Welcome to our dedicated page for Monumental news (Ticker: MNMRF), a resource for investors and traders seeking the latest updates and insights on Monumental stock.
Monumental Energy Corp. (MNMRF) generates news around its activities in the critical and clean energy sector and its oil and gas projects. The company’s releases focus on project updates, workover operations, financing activities, and strategic partnerships related to its assets in New Zealand and Chile.
A key theme in Monumental’s news flow is the Copper Moki oil and gas wells in the Taranaki Basin, New Zealand. The company reports on workover campaigns at Copper Moki-1 and Copper Moki-2, including the commencement of operations, progress updates, and the resumption of commercial production. These updates describe technical steps such as downhole cleanouts, tubing and pump replacements, and perforation of the Mt. Messenger formation, as well as the resulting oil and associated gas production and royalty structures agreed with New Zealand Energy Corp.
Monumental’s news also covers its participation in additional production-focused workovers in the Waihapa/Ngaere Field in the Taranaki Basin, where it funds New Zealand Energy Corp.’s share of certain costs in exchange for royalty interests. Corporate announcements include non-brokered private placements to finance project work and general corporate purposes, as well as the retention of Yanne Capital LLC as a strategic advisor and future financing partner for potential oil and gas opportunities in New Zealand and Australia.
For investors and followers of MNMRF, this news stream provides insight into Monumental’s operational milestones, capital-raising plans, and evolving portfolio of critical mineral and hydrocarbon assets. Regular updates on workover progress, production status at Copper Moki, and developments at its lithium-brine and royalty interests in Chile help readers track how the company is advancing its stated strategy across the critical and clean energy space and oil and gas projects.
Monumental Energy (OTCQB: MNMRF) provided an operational update on its Copper Moki oil and gas wells and its investment in New Zealand Energy Corp (NZEC). The Copper Moki-1 and Copper Moki-2 wells are currently producing a combined 125 barrels of oil per day, with production trending upward. Under the agreement with NZEC, Monumental receives a 75% royalty on production until capital recovery, thereafter reducing to 25%.
NZEC reported progress on its Tariki Gas Storage Project, completed a C$2.72 million private placement, and eliminated C$2 million in debt. The Waihapa-Ngaere field, where NZEC holds a 50% JV interest, has resumed production with the Ngaere-1 well achieving flush rates exceeding 400 bbls of oil per day. Current field production averages approximately 180 bbls per day due to temporary infrastructure constraints.
Monumental Energy (OTCQB: MNMRF) has successfully restarted commercial production at its Copper Moki-1 and Copper Moki-2 wells in New Zealand's Taranaki Basin. CM-1 is currently producing 100 barrels of oil per day (bopd) while CM-2 is yielding 75 bopd, with both rates increasing daily.
The Company has implemented new pump systems designed for long-term performance, with potential combined flush production exceeding 300 bopd. Additional revenue streams include high-margin gas monetization, benefiting from New Zealand's premium gas prices of US$15-20 per MMBtu, and a 25% royalty on all oil and gas sales after initial capital recovery.
Monumental Energy (OTCQB: MNMRF) reported progress on the workover of its Copper Moki-1 (CM-1) oil and gas well in New Zealand's Taranaki Basin. The company has completed the recovery of pump rod and old tubing strings, with cleaning and new equipment installation currently underway.
The well's design rate is set at 150 bopd, with potential flush production from both CM-1 and CM-2 wells possibly exceeding 300 bopd. The company holds a 25% royalty agreement on all production, which increases to 75% until initial capital recovery.
Notably, the field has been integrated into the gas infrastructure, creating new revenue opportunities that were previously unavailable due to New Zealand's historical gas surplus.
Monumental Energy Corp (MNMRF) has provided an operational update on its Copper Moki 1 & 2 workover wells project in New Zealand's Taranaki basin. The company has invested $345,000 CAD to date, including a recent 70% deposit of $92,000 to contractor RIVAL.
The project timeline indicates that the RIVAL rig will begin setup at Copper Moki-2 during the week of May 12, 2025. The complete workover program for both wells is scheduled for 17 days, with expected completion by May 30, 2025. Upon successful completion, both wells will immediately resume production.
Under the revenue structure, Monumental will initially receive 75% of net revenues from oil and gas sales, later transitioning to a 25% royalty model. The company is also exploring potential new well sites with NZEC near the Waihapa production facility.
Monumental Energy Corp. (MNMRF) provides updates on its New Zealand operations. The Tariki-5A well has intersected target sands 11-meters higher than previous wells, confirming free gas and condensate presence. While peak flow rates exceeded 4mmscf/d, stable rates are around 1 mmscf/d with 25-30 bbls/d of condensate.
The company is advancing its gas storage project, with Stage 1 targeting injection rates of 10-15 mmscf/d and extraction rates of ~30 mmscf/d. The Tariki Gas Field can potentially store 25-40 Bscf of gas, with injection planned for Q4 2025.
At Copper Moki, workover operations are scheduled for April 2025, targeting combined oil rates exceeding 100 stb/oil. The company also received approval to reduce warrant exercise prices from $0.30 to $0.25 for 17,120,284 warrants.