Monumental Energy Reports Initial Flush Production of 3000 Barrels and a Stable Unstimulated Flow Rate of 300 Barrels a Day at Ngaere-2
Monumental Energy Corp. ("Monumental" or the "Company") (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce a better-than-anticipated, stable, unstimulated flow rate of 300 barrels a day from the Ngaere-2 well located within a 4km radius of all the other online production wells and near the Waihapa production facility. Currently the company has four wells online: Copper Moki-1, Ngaere 1 and 2 and Waihapa H1. Six additional wells are in the pipeline and permitted. Monumental Energy along with NZEC as operator and its co-venturer L and M have estimated that 1000 boe/d is possible. Constrained production is choked back to maintain stable flow and additional ways to increase daily production and capacity are underway immediately.
Maximilian Sali, Chief Executive Officer comments: "The success of the last three wells has exceeded our expectations, and with a stronger than forecast oil price, this has created the perfect storm to grow the company and be able to continue additional workovers. Another six activities are currently in the pipeline along with new applications to drill fresh oil and gas wells."
Monumental and New Zealand Energy Corp. ("NZEC") entered into a funding agreement (see news releases dated January 12, 2026, March 5, 2026, and March 10, 2026), enabling Monumental to participate in mutually agreed appraisal and development workover projects aimed at increasing production across Petroleum Mining Licences PML 38140 and PML 38141 (the "Licences"). The Waihapa H1 well is the latest successful project executed under this agreement. NZEC holds a 50% interest in the Licences, which are located in the onshore Taranaki Basin, New Zealand.
ABOUT MONUMENTAL ENERGY CORP.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sectors. The Company is building a strategic position in New Zealand's onshore Taranaki Basin, targeting near-term oil production and longer-term natural gas development.
The Company has a funding agreement with New Zealand Energy Corp targeting production optimization and workover opportunities across existing fields. The Company also holds securities of NZEC and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2% net smelter return royalty on Summit Nanotech's interest in the Salar de Turi lithium project in Chile.
On behalf of the Board of Directors,
/s/ "Max Sali"
Max Sali, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release contains "forward?looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, the potential plans for the Company's projects, potential future oil and gas targets and projects, the expected outcomes from various oil and gas workover wells, evaluating and pursuing other potential workovers and oil and gas projects, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company's ability to operate, capital market conditions, restriction on labour and international travel and supply chains, the ability to manage working capital, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260330159531/en/
Contact
Max Sali, Chief Executive Officer, Director and Founder
Email: max@monumental.energy
Phone: 1-604-367-8117
