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Auctus Initiates Coverage of New Zealand Energy Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - New Zealand Energy Corp. (T...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"Auctus Initiates Coverage of New Zealand Energy Corp.Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") is pleased to announce that Auctus Advisors LLP (\"Auctus\"), the Company's UK capital markets advisor, has initiated equity research coverage of the Company. A copy of the report is available from Auctus' website at www.auctusadvisors.co.uk. The report assesses the potential of the upcoming Tariki-5 well and the Company's gas storage project and the potential impact they could have on the share price. For further details, including the target share price, net asset value, assumptions and risk analysis, please review the entire posted report.The Company confirms that the rig for the drilling of Tariki-5 well has been identified and final contract details are being agreed to. All long-lead items for the drilling of the well have been secured. The target spud date is 23 August 2024, with drilling to a depth of 2,837m to take approximately 25-30 days with results expected in the third week of September.With the gas supply shortages in New Zealand, gas prices are at an all-time high with spot prices more than NZD15 per GJ (C$11 per mcf).On behalf of the Board of DirectorsNew Zealand Energy ContactsEmail: [email protected]: www.newzealandenergy.comNeither 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: This news release contains \"forward-looking information\" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the business of the Company, including future plans and objectives. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NZEC's current beliefs and is based on information currently available to NZEC and on assumptions NZEC believes are reasonab...