New Zealand Energy Drills Seventh Well on Eltham Permit

New Zealand Energy Drills Seventh Well on Eltham Permit 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- New
Zealand Energy Corp. ("NZEC" or the "Company") (TSX
VENTURE:NZ)(OTCQX:NZERF) today announced that the Company is drilling
its seventh well on its 100%-owned Eltham Permit in the Taranaki
Basin. 
On November 10, NZEC commenced drilling the Arakamu-2 well, targeting
the Mt. Messenger Formation at an approximate depth of 2,300 metres.
Drilling is proceeding well and is currently at about 1,500 metres.
NZEC expects to spud Arakamu-1A in December, targeting the Moki
Formation at approximately 2,700 metres. NZEC plans to drill
Arakamu-1A using the surface casing of the existing Arakamu-1 well,
drilled by a previous permit holder in 2006.  
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
approximately 2.25 million acres (including pending permits) 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 www.newzealandenergy.com or by emailing
info@newzealandenergy.com. 
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 any of the words "targeting", "expects", "plans" and
similar expressions are intended to identify forward-looking
statements. These 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; 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; the need to
obtain government approval of work programs before exploring or
developing properties; 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. Information
concerning reserves may also be deemed to be forward looking as
estimates imply that the reserves described can be profitably
produced in the future. 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 laws.  
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. 
Contacts:
New Zealand Energy Corp.
John Proust
Chief Executive Officer and Director
North American toll-free: 1-855-601-2010 
New Zealand Energy Corp.
Bruce McIntyre
Executive Director
North American toll-free: 1-855-601-2010 
New Zealand Energy Corp.
Rhylin Bailie
Vice President Communications & Investor Relations
North American toll-free: 1-855-601-2010
info@newzealandenergy.com
www.newzealandenergy.com