Monumental Energy Initiates Workover Operations at Copper Moki Wells

Monumental Gold ( (TSE:MNRG) ) has shared an announcement.

Monumental Energy Corp. has commenced workover operations at the Copper Moki-1 and Copper Moki-2 wells in New Zealand’s Taranaki Basin, in collaboration with New Zealand Energy Corp. The workover aims to restore production by addressing flow restrictions and perforating new zones in the Mt. Messenger formation, potentially increasing production significantly. The operations are expected to be completed soon, with initial production results anticipated shortly thereafter. The project remains under budget, with total spending to date at approximately NZD $560,000 (CAD $460,000), and no further expenditures anticipated until flush production begins. This initiative is seen as a strategic move to monetize the Taranaki Basin assets and generate early cash flow to support Monumental’s broader objectives.

More about Monumental Gold

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 has a call option and royalty agreement on the Copper Moki wells. Additionally, it has an option to acquire a 75% interest in the Laguna cesium-lithium brine project in Chile and holds a 2% net smelter return royalty on Summit Nanotech’s future lithium production from the Salar de Turi Project.

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