New Zealand Energy Corp. Provides an Update on Copper Moki Production, Its Recent Waihapa Ngaere Production Increase, and Announces 2025 Q2 Results

Core Viewpoint - New Zealand Energy Corp. reported a total comprehensive loss of $2,567,631 for Q2 2025, an increase from the previous year's loss of $2,100,963, while also providing updates on production activities at Copper Moki and Waihapa Ngaere [2][4]. Financial Performance - The company experienced a cash decrease of $978,151, ending the quarter with $61,250 in cash [2]. - Cash used in operating activities for the quarter was $676,152, a significant reduction from $1,541,045 in Q2 2024 [2]. Copper Moki Production - Copper Moki-1 was successfully recompleted, with production starting in late July 2025, achieving aggregate production rates of approximately 105 BOE/d (about 90 bopd) [3]. - The production rates are expected to improve as the wells continue to produce completion fluids and pump speeds are gradually increased [3]. Waihapa Ngaere Production - Oil and gas production from Waihapa-Ngaere resumed in late March 2025, initially operating four wells on periodic unloads without gas-lift [5]. - Following the recommissioning of the Ngaere-1 pipeline in July, production from that well restarted mid-July 2025, with flush rates exceeding 400 bbls of oil in one day [6]. - Trucking averaged approximately 190 bbls per day over the last two weeks, with NZEC's share being around 95 bbls per day [6]. Future Plans - The company aims to eliminate system bottlenecks at Waihapa Ngaere to enable continuous oil production and transportation to the port via pipeline [7]. - The positive results from Ngaere-1 have led to prioritizing work on the Waihapa-H1 well for the next quarter [8]. Capital Activities - NZEC completed a non-brokered private placement of $2,718,640 on July 18, 2025, and successfully terminated a loan of $2,000,000 plus accrued interest [8].