Italian Electricity Production – December 2022

09 Jan 2023 13:36 CET

January 9, 2023

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Italian Electricity Production – December 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 December 2022.

The Company produced a total of approximately 1,025 megawatt hours ("MWh") in
the month of December 2022, representing the highest monthly production during
the course of 2022.

Electricity prices during the month of December 2022 averaged approximately EUR
280 per MWh, resulting in net revenues of approximately EUR 286,500. 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, Matt Bowld Tel: +44 207 138 3204
E: zenith@blytheray.com


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 the
Middle East, 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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