Business
Monumental Energy Announces Commercial Production at Waihapa H1
VANCOUVER, British Columbia, March 16, 2026--Monumental Energy Corp. ("Monumental" or the "Company") (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the successful restart of commercial production from all 7 perforations in the Mount Messenger formation located near the top of the Waihapa H1 well. The Waihapa H1 well is located within 100 meters of the Waihapa production facility and oil is being sent through the pipeline into a holding tank at the facility.
About this update from New Zealand Energy Corp.
[{"type":"text","content":"All 7 Perforations Achieved Significant Oil Production and Associated Gas","length":73,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, British Columbia, March 16, 2026--(BUSINESS WIRE)--Monumental Energy Corp. ("Monumental" or the "Company") (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the successful restart of commercial production from all 7 perforations in the Mount Messenger formation located near the top of the Waihapa H1 well. The Waihapa H1 well is located within 100 meters of the Waihapa production facility and oil is being sent through the pipeline into a holding tank at the facility.","length":512,"tagName":"p"},{"type":"text","content":"Monumental and New Zealand Energy Corp. ("NZEC") entered into a funding agreement (see the Company’s news releases dated January 12, 2026, March 5, 2026 and March 10, 2026), which enables Monumental to participate in mutually agreed-upon appraisal and development workover projects with NZEC and aimed at increasing oil and gas production from the area covered by Petroleum Mining Licences PML 38140 and PML 38141 (together, the "Licences"). The Waihapa H1 well is another project the parties have chosen under the funding agreement. NZEC holds a 50% interest in the Licences, both being located in the onshore Taranaki Basin, New Zealand.","length":659,"tagName":"p"},{"type":"text","content":"ABOUT WAIHAPA H1","length":16,"tagName":"p"},{"type":"text","content":"Waihapa H1 was drilled in 2008 and produced oil from the lower Tikorangi formation at rates above 1500 barrels a day. The NZEC and Monumental exploration team have identified 60 meters of prospective "bypass pay" in the Mount Messenger formation above the Tikorangi formation, which is the same zone that was perforated at Ngaere-1 (see the Company’s March 5, 2026 news release).","length":389,"tagName":"p"},{"type":"text","content":"Seven 6-meter perforations all encountered natural, high pressured oil flow with no additional stimulation besides a perforation gun. Oil production started when the first perforated areas came on line as of Friday, March 13, 2026. Monumental expects to publish the stabilized flow rate and total production of oil and gas once testing has been completed and the data assessed.","length":377,"tagName":"p"},{"type":"text","content...