Monumental Energy Announces Additional Participation in Production- Focused Workovers in the Taranaki Basin, New Zealand
Monumental Energy Announces Additional Participation in Production-
Focused Workovers in the Taranaki Basin, New Zealand
VANCOUVER, British Columbia--(BUSINESS WIRE)--October 15, 2025--Monumental
Energy Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB:
MNMRF) is pleased to announce its plans to participate in four production-focused initiatives
through workover projects jointly owned by New Zealand Energy Corp. (“NZEC”) and L&M
Energy (“LME”), a privately held oil and gas company.
The project workovers are currently held in equal partnership by NZEC and LME. Under the
participation terms, Monumental will fund NZEC’s 50% of the workover phase, while LME will
contribute its proportionate share of costs. These workovers will follow the same royalty
structure as that established for the successful Copper Moki programs, whereas Monumental will
earn a 25% royalty on NZEC’s production share after full recovery of its capital investment,
which will be repaid from 75% of NZEC’s net revenue interest.
Background of Additional Workovers
The Waihapa/Ngaere Field, located in the prolific Taranaki Basin of New Zealand, lies within
one of the country’s most productive hydrocarbon regions, recognized globally for its high
discovery rate and reliable performance relative to other mature basins worldwide.
Discovered in 1988, the Waihapa-H1 well flowed oil at rates of approximately 4,500 barrels per
day from the Tikorangi Limestone Formation at a depth of roughly 2,800 metres. Development
across the field throughout the 1990s focused on the Tikorangi, leading to production levels
exceeding 5 million barrels per year and cumulative recovery of approximately 24 million
barrels of oil and several tens of billions of cubic feet (BCF) of natural gas before tapering off in
the early 2000s. Reservoir engineering studies have since identified the potential for several
million barrels of additional recoverable oil within the broader field area.
Waihapa-H1 Re-entry
The Waihapa-H1 well, drilled in the early 2000s, initially flowed oil at rates of approximately
1,500 barrels per day from fracture porosity within the Tikorangi horizontal section. Production
ceased due to a collapse in the upper section of the wellbore. A workover program proposed to
return the well to production, includes jetting clean-out and the installation of new tubing. The
well site is located approximately 600 metres from, and easily connected to, the Waihapa
production facility.
Ngaere 1, 2 and 3 Wells
The Ngaere 1, 2, and 3 wells historically produced oil from the Tikorangi Formation. However, a
review of electric logs and drilling data has identified multiple shallower, hydrocarbon-charged
sand intervals in each well that present opportunities for additional oil and gas production. A
field redevelopment program has been designed to access and produce these bypassed pay zones.
The steel casing in each well will be perforated at the target intervals, followed by production
testing. All three wells are connected via existing pipelines to the Waihapa production and export
facilities, allowing for immediate oil and gas sales upon successful completion. In the event of
success, anticipated flow rates per well are expected to range from the tens to low hundreds of
barrels of oil per day.
Max Sali, VP Corporate Development and Director comments: “This participation represents
the continued advancement of Monumental’s strategy to generate non-dilutive, cash-flow-
generating opportunities through partnerships in proven production assets. These workovers
allow the Company to maintain exposure to near-term upside within established and stable
jurisdictions.”
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration,
and development of properties in the critical and clean energy sector, as well as investing in oil
and gas projects. The Company owns securities of New Zealand Energy Corp. and entered into a
call option and royalty agreement on the Copper Moki wells with New Zealand Energy Corp.
The Company also has an option to acquire a 75% interest and title to the Laguna cesium-lithium
brine project located in Chile. The Company holds a 2% net smelter return royalty on Summit
Nanotech’s share of any future lithium production from the Salar de Turi Project.
On behalf of the Board of Directors,
/s/ “Michelle DeCecco”
Michelle DeCecco, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release.
Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of
applicable securities laws, which may include, without limitation, the expected cumulative
production data (BBL and BOE) on Copper Moki 1 & 2 wells in the coming weeks, the expected
results and outcomes from Copper Moki 1 & 2 wells, potential oil and gas transactions, other
statements relating to the technical, financial and business prospects of the Company, its
projects, its goals and other matters. All statements in this news release, other than statements of
historical facts, that address events or developments that the Company expects to occur, are
forward-looking statements. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ materially from those in the
forward-looking statements. Such statements are based on numerous assumptions regarding
present and future business strategies and the environment in which the Company will operate in
the future, including the price of metals and the price of oil and gas, the ability to achieve its
goals, that general business and economic conditions will not change in a material adverse
manner and that financing will be available if and when needed and on reasonable terms. Such
forward-looking information reflects the Company’s views with respect to future events and is
subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to
the interpretation of exploration results, risks related to the inherent uncertainty of exploration
and cost estimates and the potential for unexpected costs and expenses and those other risks filed
under the Company’s profile on SEDAR+ at www.sedarplus.ca. While such estimates and
assumptions are considered reasonable by the management of the Company, they are inherently
subject to significant business, economic, competitive and regulatory uncertainties and risks.
Factors that could cause actual results to differ materially from those in forward looking
statements include, but are not limited to, continued availability of capital and financing and
general economic, market or business conditions, failure to secure personnel and equipment for
work programs, adverse weather and climate conditions, risks relating to unanticipated
operational difficulties (including failure of equipment or processes to operate in accordance
with specifications or expectations, cost escalation, unavailability of materials and equipment,
government action or delays in the receipt of government approvals, industrial disturbances or
other job action, and unanticipated events related to health, safety and environmental matters),
risks relating to inaccurate geological assumptions, failure to maintain or obtain all necessary
government permits, approvals and authorizations, failure to obtain or maintain surface access
agreements or understandings from local communities, land owners or Indigenous groups,
fluctuation in exchange rates, the impact of viruses and diseases on the Company’s ability to
operate, capital market conditions, restriction on labour and international travel and supply
chains, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and
gas, loss of key employees, consultants, or directors, failure to maintain or obtain community
acceptance (including from the Indigenous communities), increase in costs, litigation, and failure
of counterparties to perform their contractual obligations. The Company does not undertake to
update forward‐looking statements or forward‐looking information, except as required by law.
Contacts
Contact Information:
Michelle DeCecco, Chief Executive Officer and Director
Email: [email protected]
Or
Maximilian Sali, VP Corporate Development and Director
Email: [email protected]
Phone: 1-604-367-8117