Welcome to our dedicated page for New Zealand Energy news (Ticker: NZERF), a resource for investors and traders seeking the latest updates and insights on New Zealand Energy stock.
New Zealand Energy Corp (NZERF) provides critical updates on oil and gas exploration, production activities, and strategic partnerships in New Zealand's energy sector. This page aggregates official announcements and operational developments for stakeholders tracking the company's progress in addressing domestic energy needs through natural gas production and storage solutions.
Investors and industry observers will find timely updates on drilling operations, joint venture milestones, and gas sales agreements. The resource covers technical developments including well completions, seismic surveys, and infrastructure upgrades while maintaining compliance with New Zealand's energy regulations.
Key content categories include exploration results, production reports, partnership announcements, and regulatory filings. All materials are sourced directly from company disclosures to ensure accuracy and relevance for financial decision-making.
Bookmark this page for structured access to NZERF's latest operational updates and strategic initiatives in New Zealand's evolving energy landscape. Check regularly for new developments impacting the company's market position and resource development timelines.
New Zealand Energy Corp (TSXV: NZ) has entered into a farmout agreement with Monumental Energy Corp for the repair and workover of two wells, Copper Moki 1 & 2, in the Taranaki Basin, New Zealand. Under the agreement, Monumental will invest approximately NZ$800,000 in exchange for 75% of oil and gas revenue until investment recovery, followed by a 25% net revenue interest. The workovers are expected to begin in Q4 2024, subject to regulatory approvals and equipment availability. Monumental currently holds approximately 8.0% of NZEC's outstanding shares.
New Zealand Energy Corp. (TSXV: NZ) has announced significant changes to its leadership team. The board of directors has appointed Mike Adams as the new Chief Executive Officer and Frank Jacobs as the Chairman of the Board. Additionally, Bill Treuren has joined as a director of the The company also reported that James Willis has stepped down from his positions as director and officer.
New Zealand Energy Corp (TSXV: NZ) has provided an update on the Tariki-5 gas development well project. The Tariki Joint Venture, owned 50% by NZEC Tariki and 50% by L&M Energy , plans to modify the well's bottomhole track. The current well, drilled to 2,637m, will be plugged back to 2,432m due to intersecting a fault in a 'worst case scenario' location.
The company plans to drill a new bottomhole wellbore to intersect the Tariki reservoir up dip of the fault. Management expects this modification will result in a successful gas producing well, suitable for future gas storage. Drilling will resume after the mandatory crew rest period.
New Zealand Energy Corp. (TSXV: NZ) has provided an operational update on the Tariki-5 gas development well. The well, drilled to a depth of 2,637m, failed to encounter the targeted Tariki Sandstone reservoir. The Tariki Joint Venture, owned equally by NZEC Tariki and L&M Energy , is now assessing geological results and planning to sidetrack the well to a nearby location where reservoir sands are expected. Operations will temporarily pause for mandatory crew rest while planning and preparations continue. A further update on drilling plans will be provided by November 1, 2024.
New Zealand Energy Corp. (NZEC) has provided an operational update on the Tariki-5 gas development well. The Tariki Joint Venture, which includes NZEC Tariki and L&M Energy , reports that the well is preparing to commence drilling ahead from a depth of 873.5 m after successfully setting and cementing 9 5/8" casing at 870 m. The project is currently on schedule and on budget. Key sections of the well are expected to be encountered as follows:
- Tikorangi Limestone (secondary target): 12-14 October 2024
- Tariki Sandstone (primary target): 17-21 October 2024
Frank Jacobs, through a controlled company, has disposed of 100,000 common shares of New Zealand Energy Corp. (NZERF) by way of a gift to his children. This represents a 0.67% reduction in his ownership. Prior to the disposition, Jacobs controlled 2,227,163 common shares (14.86% of outstanding shares) and 200,000 stock options. After the disposition, Jacobs now controls 2,127,163 common shares (14.19%) and retains the 200,000 stock options. If all options were exercised, Jacobs would control 15.32% of outstanding shares. Jacobs currently has no intention of further acquisitions or dispositions but may do so depending on market conditions. An Early Warning Report will be filed on SEDAR+ as required by Canadian securities legislation.
New Zealand Energy Corp. (TSXV: NZ) has provided an operational update on the Tariki-5 gas development well. The Tariki Joint Venture, consisting of NZEC Tariki (50%) and L&M Energy (50%), commenced drilling on 30 September 2024. The well is expected to reach a total depth of 2846 m AHRT in 27 days.
Key drilling sections include:
- Tikorangi Limestone (secondary target): 12-14 October 2024
- Tariki Sandstone (primary target): 16-21 October 2024
Contractual arrangements for gas transportation through New Zealand's main gas network and delivery to Genesis Energy have been completed.
New Zealand Energy Corp. (TSXV: NZ) has provided updates on its Tariki-5 gas production and storage project. The Tariki Joint Venture has signed a gas handling agreement with Cheal Petroleum , allowing for processing of up to 8.5 TJ/D of gas. A Gas Sales Agreement with Genesis Energy includes a NZ$2 million upfront payment upon well spudding, expected around September 23, 2024. All necessary contractual arrangements for gas transportation and delivery are complete. Drilling operations are scheduled for completion and tie-in by November 11, 2024. The project aims to address New Zealand's domestic gas shortage by delivering critical and reliable energy resources.
New Zealand Energy Corp. (TSXV: NZ) has released its Q2 2024 financial results, reporting a total comprehensive loss of $2,100,963, compared to a loss of $1,385,085 in 2023. The company's cash position improved, with $3,800,130 held at the end of the quarter, representing a $2,588,788 increase. However, cash used in operating activities rose to $1,541,045, up from $292,118 in 2023.
The company's primary focus remains the Tariki gas development project, with drilling of the Tariki-5 well scheduled to commence in September 2024. NZEC has secured gas processing arrangements and transmission contracts to facilitate production and sales upon completion. Additionally, NZEC announced a gas sale agreement with Genesis Energy , which includes an option to evaluate gas storage at Tariki.
New Zealand Energy Corp. (TSXV: NZ) has announced an update on the Tariki-5 gas well. The Tariki Joint Venture, comprising NZEC Tariki (50%) and L&M Energy (50%), has been informed of a delay in rig mobilization due to mechanical issues with another party's well. Drilling operations are now expected to start on September 23, 2024, with completion and tie-in likely by November 11, 2024. This represents a two-week delay from the original schedule.
Despite the setback, long lead items are expected to be available on time, and permitting is progressing well. The company is also nearing completion of an agreement for gas export and processing, well ahead of production commencement.
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