessions across Italy that, in the context of the current geopolitical and financial energy climate, may be reactivated in the near-term to maximise highly valuable domestic production.
I look forward to updating shareholders on other areas of key progress for Zenith in due course."
Mr Big
02.09.2022 kl 12:31
2928
Børsverdi på utrolige 235 Mnok. Det finnes vel ikke et billigere selskap samenlignet med inntektene.
Redigert 02.09.2022 kl 12:32
Du må logge inn for å svare
TheLondonOiler
02.09.2022 kl 14:11
2819
Whole heartedly agree we are one of the most undervalued companies on the market, producing oil and electricity and selling it also. This is only going up from here in my humble opinion.
patek5146
02.09.2022 kl 14:44
2728
gode nyheder og straks benyttes muligheden for at lempe aktier ud for nogle, sku utroligt
Someone trying to push down desperately knowing few less than 10 working hours to come in before IC . Do not sell below 0.135 or buy upto 0.1350.
Big hidden order at to buy 0.127
before closing there will be buy signal at Norskbull.
https://www.norskbulls.com/SignalPage.aspx?lang=en&Ticker=ZENA.OL
Big hidden order at to buy 0.127
before closing there will be buy signal at Norskbull.
https://www.norskbulls.com/SignalPage.aspx?lang=en&Ticker=ZENA.OL
Redigert 02.09.2022 kl 15:02
Du må logge inn for å svare
1 working day to IC and AC waits for big news ......................thoes who want to inn,......... its limited time.
Aqualight
02.09.2022 kl 16:06
2509
Godt at - 🎅🏻 Nissen solgte tomme flasker tidligere på ugen - og til jer der smider aktierne hen ad gaden, tak…. bare tak.
Aqualight 🇩🇰🇳🇴🇬🇧
Aqualight 🇩🇰🇳🇴🇬🇧
Not necessary news will come at 8th morning. So seat inside.
jantt
02.09.2022 kl 17:05
2345
Volume høj ? Kan det ikke bare være de samme aktier der bliver tradet ?
lutefish
02.09.2022 kl 17:18
2316
Litt om gassexploration i Italia
https://www.lse.co.uk/rns/GBP/operational-update-jmzal7xzz0affjl.html
Global Petroleum har også noen interessante prosjekter i Namibia
lutefish
02.09.2022 kl 18:07
2221
Her er litt om gassleting i Italia . Global Petroleum har også interessante prosjekter offshore Namibia
https://www.lse.co.uk/rns/GBP/operational-update-jmzal7xzz0affjl.html
MarketGunsling
05.09.2022 kl 10:48
1819
So Zenith have now published via RNS a new income from Italian gas sales this year of €1,372,000 in the last 5 months (since April 2022). They did not actually publish the production numbers or revenue from June but even assuming that this is slightly lower than the May figures it still gives us a revenue of €1.5 million over five months.
Mar-22 1015MWh/month €295/MWh €300,000
Apr-22 974.4MWh/month €236/MWh €230,000
May-22 875.6MWh/month €223/MWh €195,000
Jun-22 ????? ???? ????
Jul-22 996/month €419/MWh €417,000
Aug-22 985.6/month €538/MWh €530,000
Given that we are about to go forward into Winter and the price is likely to increase further then I think that we will continue this run of record prices. I know that there is a lot of talk about gas price caps at the moment but I think that these would prove very hard to implement and may actually cause more problems than they solve in a market that is basically global.
If Europe, for example, decided that they would cap gas price purchases at €450/MWh and other countries did not then the international delivery of gas would simply turn away from Europe and cause more supply problems. I do not think that it would then take long before some of the richer countries broke ranks and just purchased at the market price. Personally, I think what is far more likely to happen is that European governments will subsidise to gas prices for their population by setting a fixed price that the populus will pay and then paying the gas suppliers the excess.
Whatever happened though I think that a winter gas price of at least €510 /MWh is guaranteed this winter (2022-2023) and so I cannot see Zenith generating a net revenue of €500k every month between September and March next year. If I an right then this will deliver a total revenue of €5 million from the Italian gas generation for the 2022-2023 tax year. This is also a conservative estimate. It could easily be substantially more.
Mar-22 1015MWh/month €295/MWh €300,000
Apr-22 974.4MWh/month €236/MWh €230,000
May-22 875.6MWh/month €223/MWh €195,000
Jun-22 ????? ???? ????
Jul-22 996/month €419/MWh €417,000
Aug-22 985.6/month €538/MWh €530,000
Given that we are about to go forward into Winter and the price is likely to increase further then I think that we will continue this run of record prices. I know that there is a lot of talk about gas price caps at the moment but I think that these would prove very hard to implement and may actually cause more problems than they solve in a market that is basically global.
If Europe, for example, decided that they would cap gas price purchases at €450/MWh and other countries did not then the international delivery of gas would simply turn away from Europe and cause more supply problems. I do not think that it would then take long before some of the richer countries broke ranks and just purchased at the market price. Personally, I think what is far more likely to happen is that European governments will subsidise to gas prices for their population by setting a fixed price that the populus will pay and then paying the gas suppliers the excess.
Whatever happened though I think that a winter gas price of at least €510 /MWh is guaranteed this winter (2022-2023) and so I cannot see Zenith generating a net revenue of €500k every month between September and March next year. If I an right then this will deliver a total revenue of €5 million from the Italian gas generation for the 2022-2023 tax year. This is also a conservative estimate. It could easily be substantially more.
kokkohill
05.09.2022 kl 16:42
1634
Canadisk firma. Børsnotert London,ose. Italiener som sitter med roret. Produserer strøm på små Italienske rest gass. Kan bli stor i Afrika .
Løftet kursen på mange brutte løfter.
For godt til å være sant,eller er det det ?😜
Løftet kursen på mange brutte løfter.
For godt til å være sant,eller er det det ?😜
Aqualight
05.09.2022 kl 17:38
1521
@MarketGunsling - you can use this link on future Italy MWH Price - https://www.mercatoelettrico.org/En/default.aspx
Aqualight 🇩🇰🇳🇴🇬🇧
Aqualight 🇩🇰🇳🇴🇬🇧