New Zealand Energy Corp. Announces Delay in The Filing of Its Annual Disclosure

About this update from New Zealand Energy Corp.

[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 1, 2026) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announced today that there will be a delay in the filing of certain required annual disclosure documents beyond the April 30, 2026 filing deadline.","length":291,"tagName":"p"},{"type":"text","content":"The delayed filings include the Company's audited annual consolidated financial statements for the year ended December 31, 2025, its related management's discussion and analysis and CEO and CFO certificates required by National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings along with NZEC's Forms 51-101F1, F2 and F3 as required by Part 2 of National Instrument 51-101- Standards of Disclosure for Oil and Gas Activities (collectively, the "Required Documents").","length":530,"tagName":"p"},{"type":"text","content":"The Company's filing delay has arisen due to timing considerations in the completion of the Company's year-end reporting process, including the impact of recent changes in the Company's senior management and external auditor. These transition matters have contributed to delays in completing the Company's independent oil and gas reserves evaluation, which is required to finalize both the Company's annual reserves disclosure and its audited annual consolidated financial statements for the year ended December 31, 2025.","length":541,"tagName":"p"},{"type":"text","content":"The Company is working diligently with its independent reserves evaluator and external auditors to finalize the reserves evaluation and complete the audit of the annual consolidated financial statements as expeditiously as possible. Based on this ongoing work, the Company currently expects to file the Required Documents before June 1, 2026.","length":342,"tagName":"p"},{"type":"text","content":"In connection with the anticipated filing delay, NZEC applied to the British Columbia Securities Commission (the "BCSC"), as its principal regulator, for a management cease trade order under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). The BCSC approved the application and issued the management cease trade order on May 1, 2026. Under the terms of the BCSC approval, the Company is required to fi...

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