Monumental Energy Announces Commencement of Copper Moki Workovers in New Zealand
Monumental Energy Announces Commencement of Copper Moki Workovers
in New Zealand
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 20, 2025--Monumental Energy
Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is
pleased to announce that workover operations have commenced at the Copper Moki-1 and
Copper Moki-2 wells, located in the Taranaki Basin, New Zealand.
The workover program being carried out in conjunction with the Company’s partner, New
Zealand Energy Corp., involves re-entering both wells to perform downhole cleanouts, replace
tubing and rods, and perforate the Mt. Messenger formation. The objective is to restore
production from the Mt. Messenger sands and resolve known flow restrictions identified in
previous operations.
Additionally, the wells have never undergone a full tubing replacement or sand cleanout,
providing Monumental with the opportunity to perforate an unproduced zone. Having remained
idle for 18 months, the wells also present potential for a significant flush production increase,
further enhanced by the planned perforation of an additional 5-metre interval in the Mt.
Messenger formation.
Copper Moki-1 Workover Highlights:
The well, drilled to a depth of 2,220-metres with 7” casing set at 2,214-metres, will be re-
entered to retrieve approximately 600-metres of parted sucker rods and remove wax and
sand buildup.
A 5-metre interval of the Mt. Messenger formation, located at approximately 1,587
metres, will be perforated to access untapped hydrocarbon zones.
New tubing, a tubing anchor, and a complete pump string will be installed to optimize
production efficiency.
The well will be fully equipped with a pump and rod system, after which flow testing will
be conducted in preparation for a return to production.
Copper Moki-2 Workover Highlights:
The 2,084-metre well will undergo similar operations to Copper Moki-1, including a full
tubing replacement and comprehensive well cleanout.
A new pump and rod system will be installed to enable production from the newly
perforated zone.
As with Copper Moki-1, well pressure is several hundred psi below hydrostatic,
suggesting favourable conditions for drawdown and early production.
Max Sali, Vice President of Corporate Development and Director, commented: "These
workovers represent a meaningful step toward monetizing the Taranaki Basin assets. With
infrastructure in place, we are well-positioned to restore production and potentially generate
early cash flow to support Monumental’s broader strategic objectives. We are also pleased to
have a newly upgraded rig on site, which is now fully operational and will enable the expedited
execution of future projects.”
Field operations are expected to be completed in the coming weeks, with initial production
results anticipated shortly thereafter. To date, the program remains under budget; Monumental
does not anticipate any further expenditures until the workover is complete and flush production
begins. Total spending to date is approximately NZD $560,000 (CAD $460,000).
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, completing the Copper Moki 1
& 2 workovers and the expected results, the expected timeline to complete the workovers of
Copper Moki 1 & 2 wells, and commencement of production of CM 1 & 2, 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
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