Latest news with #CopperMoki
Yahoo
12 hours ago
- Business
- Yahoo
Monumental Energy Announces Completion of Workover and Resumption of Commercial Production at the Copper Moki-2 Oil and Gas Well in New Zealand
VANCOUVER, British Columbia, June 23, 2025--(BUSINESS WIRE)--Monumental Energy Corp. ("Monumental" or the "Company") (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the successful workover and resumption of commercial production at the Copper Moki-2 (CM-2) well, located in the Taranaki Basin, New Zealand. The primary objective of the CM-2 workover was to restore oil and associated gas production from the Mt. Messenger sands and to address flow restrictions identified during prior operations. Additionally, the program included perforating and testing previously untapped hydrocarbon zones. At CM-2, three new intervals have been perforated, which are expected to contribute to significant flush production rates and increase overall output. Early indications confirm the new pump is functioning as expected, with approximately 300 barrels of brine—previously used to maintain pressure—successfully pumped out of the well. The Copper Moki-1 (CM-1) workover is expected to take approximately 10 days. If successful, the well will be placed on continuous production alongside CM-2. Monumental Energy and NZEC anticipate significant flush production rates from both wells. At the time of the original drill program at Copper Moki, New Zealand faced a gas surplus, and the field remained isolated from the gas network. Today, the field has been fully integrated into the gas infrastructure, presenting a meaningful revenue opportunity that was previously unavailable. CM-1 and CM-2 were originally shut-in due to mechanical issues over time, rather than any reservoir-related concerns. The wells required only standard maintenance, and equipment upgrades to resume production. In late 2024, Monumental Energy entered into an agreement with NZEC to bring the wells back online, as NZEC shifted its focus to a gas storage business model. Under the terms of the agreement, Monumental Energy will receive a 25% royalty on all oil and gas production from the Copper Moki site, following full recovery of its 75% initial capital contribution. Oil produced in the Taranaki Basin typically receives a modest discount to Brent Crude (USD $77.39 as of June 20), while natural gas sells at a premium, with current prices ranging between USD $11.00 and $15.00 per MCF—significantly higher than North American market levels. Cumulative production data, measured in barrels of oil equivalent (BOE), will be released in the coming weeks. Max Sali, Vice President of Corporate Development and Director, commented: "The Copper Moki wells have demonstrated exceptional reservoir performance, with cumulative production approaching one million barrels of oil to date. The successful recompletion of CM-2—including the perforation of three new intervals—is expected to significantly enhance output. We anticipate strong flush volumes and reservoir recharge, further validating the productivity of the Mt. Messenger formation. This positions us for meaningful near-term cash flow while supporting the long-term value proposition for our shareholders." About Monumental Energy Corp. Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sector, as well as investing in oil and gas projects. The Company owns securities of New Zealand Energy Corp. and entered into a call option and royalty agreement on the Copper Moki wells with New Zealand Energy Corp. The Company also has an option to acquire a 75% interest and title to the Laguna cesium-lithium brine project located in Chile. The Company holds a 2% net smelter return royalty on Summit Nanotech's share of any future lithium production from the Salar de Turi Project. On behalf of the Board of Directors, /s/ "Michelle DeCecco"Michelle DeCecco, CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward Looking Information This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, completing the Copper Moki 1 & 2 workovers and the expected results, the expected timeline to complete the workovers of Copper Moki 1 & 2 wells, and commencement of production of CM 1 & 2, potential oil and gas transactions, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ at While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company's ability to operate, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. View source version on Contacts Michelle DeCecco, Chief Executive Officer and DirectorEmail: michelle@ OrMaximilian Sali, VP Corporate Development and DirectorEmail: max@ Phone: 1-604-367-8117
Globe and Mail
12 hours ago
- Business
- Globe and Mail
Monumental Energy Announces Completion of Workover and Resumption of Commercial Production at the Copper Moki-2 Oil and Gas Well in New Zealand
Monumental Energy Corp. (' Monumental ' or the ' Company ') (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the successful workover and resumption of commercial production at the Copper Moki-2 (CM-2) well, located in the Taranaki Basin, New Zealand. This press release features multimedia. View the full release here: Copper Moki-2 well in production The primary objective of the CM-2 workover was to restore oil and associated gas production from the Mt. Messenger sands and to address flow restrictions identified during prior operations. Additionally, the program included perforating and testing previously untapped hydrocarbon zones. At CM-2, three new intervals have been perforated, which are expected to contribute to significant flush production rates and increase overall output. Early indications confirm the new pump is functioning as expected, with approximately 300 barrels of brine—previously used to maintain pressure—successfully pumped out of the well. The Copper Moki-1 (CM-1) workover is expected to take approximately 10 days. If successful, the well will be placed on continuous production alongside CM-2. Monumental Energy and NZEC anticipate significant flush production rates from both wells. At the time of the original drill program at Copper Moki, New Zealand faced a gas surplus, and the field remained isolated from the gas network. Today, the field has been fully integrated into the gas infrastructure, presenting a meaningful revenue opportunity that was previously unavailable. CM-1 and CM-2 were originally shut-in due to mechanical issues over time, rather than any reservoir-related concerns. The wells required only standard maintenance, and equipment upgrades to resume production. In late 2024, Monumental Energy entered into an agreement with NZEC to bring the wells back online, as NZEC shifted its focus to a gas storage business model. Under the terms of the agreement, Monumental Energy will receive a 25% royalty on all oil and gas production from the Copper Moki site, following full recovery of its 75% initial capital contribution. Oil produced in the Taranaki Basin typically receives a modest discount to Brent Crude (USD $77.39 as of June 20), while natural gas sells at a premium, with current prices ranging between USD $11.00 and $15.00 per MCF—significantly higher than North American market levels. Cumulative production data, measured in barrels of oil equivalent (BOE), will be released in the coming weeks. Max Sali, Vice President of Corporate Development and Director, commented: 'The Copper Moki wells have demonstrated exceptional reservoir performance, with cumulative production approaching one million barrels of oil to date. The successful recompletion of CM-2—including the perforation of three new intervals—is expected to significantly enhance output. We anticipate strong flush volumes and reservoir recharge, further validating the productivity of the Mt. Messenger formation. This positions us for meaningful near-term cash flow while supporting the long-term value proposition for our shareholders.' About Monumental Energy Corp. Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sector, as well as investing in oil and gas projects. The Company owns securities of New Zealand Energy Corp. and entered into a call option and royalty agreement on the Copper Moki wells with New Zealand Energy Corp. The Company also has an option to acquire a 75% interest and title to the Laguna cesium-lithium brine project located in Chile. The Company holds a 2% net smelter return royalty on Summit Nanotech's share of any future lithium production from the Salar de Turi Project. On behalf of the Board of Directors, /s/ 'Michelle DeCecco' Michelle DeCecco, CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward Looking Information This news release contains 'forward‐looking information or statements' within the meaning of applicable securities laws, which may include, without limitation, completing the Copper Moki 1 & 2 workovers and the expected results, the expected timeline to complete the workovers of Copper Moki 1 & 2 wells, and commencement of production of CM 1 & 2, potential oil and gas transactions, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ at While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company's ability to operate, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
National Post
13 hours ago
- Business
- National Post
Monumental Energy Announces Completion of Workover and Resumption of Commercial Production at the Copper Moki-2 Oil and Gas Well in New Zealand
Article content VANCOUVER, British Columbia — Monumental Energy Corp. (' Monumental ' or the ' Company ') (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the successful workover and resumption of commercial production at the Copper Moki-2 (CM-2) well, located in the Taranaki Basin, New Zealand. Article content The primary objective of the CM-2 workover was to restore oil and associated gas production from the Mt. Messenger sands and to address flow restrictions identified during prior operations. Additionally, the program included perforating and testing previously untapped hydrocarbon zones. Article content At CM-2, three new intervals have been perforated, which are expected to contribute to significant flush production rates and increase overall output. Early indications confirm the new pump is functioning as expected, with approximately 300 barrels of brine—previously used to maintain pressure—successfully pumped out of the well. Article content The Copper Moki-1 (CM-1) workover is expected to take approximately 10 days. If successful, the well will be placed on continuous production alongside CM-2. Monumental Energy and NZEC anticipate significant flush production rates from both wells. Article content At the time of the original drill program at Copper Moki, New Zealand faced a gas surplus, and the field remained isolated from the gas network. Today, the field has been fully integrated into the gas infrastructure, presenting a meaningful revenue opportunity that was previously unavailable. Article content CM-1 and CM-2 were originally shut-in due to mechanical issues over time, rather than any reservoir-related concerns. The wells required only standard maintenance, and equipment upgrades to resume production. In late 2024, Monumental Energy entered into an agreement with NZEC to bring the wells back online, as NZEC shifted its focus to a gas storage business model. Under the terms of the agreement, Monumental Energy will receive a 25% royalty on all oil and gas production from the Copper Moki site, following full recovery of its 75% initial capital contribution. Article content Oil produced in the Taranaki Basin typically receives a modest discount to Brent Crude (USD $77.39 as of June 20), while natural gas sells at a premium, with current prices ranging between USD $11.00 and $15.00 per MCF—significantly higher than North American market levels. Article content Cumulative production data, measured in barrels of oil equivalent (BOE), will be released in the coming weeks. Article content Max Sali, Vice President of Corporate Development and Director, commented: Article content 'The Copper Moki wells have demonstrated exceptional reservoir performance, with cumulative production approaching one million barrels of oil to date. The successful recompletion of CM-2—including the perforation of three new intervals—is expected to significantly enhance output. We anticipate strong flush volumes and reservoir recharge, further validating the productivity of the Mt. Messenger formation. This positions us for meaningful near-term cash flow while supporting the long-term value proposition for our shareholders.' Article content About Monumental Energy Corp. Article content Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sector, as well as investing in oil and gas projects. The Company owns securities of New Zealand Energy Corp. and entered into a call option and royalty agreement on the Copper Moki wells with New Zealand Energy Corp. The Company also has an option to acquire a 75% interest and title to the Laguna cesium-lithium brine project located in Chile. The Company holds a 2% net smelter return royalty on Summit Nanotech's share of any future lithium production from the Salar de Turi Project. Article content On behalf of the Board of Directors, Article content Michelle DeCecco, Article content CEO Article content Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Article content Forward Looking Information Article content This news release contains 'forward‐looking information or statements' within the meaning of applicable securities laws, which may include, without limitation, completing the Copper Moki 1 & 2 workovers and the expected results, the expected timeline to complete the workovers of Copper Moki 1 & 2 wells, and commencement of production of CM 1 & 2, potential oil and gas transactions, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ at While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company's ability to operate, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. Article content Article content Article content Article content Michelle DeCecco Article content , Chief Executive Officer and Director Article content Article content Email: Article content michelle@ Article content Article content Article content
Yahoo
03-06-2025
- Business
- Yahoo
New Zealand Energy Corp Announces 2024 Quarter 4 Results
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announced today it has filed with Canadian regulatory authorities its Q4 2024 consolidated financial results and an accompanying management discussion and analysis report, which documents are available on the Company's website at and on SEDAR at Commenting on the Company's 2024 end of year results, CEO Michael said "The results saw a loss of $8,179,276 (compared to the 2023 loss of $2,075,929) which included significant non-cash expenses including depreciation and depletion. Overall, there was a $3,568 increase in cash at year end and $1,131,605 was held as at 31 December 2024. Cash used by operating activities was ($1,962,125), compared to 2023 of $1,404,159 of cash used by operations. The Company achieved average net daily production of 17 boe/d (98% oil) through 2024 compared to 27 boe/d (99% oil) during 2023. Waihapa/Ngaere production was curtailed through Q4 2024 while the Tariki-5/5A well was being drilled and tested, and there was no oil production from Copper Moki through the whole year. With respect to development operations, Mr Adams commented: "In the final quarter of 2024, the Tariki-5A gas development and storage well was successfully drilled, confirming the anticipated excellent reservoir quality, and the initial flow test results were very encouraging. However, since February 2025, the well has faced challenges in maintaining continuous flow due to liquid loading in the 3.5" completion, which was initially optimized for gas storage operations. This issue has led to an earlier focus on converting the field to gas storage operations than originally planned, and work on this conversion is currently underway. The Copper Moki-1 and -2 wells have been out of service since 2022 and 2023, respectively, due to pump failures. Plans to work over these wells in the second quarter of 2025 are progressing as scheduled, with the RIVAL rig set to arrive at the location in early June 2025. This joint project with Monumental Energy Corp. (MNRG) has the potential to add more than 200 barrels of oil per day (bopd) and associated gas to the company's production by the end of Q2 2025. At the Waihapa-Ngaere oil field, efforts are in progress to bring several wells back into continuous production service. This work involves a combination of surface and sub-surface low-cost interventions and is expected to be completed in the third quarter of 2025. The company anticipates that this will result in a further uplift in oil production of 25 to 40 bopd (100% share). With these production redevelopments in place, New Zealand Energy Corp. (NZEC) will be well-positioned to advance the Tariki Gas Storage project through to the Final Investment Decision (FID) stage. Following that, the company will continue with the appraisal and exploration of opportunities within the acreage it already holds." On behalf of the Board of Directors "Mike Adams" CEO New Zealand Energy ContactsEmail: info@ Website: Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING INFORMATION AND CAUTIONARY NOTE REGARDING RESERVE ESTIMATES This document, the consolidated financial statements for the year ended 31 December 2024 and the Management's Discussion and Analysis contain certain forward- looking information, forward-looking statements ("forward-looking statements"). The reader's attention is specifically drawn to the qualifications, disclosure and cautionary statements in these documents regarding forward-looking statements and reserve and resource estimates. The Company notes that such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond NZEC's control, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. All forward-looking statements are made as of the date of this document or the date of the documents referenced above, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
New Zealand Energy Corp Announces 2024 Quarter 4 Results
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announced today it has filed with Canadian regulatory authorities its Q4 2024 consolidated financial results and an accompanying management discussion and analysis report, which documents are available on the Company's website at and on SEDAR at Commenting on the Company's 2024 end of year results, CEO Michael said "The results saw a loss of $8,179,276 (compared to the 2023 loss of $2,075,929) which included significant non-cash expenses including depreciation and depletion. Overall, there was a $3,568 increase in cash at year end and $1,131,605 was held as at 31 December 2024. Cash used by operating activities was ($1,962,125), compared to 2023 of $1,404,159 of cash used by operations. The Company achieved average net daily production of 17 boe/d (98% oil) through 2024 compared to 27 boe/d (99% oil) during 2023. Waihapa/Ngaere production was curtailed through Q4 2024 while the Tariki-5/5A well was being drilled and tested, and there was no oil production from Copper Moki through the whole year. With respect to development operations, Mr Adams commented: "In the final quarter of 2024, the Tariki-5A gas development and storage well was successfully drilled, confirming the anticipated excellent reservoir quality, and the initial flow test results were very encouraging. However, since February 2025, the well has faced challenges in maintaining continuous flow due to liquid loading in the 3.5" completion, which was initially optimized for gas storage operations. This issue has led to an earlier focus on converting the field to gas storage operations than originally planned, and work on this conversion is currently underway. The Copper Moki-1 and -2 wells have been out of service since 2022 and 2023, respectively, due to pump failures. Plans to work over these wells in the second quarter of 2025 are progressing as scheduled, with the RIVAL rig set to arrive at the location in early June 2025. This joint project with Monumental Energy Corp. (MNRG) has the potential to add more than 200 barrels of oil per day (bopd) and associated gas to the company's production by the end of Q2 2025. At the Waihapa-Ngaere oil field, efforts are in progress to bring several wells back into continuous production service. This work involves a combination of surface and sub-surface low-cost interventions and is expected to be completed in the third quarter of 2025. The company anticipates that this will result in a further uplift in oil production of 25 to 40 bopd (100% share). With these production redevelopments in place, New Zealand Energy Corp. (NZEC) will be well-positioned to advance the Tariki Gas Storage project through to the Final Investment Decision (FID) stage. Following that, the company will continue with the appraisal and exploration of opportunities within the acreage it already holds." On behalf of the Board of Directors "Mike Adams" CEO New Zealand Energy ContactsEmail: info@ Website: Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING INFORMATION AND CAUTIONARY NOTE REGARDING RESERVE ESTIMATES This document, the consolidated financial statements for the year ended 31 December 2024 and the Management's Discussion and Analysis contain certain forward- looking information, forward-looking statements ("forward-looking statements"). The reader's attention is specifically drawn to the qualifications, disclosure and cautionary statements in these documents regarding forward-looking statements and reserve and resource estimates. The Company notes that such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond NZEC's control, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. All forward-looking statements are made as of the date of this document or the date of the documents referenced above, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. To view the source version of this press release, please visit Sign in to access your portfolio
