Monumental Energy Provides Update on Copper Moki Wells and Investment in New Zealand Energy Corp.
Monumental Energy Provides Update on Copper Moki Wells and Investment
in New Zealand Energy Corp.
VANCOUVER, British Columbia--(BUSINESS WIRE)--August 19, 2025--Monumental Energy
Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is
pleased to provide an operational update on the producing Copper Moki oil and gas wells and to
report on its investment in New Zealand Energy Corp. (TSXV: NZ) (“NZEC”), with assets
located in the Taranaki Basin, New Zealand.
Copper Moki Production Update
The Copper Moki-1 well was successfully recompleted in late July 2025, with production
commencing shortly thereafter. Both Copper Moki-1 and Copper Moki-2 have been onstream for
almost a month delivering a combined production rate of approximately 125 barrels of oil per
day (“bopd”). These rates continue to trend upward as pump speeds are gradually increased to
optimize flow while preventing sand from entering the borehole.
In addition to oil production, both wells are now exporting associated gas to the neighbouring
Waihapa Production Station for processing and sale. Oil is stored on site and trucked to port
every two days, with the next shipment scheduled for September 20, 2025.
Monumental entered into its agreement with NZEC in late 2024 (see the Company’s news
release dated December 23, 2024), following NZEC’s strategic shift toward a gas-storage-
focused business model. Under the terms of the agreement, Monumental will receive a 75%
royalty on production until recovery of its initial capital investment, after which the royalty will
adjust to 25% for the life of the wells. Cumulative production data (BBL and BOE) will be
disclosed in the coming weeks.
The Company is actively advancing evaluations on potential additional oil and gas projects in the
area.
Maximilian Sali quotes “The production at Copper Moki continues to increase slowly as the
pumps are turned up methodically. The pumps will continue to be turned up to its set daily
production rate of 175 but will be tested higher to see what the wells can produce at capacity.”
NZEC: ASSET AND CORPORATE DEVELOPMENTS
As reported by NZEC on June 30 and July 25, 20251
Tariki Gas Storage Project & Tariki-5A Well
The Tariki Gas Storage Project continues to advance, with structural remapping using a Prestack
Depth Migrated (PSDM) dataset underway to support sub-surface modelling. In addition, the
company has completed dynamic reservoir and well-performance modelling for the area
surrounding the Tariki-5A well to assess the potential for restoring production. The modelling
indicates that a gas-lift period of up to three weeks is likely sufficient to re-establish gas
production from the up-dip gas volumes. As a result, the NZEC plans to initiate well and facility
engineering activities in Q3 2025 to restart gas flow.
As previously reported, sub-surface dynamic modelling to confirm the range of gas storage
capacities, associated cushion gas requirements, operating pressures and rates, and long-term
storage behaviour remains on track for delivery in August 2025. Gas storage facility
development concept studies are also in progress and scheduled for completion in August 2025.
Recently Completed Financing
NZEC completed a C$2.72 million private placement at $0.18 per share, eliminated its C$2
million debt to Vliet Financing B.V., and strengthened its working capital position. The company
now has sufficient resources, along with ongoing oil and gas production, to advance the gas-
storage project through to completion and a planned sale to a local gas provider.
Waihapa-Ngaere Production (50% JV Interest)
Production from Waihapa-Ngaere recommenced in late March 2025, with the wells operating on
periodic well unloads without the use of gas-lift.
Following the successful recommissioning of the Ngaere-1 pipeline in July, production from that
well resumed in mid-July 2025, achieving flush rates of more than 400 bbls of oil in a single day.
As a result, current field production rates are temporarily constrained by onsite tank capacity for
stabilization and the rate at which oil can be trucked to port. Over the past week, trucking has
averaged approximately 180 bbls per day (NZEC share: 90 bbls per day). In addition, an average
of ~15 bbls per day has been transported to port via the oil pipeline. Ngaere-1 continues to
produce at rates equivalent to over 400 bbls per day when opened to refill onsite tanks.
The focus for Waihapa-Ngaere over the next month is to address system bottlenecks, enabling
continuous higher-rate production and transport to port via the oil pipeline.
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.
1 See www.sedarplus.ca to access NZEC’s news releases.
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