Monumental Energy Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to provide an update on its investment into New Zealand Energy Corp. (“NZEC”) (TSXV.NZ).
NZEC announced Tariki-5A preliminary results on December 2, 2024.
NZEC reported that the Tariki-5A well intersected the target Tarikisands on November 29, 2024. The sands are interpreted by management of NZEC to be gas bearing from shows, cutting samples and from preliminary evaluation of the wireline logging carried out over the weekend.
Tariki-5A is currently being completed with 3.5” production tubing. Perforating and production testing are expected to be carried out the week commencing December 16, 2024.
With respect to the well results, CEO of NZEC, Mr. Adams commented: “The Tariki-5A gas development well has confirmed there is significant additional producible gas remaining in the Tarikisands higher in structure than was previously accessed. The Gas-Water-Contact appears to be deeper than expected from the offset well Tariki-1A, and this has a positive impact on the gas volume remaining in place. While these results are preliminary, the deeper Gas-Water-Contact means they are better than prognosed. Work to progress use of the Tariki Field as a gas storage facility will also commence immediately.”
For further information, see the full news release disseminated by NZEC.
Maximilian Sali, VP Corporate Development comments: “This is excellent news from New Zealand Energy Corp. Despite an initial challenge, they successfully resolved the issue and delivered a highly promising technical update today. We are excited to see flow rates in the near future and look forward to the next phase of results from the Tariki-5A gas development well.”
The Company’s previously announced (October 25, 2024) call option and royalty agreement with NZEC regarding the Copper Moki oil and gas wells is subject to TSX Venture Exchange (the “Exchange”)approval. Trading in the common shares of the Company has been halted in accordance with the policies of the Exchange and will remain halted until such time as all required documentation has been filed with and accepted by the Exchange and permission to resume trading has been obtained from the Exchange.
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. The Company 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. The Company owns securities of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ “Michelle DeCecco”
Michelle DeCecco, CEO
Contact Information:
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
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, the expected next phase of results from NZEC on the Tariki-5A gas development well, obtaining TSX Venture Exchange approval for the Copper Moki 1 & 2 transaction, 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.
