Announcement • Mar 06
Monumental Energy Announces Successful Perforation and Strong Initial Production Results from Ngaere-1 Well, in Partnership with New Zealand Energy Corp. and L&M Energy Ltd Monumental Energy Corp. announced the successful perforation and strong initial production results from the Ngaere-1 well, in partnership with New Zealand Energy Corp. and L&M Energy Ltd. NZEC is the holder of a 50% interest in the Petroleum Mining Licences PML 38140 and PML 38141 (together, the “Licences”) located in onshore Taranaki, New Zealand, pursuant to a joint operating agreement between NZEC and L&M Energy Limited (the “JOA”). The Partnership enables Monumental to participate in certain mutually agreed upon appraisal and development workover projects with NZEC to increase oil and gas production from the area covered by the Licenses. The parties have selected Ngaere-1 well as the first project under the Partnership. The Ngaere-1 well was successfully perforated into a previously untested “bypass pay zone” less than two weeks ago under the recently executed funding and gainshare agreement between the Partnership (see the Company’s news release dated January 13, 2026 and NZEC’s news release dated February 4, 2026). Following perforation, the well immediately flowed oil and gas, producing 580 barrels of crude oil within the first six hours of operation. Production was temporarily shut-in to allow additional tanker capacity to arrive on site to transport the crude for delivery to port and subsequent refining. Since recommencing operations, the Ngaere-1 workover well has produced approximately 3,000 barrels of crude oil to date, currently stabilizing at approximately 120 barrels of oil per day, without the benefit of additional stimulation and optimization activities which are planned for a future date. For context, Brent crude oil prices are currently above US$85 per barrel, with New Zealand crude typically achieving only a modest discount to Brent pricing. Operating costs in New Zealand are primarily denominated in New Zealand dollars (currently approximately US$1 = NZ$1.68). Although the Ngaere-1 well was originally drilled more than 30 years ago, the upper zone that is now producing was not previously evaluated, resulting in limited historical log data for this interval. Despite this uncertainty, the well flowed oil and gas immediately upon perforation, and initial production revenues have already recovered the workover costs within the first weeks of operation. The next phase of work will focus on continued production and reservoir evaluation while preparing for a recompletion program designed to increase drawdown on the reservoir, which is expected to further enhance production rates and ultimate recoverable reserves. The Partnership considers the initial results highly encouraging given the historical log uncertainty and believes they demonstrate the potential for similar opportunities across the field. Following the strong initial results from the cost-effective perforation of the Mount Messenger Formation at the Ngaere-1 well, the Partnership has agreed to immediately advance similar perforation operations at the Waihapa H1 and Ngaere-2 wells. These perforations are expected to take place as soon as operational logistics permit and will target the same formation that has demonstrated encouraging early production at Ngaere-1. The Company’s management believes these additional perforations represent a low-cost, high-impact opportunity to unlock previously bypassed hydrocarbon zones within existing wells. Success at these locations could further validate the broader potential of the Mount Messenger Formation across the permit area and provide additional near-term production growth. Announcement • Feb 05
New Zealand Energy Corp. announced that it has received CAD 3.5 million in funding from Monumental Energy Corp. On February 4, 2026, New Zealand Energy Corp. closed the transaction. The transaction included participation from returning investor Announcement • Jan 24
New Zealand Energy Corp. announced that it expects to receive CAD 3.5 million in funding New Zealand Energy Corp. announced non-brokered private placement of up to 17,500,000 common shares at a price of CAD 0.20 per Common Share for gross proceeds of CAD 3,500,000 on January 22, 2026. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Offering is being made pursuant to Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers that are resident in Canada. The Offering may also be made available to purchasers that are resident in certain jurisdictions outside of Canada, including the United States and the United Kingdom, in compliance with applicable securities laws. The Offering is expected to close on or about February 5, 2026, or on such other date as the Company may decide. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange ("TSXV"). The Company may pay certain advisory fees to arm's length parties in connection with the Offering. 
