New Zealand Energy Corp. Provides an Update on Copper Moki Production, Its Recent Waihapa Ngaere Production Increase, and Announces 2025 Q2 Results

Rhea-AI Summary

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.

Positive

• 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

Negative

• 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 $2,567,631. (2024: loss of $2,100,963). There was a $978,151 decrease in cash held ($61,250 was held at the end of the quarter). Cash used in operating activities for the quarter was $676,152 (2024: used $1,541,045)."

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 50%)

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 $2,718,640 on 18 July 2025 and successfully terminated the loan to Vliet Financing B.V of $2,000,000 plus accrued interest.

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

FAQ

What were New Zealand Energy Corp's (TSXV: NZ) Q2 2025 financial results?

The company reported a total comprehensive loss of $2,567,631, compared to a $2,100,963 loss in 2024. Cash holdings decreased to $61,250, with operating activities using $676,152 in cash.

What is the current production rate from Copper Moki wells?

Copper Moki-1 and Copper Moki-2 are producing at combined rates of approximately 105 BOE/d (~90 bopd), with rates improving as wells produce out completion fluids.

How much did Ngaere-1 well produce after recommissioning?

After recommissioning in July 2025, Ngaere-1 achieved flush rates of over 400 bbls of oil in one day, with current trucking averaging ~190 bbls per day (NZEC share ~95 bbls per day).

What financing activities did NZEC complete after Q2 2025?

NZEC completed a non-brokered private placement of $2,718,640 on July 18, 2025, and successfully terminated a $2,000,000 loan to Vliet Financing B.V plus accrued interest.

What are the main operational challenges facing NZEC's production?

The main challenges include Waihapa Production Station capacity limitations affecting field production rates, system bottlenecks in oil transportation, and unpredictable water arrival risk in the Ngaere-1 fractured reservoir.