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Monumental Energy Announces Perforations Have Commenced at the Waihapa H1 Well
VANCOUVER, British Columbia, March 10, 2026--Monumental Energy Corp. ("Monumental" or the "Company") (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the mobilization of the operations crew from the Ngaere-1 well to the Waihapa H1 well, located only a few kilometres away, in partnership with New Zealand Energy Corp. ("NZEC") and L&M Energy Ltd. ("LME") (collectively, the "Partnership") (see the Company’s news releases dated January 13, 2026 and March 5, 2026).
About this update from New Zealand Energy Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, March 10, 2026--(BUSINESS WIRE)--Monumental Energy Corp. ("Monumental" or the "Company") (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the mobilization of the operations crew from the Ngaere-1 well to the Waihapa H1 well, located only a few kilometres away, in partnership with New Zealand Energy Corp. ("NZEC") and L&M Energy Ltd. ("LME") (collectively, the "Partnership") (see the Company’s news releases dated January 13, 2026 and March 5, 2026).","length":547,"tagName":"p"},{"type":"text","content":"NZEC holds a 50% interest in Petroleum Mining Licences PML 38140 and PML 38141 (together, the "Licences") located in the onshore Taranaki Basin, New Zealand, pursuant to a joint operating agreement between NZEC and LME.","length":229,"tagName":"p"},{"type":"text","content":"The Partnership enables Monumental to participate in mutually agreed-upon appraisal and development workover projects with NZEC aimed at increasing oil and gas production from the area covered by the Licences. The parties have selected the Waihapa H1 well as the next project under the Partnership.","length":298,"tagName":"p"},{"type":"text","content":"ABOUT WAIHAPA H1","length":16,"tagName":"p"},{"type":"text","content":"Waihapa H1 was drilled in 2008 and produced significant oil rates from the lower Tikorangi formation at significant rates above 1500 barrels a day and is still a small producing well since no additional work has been done to restimulate. The NZEC and Monumental exploration team have identified 60 meters of prospective "bypass pay" in the Mount Messenger formation, which is the same zone that was perforated at Ngaere-1 (March 5, 2026 news release).","length":461,"tagName":"p"},{"type":"text","content":"Seven 6-meter perforations will occur over the course of this week and flow testing will begin immediately. Numbers will be released to the market after an appropriate flow test has been completed.","length":197,"tagName":"p"},{"type":"text","content":"The Mount Messenger formation is the primary zone in the highly successful adjacent Cheal oil field which has produced roughly 12 million barrels of oil from a relatively small area size. Due to the success at Ngaere 1, it has been decided to perforate the H1 well over an extended zone ...