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New Zealand Energy ( (TSE:NZ) ) just unveiled an announcement.
New Zealand Energy Corp. has signed a definitive funding agreement with Monumental Energy Corp. under which Monumental will finance mutually agreed workover projects on NZEC’s 50% interests in the Waihapa-Ngaere licenses in onshore Taranaki to boost oil and gas output. In return, NZEC will pay Monumental a royalty starting at 75% of net receipts until Monumental’s costs are recovered, then 25% thereafter, with the first project, Ngaere 1, expected to start in Q1 2026 subject to regulatory approvals and operational readiness, a structure that allows NZEC to accelerate production growth without upfront capital while giving Monumental a long-term revenue stream and highlighting the strategic importance of the Waihapa-Ngaere assets to both parties.
More about New Zealand Energy
New Zealand Energy Corp. is a publicly listed energy company focused on the development of oil, natural gas and gas-storage opportunities in New Zealand. It holds interests in multiple heritage assets and development-stage projects, including the Tariki Gas Storage Project in Taranaki, and owns 50% of the Waihapa production station, allowing rapid tie-in of near-term production and direct sales to market.
Average Trading Volume: 44,497
Technical Sentiment Signal: Sell
Current Market Cap: C$9.4M
Learn more about NZ stock on TipRanks’ Stock Analysis page.