New Zealand Energy Plans Completion of Sixth Well in Taranaki

New Zealand Energy Plans Completion of Sixth Well in Taranaki Basin 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/30/12 -- New
Zealand Energy Corp. (TSX VENTURE:NZ)(OTCQX:NZERF) ("NZEC" or the
"Company") has achieved target depth in its Waitapu-2 well, evaluated
open hole logs and commenced casing the well, with completion to
follow. Once casing is complete, the Ensign rig will move to the
Arakamu site to drill two wells. The first well will target the Mt.
Messenger Formation and the second will target the Moki Formation. 
Waitapu-2 was drilled into the Mt. Messenger Formation with a
measured depth of 2,081 metres and true vertical depth of 1,970
metres. NZEC will perforate and test the well in early November, once
the service rig has completed installation of artificial lift on the
Copper Moki-1 well.  
Waitapu-1 has been perforated across two additional intervals in the
Mt. Messenger Formation and will remain shut-in for pressure build-up
while the Ensign rig moves off Waitapu to the Arakamu site.  
On behalf of the Board of Directors 
Bruce McIntyre, Executive Director  
About New Zealand Energy Corp. 
NZEC is an oil and natural gas company engaged in the production,
development and exploration of petroleum and natural gas assets in
New Zealand. NZEC's property portfolio collectively covers two
million acres of conventional and unconventional prospects in the
Taranaki Basin and East Coast Basin of New Zealand's North Island.
The Company's management team has extensive experience exploring and
developing oil and natural gas fields in New Zealand and Canada, and
takes a multi-disciplinary approach to value creation with a track
record of successful discoveries. NZEC plans to add shareholder value
by executing a technically disciplined exploration and development
program focused on the onshore and offshore oil and natural gas
resources in the politically and fiscally stable country of New
Zealand. NZEC is listed on the TSX Venture Exchange under the symbol
NZ and on the OTCQX International under the symbol NZERF. More
information is available at or by emailing 
Forward-looking Statements 
This news release contains certain forward-looking information and
forward-looking statements within the
 meaning of applicable
securities legislation (collectively "forward-looking statements").
The use of the word "will" and similar statements are intended to
identify forward-looking statements. Forward-looking statements
involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those
anticipated in such forward-looking statements, including without
limitation, the speculative nature of exploration, appraisal and
development of oil and natural gas properties; the ability to achieve
commercial production from oil and natural gas prospects;
uncertainties associated with estimating oil and natural gas
resources; uncertainties in both daily and long-term production rates
and resulting cash flow; volatility in market prices for oil and
natural gas; changes in the cost of operations, including costs of
extracting and delivering oil and natural gas to market, that affect
potential profitability of oil and natural gas exploration; the need
to obtain various approvals before exploring and producing oil and
natural gas resources; uncertainty in the timing of receipt of
permits and the Company's ability to extend the permits if required;
exploration hazards and risks inherent in oil and natural gas
exploration; operating hazards and risks inherent in oil and natural
gas operations; market conditions that prevent the Company from
raising the funds necessary for exploration and development on
acceptable terms or at all; global financial market events that cause
significant volatility in commodity prices; unexpected costs or
liabilities for environmental matters; competition for, among other
things, capital, acquisitions of resources, skilled personnel, and
access to equipment and services required for exploration,
development and production; changes in exchange rates, laws of New
Zealand or laws of Canada affecting foreign trade, taxation and
investment; failure to realize the anticipated benefits of
acquisitions; and other factors as disclosed in documents released by
NZEC as part of its continuous disclosure obligations. NZEC believes
the expectations reflected in those forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct. Such forward-looking statements included in
this news release should not be unduly relied upon. These statements
speak only as of the date of this news release and NZEC does not
undertake to update any forward-looking statements that are contained
in this news release, except in accordance with applicable securities
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as such term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
New Zealand Energy Corp.
Bruce McIntyre
Executive Director
North American toll-free: 1-855-630-8997 
New Zealand Energy Corp.
John Proust
Chief Executive Officer & Director
North American toll-free: 1-855-630-8997 
New Zealand Energy Corp.
Rhylin Bailie
Vice President Communications & Investor Relations
North American toll-free: 1-855-630-8997
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