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New Zealand Energy Corp. Files Second Quarter Financial Statements and Provides Operational Update
- NZ.V
- CL=F
- NZERF
Vancouver, British Columbia–(Newsfile Corp. – September 1, 2026) – New Zealand Energy Corp. (TSXV: NZ) (“NZEC” or the “Company“) is pleased to report the filing of its financial results for the six-month period ending June 30, 2026. A copy of the Company’s financial statements, and management discussion and analysis for the period ending June 30, 2026, are available on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.newzealandenergy.com).
For the three months ending June 30, 2026, NZEC reported net income of $708,775, compared to a net loss of $1,635,593 in the corresponding period of 2025, on revenue of $2,160,454 (Q2 2025: $225,659). The Company ended the quarter with positive working capital of $1,446,232 and cash and cash equivalents of $2,055,176, following completion of a $3,500,000 private placement during the period.
Oil production for the quarter increased to 10,950 barrels (NZEC share), compared to 1,685 barrels in the corresponding period of 2025, reflecting higher production from the Waihapa-Ngaere fields and continued production from Copper Moki. Oil sales revenue rose to $1,802,492 on sales of 13,001 barrels, at an average realized price of $138.65 per barrel, compared to $119,678 on sales of 1,342 barrels at $89.25 per barrel in Q2 2025. During the quarter, the Company also successfully restarted and flow-tested the Tariki-5A and Tariki-1A wells using new well kick-off technology, producing approximately 120 MMSCF of gas and 1,600 barrels of condensate over 64 days of flow. Subsequent to quarter end, the Copper Moki-1 well was returned to production on July 4, 2026, at approximately 45 barrels of oil per day (gross).
NZEC continues to advance the Tariki gas storage business. Significant progress has been made with respect to commercialization, overall design parameters, and advancing geological interpretation. The 3D reprocessing and mapping of the reservoir will help further refine the gas-in-place numbers. The long-term production test at Tariki-1A and the very low pressure drop observed in the reservoir give the Company strong indications that more cushion gas may be present than previously thought.
NZEC plans to restart Tariki gas production in September 2026. The Company will undertake a workover to enhance the production capability of the Tariki-1A well, with gas and condensate production expected to exceed the approximately 3 mmcf/d (gross) the well averaged in May and June 2026. NZEC will also begin further flow testing of the Tariki-5A well with sand catcher equipment to better understand the well’s potential long-term flow rates.
