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Zenith Energy announces half-year results  


30 Nov 2022

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Zenith Energy, the Africa and Middle East focused energy production and development company, has published its consolidated half-yearly unaudited financial results for the six months ended September 30, 2022.

The Interim Results can be viewed in full here.

Highlights:

  • The Group generated revenues from oil and natural gas of CAD$11,571k (2021 - CAD$2,344k).
  • During the six months ended September 30, 2022, the Company produced 90,591 barrels of oil from its Tunisian assets (2021 - 94,662 barrels)
  • During the six months ended September 30, 2022, the Company sold 79,223 barrels of oil produced from its Tunisian assets (2021 - 67,916 barrels)
  • During the six months ended September 30, 2022, the Company sold 5,309 MWh of electricity produced from its Italian assets (2021 - 2,792 MWh).
  • During the six months ended September 30, 2022, the Company sold 5,623 mcf of natural gas produced from its Italian assets (2021 - 4,742 mcf).
  • During the six months ended September 30, 2022, the Company sold 137 barrels of condensate produced from its Italian assets (2021 - nil).

Luca Benedetto, Chief Financial Officer of Zenith, commented:

'We are pleased to publish our unaudited half-year results which provide clear evidence of the outstanding performance of our Italian natural gas and electricity production operations.

As a management team we believe there are several potentially highly material growth catalysts to be achieved in the near-term following the successful implementation of our development strategy in Africa and the Middle East. 

We look forward to providing further information on our exciting progress in due course.'

Original article link

Source: Zenith Energy





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