New Zealand Energy Operational Update

New Zealand Energy Operational Update 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/13 -- New
Zealand Energy Corp. ("NZEC" or the "Company") (TSX
VENTURE:NZ)(OTCQX:NZERF) today provided an update on the Company's
exploration and production activities in the Taranaki Basin of New
Zealand's North Island.  
Waitapu-2 commenced continuous production at the end of December 2012
and produced at an average rate of 151 barrels of oil per day over
the first two weeks of January. The three Copper Moki wells (CM-1,
CM-2 and CM-3) have collectively produced at an average rate of 273
barrels of oil per day over the first two weeks of January. All four
wells are producing light (approx. 40 degrees API), high-quality oil
from the Mt. Messenger formation. Oil is trucked approximately 45km
to the Shell-operated Omata Tank Farm in New Plymouth and sold at
Brent pricing, generating a top-tier netback.  
Completion operations are underway at two wells on the Arakamu site.
Arakamu-1A reached target depth in the Moki formation at a vertical
depth of 2,650 metres. NZEC has cased the well to depth and will
perforate the Moki formation shortly. In December the Arakamu-2 well
was perforated across two intervals in the Mt. Messenger formation. A
service rig is working on the well to remove stuck tubing in order to
allow completion operations to proceed.  
NZEC's contracted drill rig has been moved to the Wairere site and
the Company expects to spud the Wairere-1 well by the end of the
week, targeting the Mt. Messenger formation at approximately 1,900
metres. Wairere is NZEC's fourth drill site, located approximately
3.75 km southwest of the Company's Copper Moki site and 7.5 km
southwest of the Waihapa Production Station.  
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 2.27 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 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 any of the words "will", "proceed", "expects", "in order
to", "targeting" 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; 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 the Petroleum Licenses;
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 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. 
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 
New Zealand Energy Corp.
Chris Bush
New Zealand Country Manager
New Zealand: 64-6-757-4470
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