New Zealand Energy Corp. Provides Update on Copper Moki Workovers and the Tariki Gas Storage Development
New Zealand Energy Corp. (TSXV: NZ, OTCQB: NZERF) has reported progress on two key projects: the Copper Moki workovers and Tariki Gas Storage development. The Copper Moki-2 well was successfully recompleted on June 20, 2025, achieving production rates of 48 to 60 barrels of oil per day during testing. Workover operations on Copper Moki-1 began on June 26, 2025, with completion expected by July 6, 2025.
For the Tariki Gas Storage Project, the company is conducting structural remapping using Prestack Depth Migrated (PSDM) dataset and has completed dynamic reservoir modeling. The modeling suggests that gas-lift operations for up to three weeks should be sufficient to restart gas production from the Tariki-5A well. The company plans to begin well and facility engineering activities in Q3 2025, with gas storage capacity studies and facility development concept studies scheduled for completion in August 2025.
[ "Copper Moki-2 well successfully restored to production with 48-60 barrels of oil per day", "Gas-lift modeling confirms potential to re-establish gas production at Tariki-5A well", "Gas storage development studies progressing on schedule for August 2025 completion" ]New Zealand Energy Corp. (TSXV: NZ, OTCQB: NZERF) ha riportato progressi su due progetti chiave: i lavori di manutenzione su Copper Moki e lo sviluppo del deposito di gas Tariki. Il pozzo Copper Moki-2 è stato ricondizionato con successo il 20 giugno 2025, raggiungendo tassi di produzione di 48-60 barili di petrolio al giorno durante i test. Le operazioni di manutenzione su Copper Moki-1 sono iniziate il 26 giugno 2025, con completamento previsto entro il 6 luglio 2025.
Per il progetto di stoccaggio del gas Tariki, la società sta effettuando una nuova mappatura strutturale utilizzando il dataset Prestack Depth Migrated (PSDM) e ha completato la modellazione dinamica del giacimento. La modellazione indica che operazioni di sollevamento a gas per un periodo fino a tre settimane dovrebbero essere sufficienti per riavviare la produzione di gas dal pozzo Tariki-5A. La società prevede di iniziare le attività di ingegneria per pozzi e impianti nel terzo trimestre del 2025, con studi sulla capacità di stoccaggio del gas e studi concettuali per lo sviluppo degli impianti da completare entro agosto 2025.
- Pozzo Copper Moki-2 ripristinato con successo alla produzione con 48-60 barili di petrolio al giorno
- La modellazione del gas-lift conferma il potenziale per ristabilire la produzione di gas dal pozzo Tariki-5A
- Gli studi per lo sviluppo dello stoccaggio del gas procedono secondo i tempi previsti per il completamento ad agosto 2025
New Zealand Energy Corp. (TSXV: NZ, OTCQB: NZERF) ha informado avances en dos proyectos clave: las intervenciones en Copper Moki y el desarrollo del almacenamiento de gas Tariki. El pozo Copper Moki-2 fue recompletado con éxito el 20 de junio de 2025, alcanzando tasas de producción de 48 a 60 barriles de petróleo por día durante las pruebas. Las operaciones de intervención en Copper Moki-1 comenzaron el 26 de junio de 2025, con finalización prevista para el 6 de julio de 2025.
Para el Proyecto de Almacenamiento de Gas Tariki, la compañía está realizando un remapeo estructural utilizando el conjunto de datos Prestack Depth Migrated (PSDM) y ha completado la modelización dinámica del yacimiento. La modelización sugiere que las operaciones de levantamiento por gas durante hasta tres semanas deberían ser suficientes para reiniciar la producción de gas del pozo Tariki-5A. La compañía planea iniciar actividades de ingeniería de pozos e instalaciones en el tercer trimestre de 2025, con estudios de capacidad de almacenamiento de gas y estudios conceptuales de desarrollo de instalaciones programados para completarse en agosto de 2025.
- Pozo Copper Moki-2 restaurado con éxito a producción con 48-60 barriles de petróleo por día
- La modelización de levantamiento por gas confirma el potencial para restablecer la producción de gas en el pozo Tariki-5A
- Los estudios para el desarrollo del almacenamiento de gas avanzan según lo previsto para su finalización en agosto de 2025
New Zealand Energy Corp. (TSXV: NZ, OTCQB: NZERF)는 두 가지 주요 프로젝트에서 진전을 보고했습니다: Copper Moki 작업 재개와 Tariki 가스 저장 개발입니다. Copper Moki-2 유정은 2025년 6월 20일 성공적으로 재완성되어 시험 중에 하루 48~60배럴의 석유 생산량을 달성했습니다. Copper Moki-1 작업 재개는 2025년 6월 26일 시작되었으며, 2025년 7월 6일까지 완료될 예정입니다.
Tariki 가스 저장 프로젝트의 경우, 회사는 Prestack Depth Migrated (PSDM) 데이터를 사용한 구조 재매핑을 진행 중이며, 동적 저수지 모델링을 완료했습니다. 모델링 결과에 따르면 최대 3주간의 가스 리프트 작업으로 Tariki-5A 유정의 가스 생산 재개가 가능할 것으로 보입니다. 회사는 2025년 3분기에 유정 및 시설 엔지니어링 활동을 시작할 계획이며, 2025년 8월까지 가스 저장 용량 연구와 시설 개발 개념 연구를 완료할 예정입니다.
- Copper Moki-2 유정이 하루 48~60배럴 석유 생산으로 성공적으로 복구됨
- 가스 리프트 모델링이 Tariki-5A 유정의 가스 생산 재개 가능성을 확인함
- 가스 저장 개발 연구가 2025년 8월 완료를 목표로 순조롭게 진행 중
New Zealand Energy Corp. (TSXV: NZ, OTCQB: NZERF) a annoncé des progrès sur deux projets clés : les travaux de remise en état de Copper Moki et le développement du stockage de gaz Tariki. Le puits Copper Moki-2 a été recomplété avec succès le 20 juin 2025, atteignant des débits de production de 48 à 60 barils de pétrole par jour lors des tests. Les opérations de remise en état sur Copper Moki-1 ont débuté le 26 juin 2025, avec une finalisation prévue pour le 6 juillet 2025.
Pour le projet de stockage de gaz Tariki, la société réalise une nouvelle cartographie structurale à l'aide du jeu de données Prestack Depth Migrated (PSDM) et a achevé la modélisation dynamique du réservoir. La modélisation suggère que des opérations de gaz lift pendant jusqu'à trois semaines devraient suffire à relancer la production de gaz du puits Tariki-5A. La société prévoit de commencer les activités d’ingénierie des puits et des installations au troisième trimestre 2025, avec des études sur la capacité de stockage de gaz et des études conceptuelles de développement des installations prévues pour être terminées en août 2025.
- Le puits Copper Moki-2 a été remis en production avec succès à un débit de 48-60 barils de pétrole par jour
- La modélisation du gaz lift confirme le potentiel de relancer la production de gaz au puits Tariki-5A
- Les études de développement du stockage de gaz progressent conformément au calendrier pour une finalisation en août 2025
New Zealand Energy Corp. (TSXV: NZ, OTCQB: NZERF) meldet Fortschritte bei zwei wichtigen Projekten: den Überholungsarbeiten an Copper Moki und der Entwicklung des Tariki-Gasspeichers. Der Copper Moki-2-Bohrung wurde am 20. Juni 2025 erfolgreich reaktiviert und erreichte während der Tests Produktionsraten von 48 bis 60 Barrel Öl pro Tag. Die Überholungsarbeiten an Copper Moki-1 begannen am 26. Juni 2025 und sollen bis zum 6. Juli 2025 abgeschlossen sein.
Für das Tariki-Gasspeicherprojekt führt das Unternehmen eine strukturelle Neumodellierung mit dem Prestack Depth Migrated (PSDM)-Datensatz durch und hat die dynamische Reservoirmodellierung abgeschlossen. Die Modellierung deutet darauf hin, dass Gaslift-Operationen von bis zu drei Wochen ausreichen sollten, um die Gasproduktion aus dem Tariki-5A-Bohrloch wieder aufzunehmen. Das Unternehmen plant, im dritten Quartal 2025 mit den Bohrloch- und Anlageningenieurarbeiten zu beginnen, wobei Studien zur Gasspeicherkapazität und Konzeptstudien zur Anlagenentwicklung bis August 2025 abgeschlossen sein sollen.
- Copper Moki-2-Bohrung erfolgreich mit 48-60 Barrel Öl pro Tag wieder in Produktion genommen
- Gaslift-Modellierung bestätigt Potenzial zur Wiederaufnahme der Gasproduktion am Tariki-5A-Bohrloch
- Studien zur Gasspeicherentwicklung verlaufen planmäßig mit Abschluss im August 2025
- None.
- None.
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to provide the following updates on the Copper Moki workovers and on the Tariki Gas Storage project.
Copper Moki Workovers
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.
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."
Both Copper Moki workovers are being carried out in partnership with Monumental Energy Corp. (TSXV: MNRG), as previously announced.
Tariki Gas Storage Project
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.
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.
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."
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, 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, 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/257254
FAQ
What are the current production rates from the Copper Moki-2 well for NZERF?
When will New Zealand Energy Corp complete the Copper Moki-1 workover?
What is the timeline for NZERF's Tariki Gas Storage project completion?
How long will the gas-lift operations take to restart production at Tariki-5A?
Who is New Zealand Energy Corp's partner in the Copper Moki workovers?
