Italian Electricity Production – October 2022

10 Nov 2022 16:20 CET

November 10, 2022

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Italian Electricity Production – October 2022

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the energy company with proven revenue
generating production, exploration and development assets in Africa and Europe,
is pleased to provide an update on its electricity production operations at the
Torrente Cigno Concession during the month of October 2022.

During the month of October 2022, the Company produced a total of approximately
956 megawatt hours ("MWh").
Electricity prices during the month of October 2022 averaged approximately EUR
208 per MWh, resulting in net revenues of approximately EUR 198,000. Zenith's
current net production costs remain fixed at approximately EUR 35,000 per month.


Further Information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer
Tel: +1 (587) 315 9031
E: info@zenithenergy.ca

BlytheRay - Financial PR/IR

Tim Blythe, Megan Ray , Madeleine Gordon-Foxwell Tel: +44 207 138 3204
E: zenith@blytheray.com

Alternative Resource Capital - Broker

Alex Wood
Keith Dowsing
Tel: +44 (0) 207 186 9004
Tel: + 44 (0) 207 186 9005

Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with
production, exploration and development assets in Tunisia, Italy, and the
Republic of the Congo, including electricity generation in Italy. The Company is
listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext
Growth of the Oslo Stock Exchange (OSE: ZENA).

Zenith's strategic focus is on pursuing transformational opportunities in Africa
and Europe through the development of proven revenue generating oil, gas, and
electricity production assets, as well as low-risk exploration activities in
assets with existing production.

For more information, please visit: www.zenithenergy.ca

Twitter: @zenithenergyltd
LinkedIn: https://bit.ly/3A5PRJb

Market Abuse Regulation (MAR) Disclosure

The information included in this announcement is defined as inside information
pursuant to MAR article 7 and is publicly disclosed in accordance with MAR
article 17 and section 5 -12 of the Norwegian Securities Trading Act. The
announcement is made by the contact person.

More information:
Access the news on Oslo Bors NewsWeb site

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