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Vancouver, British Columbia–(Newsfile Corp. – June 30, 2025) – New Zealand Energy Corp. (TSXV: NZ)\u00a0(“NZEC” or the “Company”) is pleased to provide the following updates on the Copper Moki workovers and on the Tariki Gas Storage project.<\/p>\n
Copper Moki Workovers<\/b><\/u><\/p>\n
The first well in the Copper Moki workover project, Copper Moki-2, was successfully recompleted on June 20, 2025 and immediately placed on a 5-day production test. By June 24, 2025 the hourly oil rates were equivalent to 48 to 60 barrels of oil per day.<\/p>\n
With respect to the Copper Moki-2 production test results, Mr. Adams CEO of NZEC commented: “The Copper Moki-2 well has been successfully restored to production and at oil rates as noted above. Workover operations on the Copper Moki-1 well commenced on June 26, 2025 and are expected to be completed by July 6, 2025. Once both wells are on production the Company will carry out rate testing to establish the maximum sustainable rates for these wells.”<\/p>\n
Both Copper Moki workovers are being carried out in partnership with Monumental Energy Corp. (TSXV: MNRG), as previously announced. <\/p>\n
Tariki Gas Storage Project<\/b><\/u><\/p>\n
The Tariki Gas Storage Project has also been progressed, structural remapping using a Prestack Depth Migrated (PSDM) dataset is underway to support the sub-surface modelling for the Tariki Gas Storage project. In addition, the Company has carried out dynamic reservoir and well performance modelling of the area in the vicinity of the Tariki-5A well to evaluate restoring the well to production. The modelling confirms that gas-lift for a period of up to three weeks is likely to be sufficient to re-establish gas production from the up-dip gas volumes. As a result, the Company plans to commence well and facility engineering activities to restart gas flow in Q3 of 2025.<\/p>\n
As previously reported, the sub-surface dynamic modelling to confirm the range of gas storage capacities, associated cushion gas requirements, operating pressures and rates, and long-term storage behavior is on schedule for delivery in August 2025. Gas Storage facility development concept studies are underway and are also scheduled for completion in August 2025. <\/p>\n
Mr. Adams CEO of NZEC commented, ‘We are very happy with the progress made at both the Copper Moki workovers and the Tariki Gas Storage project. There has never been a better time to embark on a gas storage business in New Zealand due to the alignment of declining domestic gas production, rising price volatility, the urgent need for energy security, supportive government policy, and the clear lack of existing large-scale storage infrastructure.” <\/p>\n
On behalf of the Board of Directors<\/p>\n
“Michael Adams”<\/p>\n
CEO <\/p>\n
New Zealand Energy Contacts<\/b> Neither 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.<\/b><\/i><\/p>\n 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, including future plans and objectives, the Copper Moki workover project, the Tariki gas storage development. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NZEC’s current beliefs and is based on information currently available to NZEC and on assumptions NZEC believes are reasonable. These assumptions include, but are not limited to: the underlying value of NZEC and its Common Shares, NZEC’s current and initial understanding and analysis of its projects and the development required for such projects; the costs of NZEC’s projects; NZEC’s general and administrative costs remaining constant; and the market acceptance of NZEC’s business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NZEC to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; industry condition; volatility of commodity prices; imprecision of reserve estimates; environmental risks; operational risks in exploration and development; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, \u200eaffecting NZEC; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in NZEC’s disclosure documents on the SEDAR+ website at www.sedarplus.ca<\/a>. Although NZEC has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of NZEC as of the date of this news release and, accordingly, is subject to change after such date. However, NZEC expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law<\/p>\n
Email: info@newzealandenergy.com<\/b><\/a>
Website: www.newzealandenergy.com<\/b><\/a><\/p>\n<\/div>\n![\"Corporate](\"https:\/\/images.newsfilecorp.com\/files\/2648\/257254_ba76d8e2146c2ba4_logo.jpg\"){kind=logo}
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