Monumental Energy Announces Completion of Workover and Resumption of Commercial Production at the Copper Moki-2 Oil and Gas Well in New Zealand
Monumental Energy Announces Completion of Workover and Resumption of
Commercial Production at the Copper Moki-2 Oil and Gas Well in New
Zealand
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 23, 2025--Monumental Energy
Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is
pleased to announce the successful workover and resumption of commercial production at the
Copper Moki-2 (CM-2) well, located in the Taranaki Basin, New Zealand.
The primary objective of the CM-2 workover was to restore oil and associated gas production
from the Mt. Messenger sands and to address flow restrictions identified during prior operations.
Additionally, the program included perforating and testing previously untapped hydrocarbon
zones.
At CM-2, three new intervals have been perforated, which are expected to contribute to
significant flush production rates and increase overall output. Early indications confirm the new
pump is functioning as expected, with approximately 300 barrels of brine—previously used to
maintain pressure—successfully pumped out of the well.
The Copper Moki-1 (CM-1) workover is expected to take approximately 10 days. If successful,
the well will be placed on continuous production alongside CM-2. Monumental Energy and
NZEC anticipate significant flush production rates from both wells.
At the time of the original drill program at Copper Moki, New Zealand faced a gas surplus, and
the field remained isolated from the gas network. Today, the field has been fully integrated into
the gas infrastructure, presenting a meaningful revenue opportunity that was previously
unavailable.
CM-1 and CM-2 were originally shut-in due to mechanical issues over time, rather than any
reservoir-related concerns. The wells required only standard maintenance, and equipment
upgrades to resume production. In late 2024, Monumental Energy entered into an agreement
with NZEC to bring the wells back online, as NZEC shifted its focus to a gas storage business
model. Under the terms of the agreement, Monumental Energy will receive a 25% royalty on all
oil and gas production from the Copper Moki site, following full recovery of its 75% initial
capital contribution.
Oil produced in the Taranaki Basin typically receives a modest discount to Brent Crude (USD
$77.39 as of June 20), while natural gas sells at a premium, with current prices ranging between
USD $11.00 and $15.00 per MCF—significantly higher than North American market levels.
Cumulative production data, measured in barrels of oil equivalent (BOE), will be released in the
coming weeks.
Max Sali, Vice President of Corporate Development and Director, commented: “The
Copper Moki wells have demonstrated exceptional reservoir performance, with cumulative
production approaching one million barrels of oil to date. The successful recompletion of CM-
2—including the perforation of three new intervals—is expected to significantly enhance output.
We anticipate strong flush volumes and reservoir recharge, further validating the productivity of
the Mt. Messenger formation. This positions us for meaningful near-term cash flow while
supporting the long-term value proposition for our shareholders.”
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