Business
New Zealand Energy Corp. Provides Operational Update
Vancouver, British Columbia--(Newsfile Corp. - March 9, 2026) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to provide an operational update regarding recent production activity in the area covered by NZEC's 50% interest in PML 38140 and PML 38141, and ongoing Tariki Gas Storage Project development initiatives, located in onshore Taranaki, New Zealand.Ngaere-1 Initial ProductionNZEC, together with its joint venture partner L&M Energy Ltd. ("L&M") and in partnership..
About this update from Monumental Energy Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 9, 2026) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to provide an operational update regarding recent production activity in the area covered by NZEC's 50% interest in PML 38140 and PML 38141, and ongoing Tariki Gas Storage Project development initiatives, located in onshore Taranaki, New Zealand.","length":412,"tagName":"p"},{"type":"text","content":"Ngaere-1 Initial Production","length":27,"tagName":"p"},{"type":"text","content":"NZEC, together with its joint venture partner L&M Energy Ltd. ("L&M") and in partnership with Monumental Energy Corp. (TSXV: MNRG) ("Monumental"), recently completed perforation operations at the Ngaere-1 well targeting the Mount Messenger Formation. The well immediately flowed oil and gas following perforation, producing approximately 580 barrels of oil within the first six hours of operation and approximately 3,000 barrels of oil to date. Production is currently stabilizing at approximately 120 barrels of oil per day without additional stimulation or optimization. Oil sales in New Zealand generally occur at local prices equivalent to Brent crude, which is currently at approximately US$85 per barrel.","length":748,"tagName":"p"},{"type":"text","content":"The encouraging initial results demonstrate the potential of previously bypassed hydrocarbon zones within existing wells and support further workover and optimization activities. Initial production revenues have already recovered the workover costs within the first weeks of operation.","length":285,"tagName":"p"},{"type":"text","content":"Additional Workover Opportunities","length":33,"tagName":"p"},{"type":"text","content":"Following the strong results at Ngaere-1, the partnership plans to proceed with similar perforation operations at the Waihapa H1 and Ngaere-2 wells. These programs are expected to represent low-cost opportunities to unlock additional production from the Mount Messenger Formation across the permit areas. Activities are due to commence in the next few days with flow results expected in the next 2-3 weeks.","length":406,"tagName":"p"},{"type":"text","content":"Tariki Gas Storage Project and Outlook for 2026","length":47,"tagName":"p"},{"type":"text","content":"Separately, the joint v...