New Zealand Energy Corp Announces 2021 Quarter 4 Results & More News Here

Wellington, New Zealand–(Newsfile Corp. – April 21, 2022) – New Zealand Energy Corp. (TSXV: NZ) (“NZEC” or the “Company”) introduced right this moment it has filed with Canadian regulatory authorities its This autumn 2021 consolidated monetary outcomes and an accompanying administration dialogue and evaluation report, which paperwork can be found on the Company’s web site at www.newzealandenergy.com and on SEDAR at www.sedar.com.

Commenting on the Company’s 2021 finish of yr outcomes, Chairman James Willis mentioned “The results saw a loss of $993,008 (compared to the 2020 loss of $1,092,350) which included significant non-cash expenses including depreciation and depletion. Overall, there was a $621,793 decrease in cash at year end and $463,272 was held as at 31 December 2021. Cash used by operating activities was $198,130, compared to 2020 when ($493,098) of cash was used by operations.

The Company achieved average net daily production of 99 boe/d (88% oil) through 2021 compared to 128 boe/d (99% oil) during 2020.

With respect to business development, Mr Willis commented: “NZEC has accomplished preliminary evaluation and interpretation of the info from the seismic acquired at Tariki throughout 2021 which suggests the overthrust Tariki construction is a wonderful candidate for a fuel storage venture. The potential for extra hydrocarbons in different reservoirs inside Tariki can be being evaluated.

Regarding Waihapa/Ngaere, the set up of appropriately sized fuel compression is permitting for fuel elevate to be launched to a number of wells which is predicted to lead to some will increase in general manufacturing. The current enhance within the oil value can be of some profit.

On behalf of the Board of Directors

“James Willis”

Chairman

New Zealand Energy Corp.

New Zealand Energy Contacts

Email: [email protected]
Website: www.newzealandenergy.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such time period is outlined within the insurance policies of the TSX Venture Exchange) accepts accountability for the adequacy or accuracy of this launch.

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FORWARD-LOOKING INFORMATION AND CAUTIONARY NOTE REGARDING RESERVE ESTIMATES

This doc, the consolidated monetary statements for the yr ended 31 December 2021 and the Management’s Discussion and Analysis comprise sure forward-looking data, forward-looking statements (“forward-looking statements”). The reader’s consideration is particularly drawn to the {qualifications}, disclosure and cautionary statements in these paperwork concerning forward-looking statements and reserve and useful resource estimates.

The Company notes that such forward-looking statements are topic to quite a few dangers and uncertainties, a few of that are past NZEC’s management, the impression of basic financial situations, trade situations, volatility of commodity costs, foreign money fluctuations, imprecision of reserve estimates, environmental dangers, operational dangers in exploration and growth, competitors from different trade members, the shortage of availability of certified personnel or administration, inventory market volatility and the power to entry ample capital from inside and exterior sources. Although the Company believes that the expectations in its forward-looking statements are affordable, they’re based mostly on components and assumptions regarding future occasions which can show to be inaccurate. Those components and assumptions are based mostly upon at present out there data. Such statements are topic to identified and unknown dangers, uncertainties and different components that might affect precise outcomes or occasions and trigger precise outcomes or occasions to vary materially from these acknowledged, anticipated or implied within the forward-looking data.

As such, readers are cautioned to not place undue reliance on the forward-looking data, as no assurance will be supplied as to future outcomes, ranges of exercise or achievements. All forward-looking statements are made as of the date of this doc or the date of the paperwork referenced above, besides as required by relevant regulation, the Company doesn’t undertake any obligation to publicly replace or to revise any of the forward-looking statements, whether or not on account of new data, future occasions or in any other case.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/release/121275

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