Vancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announces that it has granted stock options (the "Options") to certain directors, officers, and employees of the Company to purchase up to an aggregate of 3,250,000 common shares in the capital of the Company (the "Common Shares").The Options are exercisable at a price of C$0.45 per Common Share for a period of five (5) years from the date of grant. The Options vest immediately ...

Core Viewpoint - New Zealand Energy Corp. has successfully closed a funding agreement with Monumental Energy Corp. to enhance oil and gas production from its licenses in Taranaki, New Zealand [1][2]. Group 1: Funding Agreement Details - The funding agreement, effective January 12, 2026, involves Monumental Energy funding NZEC's share of specific workover projects [1][2]. - In return, NZEC has granted Monumental a project-specific royalty, where Monumental will initially receive 75% of net receipts until its costs are recovered, followed by a 25% ongoing royalty [2]. Group 2: Company Overview - New Zealand Energy Corp. is a publicly listed energy company focused on oil, gas, and gas-storage development in New Zealand, holding interests in various heritage assets and development-stage projects [3]. - The company has a 50% ownership stake in the Waihapa production station, allowing for quick integration of near-term production to market [3].

Financial Data and Key Metrics Changes - Enbridge reported a record third quarter adjusted EBITDA, driven by contributions from U.S. gas utilities and organic growth in gas transmission [6][24] - The debt to EBITDA ratio for the quarter was 4.8 times, remaining within the target leverage range of 4.5 to 5 times [6][27] - Compared to Q3 2024, adjusted EBITDA increased by $66 million, while EPS decreased from $0.55 to $0.46 per share due to seasonal lower EBITDA in Q3 [24][25] Business Line Data and Key Metrics Changes - Liquids segment achieved record mainline volumes of 3.1 million barrels per day, reflecting strong demand for Canadian crude [10][11] - Gas transmission experienced strong performance with favorable contracting outcomes and contributions from new projects [24] - Gas distribution segment benefited from a full quarter contribution from Enbridge Gas North Carolina and quick-turn capital projects in Ohio [24] Market Data and Key Metrics Changes - The U.S. Northeast is experiencing increased demand for natural gas, with expansions in the Algonquin pipeline to address supply shortages [15][17] - The North American storage market is tightening, with Enbridge positioned to add over 60 BCF of new natural gas storage capacity [17][18] Company Strategy and Development Direction - Enbridge's strategy focuses on executing a diverse range of growth projects across all business segments, with a commitment to maintaining a low-risk business model [10][28] - The company anticipates achieving 5% growth through the end of the decade, supported by $35 billion in secured capital [28][29] - Enbridge is advancing projects that align with energy demand growth driven by LNG development, power generation, and data centers [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model's resilience and the ability to deliver strong results through various economic cycles [25][28] - The company noted improving policy support for energy infrastructure investments, which is expected to enhance growth opportunities [28][55] Other Important Information - Enbridge has sanctioned $3 billion in new growth capital projects during the quarter, showcasing continued execution on growth commitments [7][27] - The company has maintained a consistent dividend growth for 30 consecutive years, reflecting the stability of its business fundamentals [27] Q&A Session Summary Question: Acceleration in gas distribution and storage - Management noted an acceleration in commercial activity driven by demand from data centers and power generation, particularly in Ohio and Utah [30][31] Question: Line 5 construction and permitting - Management indicated that permitting for the Wisconsin Reboot and Michigan tunnel is regaining momentum, with expectations to complete the Wisconsin Reboot by 2027 [34] Question: Mainline optimization phase two - Management confirmed that the optimization is not an acceleration but a continuation of efforts to meet customer demand, with significant supply growth expected from Canadian producers [37][39] Question: Growth outlook and capital sequencing - Management expressed confidence in maintaining capital spending between $9 billion and $10 billion, with a strong project pipeline supporting growth [42][44] Question: LNG Canada and gas storage opportunities - Management highlighted strong customer interest in gas storage expansions, with significant contracts already signed for new capacity [49] Question: Managing cost risk in hot markets - Management emphasized prudent capital management and strong contractor relationships to mitigate cost risks in competitive areas [51][52]