New Zealand Energy Corp. Provides an Update on Copper Moki Production, Its Recent Waihapa Ngaere Production Increase, and Announces 2025 Q2 Results
New Zealand Energy Corp. (TSXV: NZ) reported its Q2 2025 financial results and operational updates. The company recorded a total comprehensive loss of $2,567,631, compared to a loss of $2,100,963 in 2024, with cash holdings declining to $61,250 at quarter-end.
Key operational highlights include successful recompletion of Copper Moki-1, with combined Copper Moki-1 and Copper Moki-2 production reaching ~105 BOE/d. The Waihapa-Ngaere field resumed production in March 2025, with Ngaere-1 achieving impressive flush rates of over 400 bbls of oil in one day. Current trucking averages ~190 bbls per day.
Post-quarter, NZEC completed a $2,718,640 non-brokered private placement and terminated a $2,000,000 loan to Vliet Financing B.V.
New Zealand Energy Corp. (TSXV: NZ) ha comunicato i risultati finanziari e gli aggiornamenti operativi del secondo trimestre 2025. La società ha registrato una perdita complessiva di $2,567,631, rispetto a una perdita di $2,100,963 nel 2024, e la liquidità è scesa a $61,250 alla chiusura del trimestre.
Tra i punti salienti operativi c’è la recompletazione con successo di Copper Moki-1: la produzione combinata di Copper Moki-1 e Copper Moki-2 ha raggiunto circa 105 BOE/d. Il giacimento Waihapa-Ngaere ha ripreso la produzione a marzo 2025, con Ngaere-1 che ha registrato flush rate superiori a 400 bbl di petrolio in una sola giornata. Il trasporto via camion si mantiene in media intorno a ~190 bbl/giorno.
Successivamente alla chiusura del trimestre, NZEC ha completato un collocamento privato non intermediaro per $2,718,640 e ha risolto un prestito di $2,000,000 con Vliet Financing B.V.
New Zealand Energy Corp. (TSXV: NZ) informó sus resultados financieros y actualizaciones operativas del segundo trimestre de 2025. La compañía registró una pérdida integral total de $2,567,631, frente a una pérdida de $2,100,963 en 2024, y el efectivo se redujo a $61,250 al cierre del trimestre.
Entre los aspectos operativos clave destaca la recompletación exitosa de Copper Moki-1; la producción combinada de Copper Moki-1 y Copper Moki-2 alcanzó aproximadamente 105 BOE/d. El yacimiento Waihapa-Ngaere reanudó la producción en marzo de 2025, con Ngaere-1 alcanzando tasas de flujo inicial superiores a 400 bbl de petróleo en un día. El transporte por camión promedia actualmente alrededor de ~190 bbl/día.
Tras el cierre del trimestre, NZEC completó una colocación privada sin intermediarios por $2,718,640 y dio por terminado un préstamo de $2,000,000 a Vliet Financing B.V.
New Zealand Energy Corp. (TSXV: NZ)는 2025년 2분기 재무실적 및 운영 업데이트를 발표했습니다. 회사는 총포괄손실 $2,567,631을 기록했으며, 이는 2024년의 $2,100,963 손실보다 큰 수치이고 분기 말 현금 잔액은 $61,250로 감소했습니다.
주요 운영 성과로는 Copper Moki-1의 성공적인 재완성과 함께 Copper Moki-1 및 Copper Moki-2의 합산 생산량이 약 105 BOE/d에 달한 점이 있습니다. Waihapa-Ngaere 유전은 2025년 3월에 생산을 재개했으며, Ngaere-1은 하루에 400배럴이 넘는 초기 유출량(flush rate)을 기록했습니다. 현재 트럭 운송량은 일평균 약 ~190 배럴/일입니다.
분기 이후 NZEC는 중개인 없이 진행된 사모 자금조달로 $2,718,640을 조달했고, Vliet Financing B.V.에 대한 $2,000,000 대출을 종료했습니다.
New Zealand Energy Corp. (TSXV: NZ) a publié ses résultats financiers et mises à jour opérationnelles du deuxième trimestre 2025. La société a enregistré une perte globale de $2,567,631, contre une perte de $2,100,963 en 2024, et les disponibilités en trésorerie ont diminué à $61,250 à la clôture du trimestre.
Parmi les faits marquants opérationnels, on note la recompletion réussie de Copper Moki-1 : la production combinée de Copper Moki-1 et Copper Moki-2 s’est élevée à environ 105 BOE/d. Le champ Waihapa-Ngaere a repris la production en mars 2025, Ngaere-1 affichant des débits initiaux impressionnants de plus de 400 bbl de pétrole en une journée. Le transport par camion se situe actuellement en moyenne à environ ~190 bbl/jour.
Après la clôture du trimestre, NZEC a réalisé un placement privé sans courtier de $2,718,640 et a résilié un prêt de $2,000,000 accordé à Vliet Financing B.V.
New Zealand Energy Corp. (TSXV: NZ) veröffentlichte seine Finanzergebnisse und betrieblichen Updates für das zweite Quartal 2025. Das Unternehmen verzeichnete einen umfassenden Verlust von $2,567,631, gegenüber einem Verlust von $2,100,963 im Jahr 2024, und der Kassenbestand fiel zum Quartalsende auf $61,250.
Wichtige operative Highlights sind die erfolgreiche Recompletion von Copper Moki-1. Die kombinierte Produktion von Copper Moki-1 und Copper Moki-2 erreichte etwa 105 BOE/d. Das Waihapa-Ngaere-Feld nahm im März 2025 die Produktion wieder auf, wobei Ngaere-1 beeindruckende Flush-Raten von über 400 bbl Öl an einem Tag erzielte. Der derzeitige Lkw-Transport liegt im Durchschnitt bei etwa ~190 bbl/Tag.
Nach Quartalsende schloss NZEC eine nicht vermittelte Privatplatzierung über $2,718,640 ab und beendete ein Darlehen in Höhe von $2,000,000 an Vliet Financing B.V.
- Copper Moki-1 and Copper Moki-2 achieving combined production of ~105 BOE/d (~90 bopd)
- Ngaere-1 well showing strong performance with over 400 bbls oil production in one day
- Successful completion of $2.72M private placement
- Termination of $2M loan liability to Vliet Financing
- Reduction in cash used in operating activities to $676,152 from $1,541,045 in 2024
- Total comprehensive loss increased to $2.57M from $2.1M in 2024
- Significant decrease in cash holdings to just $61,250
- Production rates currently limited by Waihapa Production Station capacity
- Unpredictable water arrival risk in Ngaere-1 fractured reservoir
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announced today it has filed its condensed consolidated interim financial statements for the six months ended June 30, 2025, the accompanying management's discussion and analysis, and related certifications, which documents are available on the Company's website at www.newzealandenergy.com and on SEDAR+ at www.sedarplus.ca.
Commenting on the Company's second quarter 2025 results, CEO Mike Adams said: "The results saw a total comprehensive loss of
NZEC also provides the following updates on the Copper Moki workovers and Waihapa Ngaere production.
Copper Moki Production
Copper Moki-1 was successfully recompleted with production commencing in late July 2025. Both Copper Moki-1 and Copper Moki-2 are now producing together with aggregate production rates of ~105 BOE/d (~90 bopd). These rates are improving as the wells produce out completion fluids and pump speeds are increased slowly to match reservoir inflows to pump rates.
Mr. Adams, CEO of NZEC commented: "The resumption of oil and gas production at the Copper Moki site provides the Company with reliable oil production and, importantly, a continuous supply of gas for both the Copper Moki site and the Waihapa Production Station. The supply of continuous associated gas to Waihapa unlocks the ability to return some of the Waihapa-Ngaere wells to continuous production and enable gas exports to market, which we expect to commence later in Q3."
Both Copper Moki workovers were carried out in partnership with Monumental Energy Corp. (TSXV: MNRG), as previously announced.
Waihapa Ngaere Production (JV - NZEC share
Oil and gas production from Waihapa-Ngaere recommenced in late March 2025 beginning with 4 wells operating on periodic well unloads without the use of gas-lift.
Following a successful recommissioning of the Ngaere-1 pipeline in July, production from that well re-commenced mid July 2025 with flush rates of more than 400 bbls of oil produced in one day. As a result, the field production rates are temporarily limited to the rate at which the Waihapa Production Station can hold oil in tanks onsite for stabilization and then truck oil to the port. Over the last two weeks, the trucking has averaged ~190 bbls per day (NZEC share ~95 bbls per day).
The focus for Waihapa Ngaere for the next month is to remove system bottlenecks so that the increased oil rate can be produced continuously and transported to port via the oil pipeline.
Mr. Adams, CEO of NZEC commented: "The result from Ngaere-1 is welcome and is much better than we anticipated. Nevertheless, we should keep in mind that this is a fractured reservoir, and it is near impossible to predict when water will arrive in Ngaere-1. On the other hand, Ngaere-1 is demonstrably oil bearing at 15m downdip from the Waihapa-H1 well, which does need work to be returned to continuous production. The Ngaere-1 result means that we have prioritized the Waihapa-H1 well work for implementation in the next quarter."
Subsequent to the quarter end NZEC successfully completed a non-brokered private placement of
On behalf of the Board of Directors
"Michael Adams"
CEO
New Zealand Energy Contacts
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 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, Waihapa Ngaere production. 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, affecting 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. 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262447
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