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Zenith Energy Ltd - Calgary, Canada-based oil & gas company - Updates on electricity production at Torrente Cigno Concession in Italy over July. Produces around 996.5 megawatt hours. Brings in €417,000 in revenue on average electricity prices of €419 per MWh. Says net production costs remain fixed at around €35,000. The month is ‘the highest profitability’ ever achieved in Italy by the firm, it says.
‘We are actively pursuing the development potential of our Italian portfolio, including the Torrente Cigno concession, so that we may increase our energy production even further in the current extremely favourable energy pricing environment,’ says Chief Financial Officer & Managing Director Luca Benedetto.
Current stock price: 0.82 pence, down 3.5% on Thursday
12-month change: down 22%
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