New Zealand Energy Corp. Announces Tariki Gas Sale

The Tariki Joint Venture has agreed to sell to the Offtaker 2 petajoules of gas, approximately 1.8bcf to be produced from the Tariki-5 well; The Tariki Joint Venture has agreed that, for a period of 12 months after Tariki-5 well has been drilled and evaluated, to work exclusively with the Offtaker to negotiate the terms and conditions for the storage of gas in the Tariki field; In consideration for granting the exclusive right described above, the Offtaker has agreed to pay NZ$2,000,000 to the Tariki Joint ...