New Zealand Energy Corp. Announces Management Changes

Rhea-AI Summary

New Zealand Energy Corp (TSXV: NZ / OTC: NZERF) announced management changes effective October 31, 2025. Barry MacNeil is appointed Chief Financial Officer and Giuseppe (Pino) Perone is appointed Corporate Secretary and General Counsel. They succeed Ketan Chhima, who voluntarily stepped down from both roles effective the same date. The company thanked Mr. Chhima for his service and wished him well.

Background: Mr. MacNeil has over 20 years of senior financial and public company experience in the natural resources sector and has served as CFO for several TSXV companies. Mr. Perone is a corporate lawyer with extensive public company experience and currently serves as an officer and director of multiple TSXV-listed companies.

Positive

• Appointment of CFO with 20+ years senior financial experience
• New General Counsel with extensive public company legal experience
• Changes effective October 31, 2025 (immediate transition)

Negative

• Outgoing CFO departure may create short-term continuity risk

News Market Reaction – NZERF

-22.80%

1 alert

-22.80% News Effect

On the day this news was published, NZERF declined 22.80%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

New Plymouth, New Zealand--(Newsfile Corp. - October 31, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to announce the appointment of Barry MacNeil as Chief Financial Officer and Giuseppe (Pino) Perone as Corporate Secretary and General Counsel of the Company, effective October 31, 2025.

Mr. MacNeil and Mr. Perone succeed Ketan Chhima, who has voluntarily stepped down from his roles as Chief Financial Officer and Corporate Secretary effective the same date. The Company extends its sincere gratitude to Mr. Chhima for his dedicated service and meaningful contributions to NZEC during his tenure and wishes him continued success in his future endeavors.

Mr. MacNeil has over 20 years of senior financial management and public company experience in the natural resources sector, having served as CFO for several TSX Venture Exchange companies. Mr. Perone is a corporate lawyer with extensive public company experience, currently serving as an officer and director of several public companies listed on the TSX Venture Exchange.

About New Zealand Energy Corp.

NZEC is a publicly listed onshore producing oil and gas company with substantial permitted acreage for new oil and gas production opportunities in New Zealand's only producing sedimentary basin, the Taranaki. With a 50% ownership stake in the Waihapa production station, the Company can quickly tie in any near-term production and sell directly to market. For more information, please visit www.newzealandenergy.com.

For further information:
Mike Adams, Chief Executive Officer
Tel: +64-6-757-4470‎
Email: info@newzealandenergy.com 
Website: www.newzealandenergy.com

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.

Forward-Looking Statements

This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the Company's management changes. NZEC provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272612

FAQ

When do the New Zealand Energy Corp (NZERF) management changes take effect?

The appointments and the CFO's departure are effective October 31, 2025.

Who is the new CFO of New Zealand Energy Corp (NZERF)?

Barry MacNeil is appointed Chief Financial Officer effective October 31, 2025.

Who is the new Corporate Secretary and General Counsel for New Zealand Energy Corp (NZERF)?

Giuseppe (Pino) Perone is appointed Corporate Secretary and General Counsel effective October 31, 2025.

Why did Ketan Chhima leave his roles at New Zealand Energy Corp (NZERF)?

Ketan Chhima voluntarily stepped down from his roles as CFO and Corporate Secretary effective October 31, 2025.

What is Barry MacNeil's experience stated by New Zealand Energy Corp (NZERF)?

Mr. MacNeil has over 20 years of senior financial management and public company experience in the natural resources sector.

Does Giuseppe (Pino) Perone have public company experience for his role at New Zealand Energy Corp (NZERF)?

Yes. Mr. Perone is a corporate lawyer with extensive public company experience and serves as an officer and director of several TSXV-listed companies.