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New Zealand Energy Corp. Provides an Update on Copper Moki Production, Its Recent Waihapa Ngaere Production Increase, and Announces 2025 Q2 Results
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2025) - New Zealand Energy Corp. ...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Corp. Provides an Update on Copper Moki Production, Its Recent Waihapa Ngaere Production Increase, and Announces 2025 Q2 ResultsVancouver, British Columbia--(Newsfile Corp. - August 14, 2025) - New Zealand Energy Corp.  (TSXV: NZ) (\"NZEC\" or the \"Company\") announced today it has filed its condensed consolidated interim financial statements for the six months ended June 30, 2025, the accompanying management's discussion and analysis, and related certifications, which documents are available on the Company's website at www.newzealandenergy.com and on SEDAR+ at www.sedarplus.ca. Commenting on the Company's second quarter 2025 results, CEO Mike Adams said: \"The results saw a total comprehensive loss of $2,567,631. (2024: loss of $2,100,963). There was a $978,151 decrease in cash held ($61,250 was held at the end of the quarter). Cash used in operating activities for the quarter was $676,152 (2024: used $1,541,045).\"NZEC also provides the following updates on the Copper Moki workovers and Waihapa Ngaere production.Copper Moki ProductionCopper Moki-1 was successfully recompleted with production commencing in late July 2025. Both Copper Moki-1 and Copper Moki-2 are now producing together with aggregate production rates of ~105 BOE/d (~90 bopd). These rates are improving as the wells produce out completion fluids and pump speeds are increased slowly to match reservoir inflows to pump rates.Mr. Adams, CEO of NZEC commented: \"The resumption of oil and gas production at the Copper Moki site provides the Company with reliable oil production and, importantly, a continuous supply of gas for both the Copper Moki site and the Waihapa Production Station. The supply of continuous associated gas to Waihapa unlocks the ability to return some of the Waihapa-Ngaere wells to continuous production and enable gas exports to market, which we expect to commence later in Q3.\"Both Copper Moki workovers were carried out in partnership with Monumental Energy Corp. (TSXV: MNRG), as previously announced. Waihapa Ngaere Production (JV - NZEC share 50%)Oil and gas production from Waihapa-Ngaere recommenced in late March 2025 beginning with 4 wells operating on periodic well unloads without the use of gas-lift. Following a successful recommissioning of the Ngaere-1 pipeline in July, production from that well re-commenced mid Ju...