Business
New Zealand Energy Corp. Provides Update on Tariki-5
New Plymouth, New Zealand--(Newsfile Corp. - September 29, 2024) - New Zealand Energy Corp. (TSXV...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Corp. Provides Update on Tariki-5New Plymouth, New Zealand--(Newsfile Corp. - September 29, 2024) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") is pleased to provide an operational update regarding the Tariki-5 gas development well.The Tariki Joint Venture, comprised of the Company's wholly owned subsidiary, NZEC Tariki Limited (as to 50%) and L&M Energy Limited (as to 50%), reports that operations for the Tariki-5 well commenced drilling at 6.30 (New Zealand Standard Time) on 30 September 2024. The well is planned to take 27 days to reach the target total depth of 2846 m AHRT (Along Hole below Rotary Table). The key sections of the well are expected to be drilled over the following date ranges:Tikorangi Limestone (fractured reservoir secondary target for information only) 12 to 14 October 2024; and Tariki Sandstone (primary development target for full evaluation) 16 to 21 October 2024. The current planning indicates well drilling operations including driling, and completion is expected to be completed by 26 October 2024. Well perforation, clean-up flow and tie-in of the well to production is expected to be completed by 14 November 2024.As previously announced, all other contractual arrangements necessary to allow gas to be transported through the main New Zealand gas network and to allow gas to be delivered to Genesis Energy have already been completed.On behalf of the Board of Directors‎\"James Willis\"‎ChairmanNew Zealand Energy Corp.Tel: +64-6-757-4470‎New Zealand Energy Corp. 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 and the Tariki Joint Venture, including future plans and objectives, the gas sales agreement, and the Tariki-5 well. There can be no assurance that...