Monumental Energy Reports Initial Flush Production of 3000 Barrels and a Stable Unstimulated Flow Rate of 300 Barrels a Day at Ngaere-2
Monumental Energy Reports Initial Flush Production of 3000 Barrels and a
Stable Unstimulated Flow Rate of 300 Barrels a Day at Ngaere-2
VANCOUVER, British Columbia--(BUSINESS WIRE)--March 30, 2026--Monumental Energy
Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is
pleased to announce a better-than-anticipated, stable, unstimulated flow rate of 300 barrels a day
from the Ngaere-2 well located within a 4km radius of all the other online production wells and
near the Waihapa production facility. Currently the company has four wells online: Copper
Moki-1, Ngaere 1 and 2 and Waihapa H1. Six additional wells are in the pipeline and permitted.
Monumental Energy along with NZEC as operator and its co-venturer L and M have estimated
that 1000 boe/d is possible. Constrained production is choked back to maintain stable flow and
additional ways to increase daily production and capacity are underway immediately.
Maximilian Sali, Chief Executive Officer comments: “The success of the last three wells has
exceeded our expectations, and with a stronger than forecast oil price, this has created the perfect
storm to grow the company and be able to continue additional workovers. Another six activities
are currently in the pipeline along with new applications to drill fresh oil and gas wells.”
Monumental and New Zealand Energy Corp. (“NZEC”) entered into a funding agreement (see
news releases dated January 12, 2026, March 5, 2026, and March 10, 2026), enabling
Monumental to participate in mutually agreed appraisal and development workover projects
aimed at increasing production across Petroleum Mining Licences PML 38140 and PML 38141
(the “Licences”). The Waihapa H1 well is the latest successful project executed under this
agreement. NZEC holds a 50% interest in the Licences, which are located in the onshore
Taranaki Basin, New Zealand.
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 sectors. The Company is building
a strategic position in New Zealand’s onshore Taranaki Basin, targeting near-term oil production
and longer-term natural gas development.
The Company has a funding agreement with New Zealand Energy Corp targeting production
optimization and workover opportunities across existing fields. The Company also holds
securities of NZEC and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2% net
smelter return royalty on Summit Nanotech’s interest in the Salar de Turi lithium project in
Chile.
On behalf of the Board of Directors,
/s/ “Max Sali”
Max Sali, Chief Executive Officer
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 potential plans for the
Company’s projects, potential future oil and gas targets and projects, the expected outcomes
from various oil and gas workover wells, evaluating and pursuing other potential workovers and
oil and gas projects, 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, the ability to manage working capital, 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
Max Sali, Chief Executive Officer, Director and Founder
Email: [email protected]
Phone: 1-604-367-8117