New Zealand Energy Receives Overseas Investment Office Approval Related to the Acquisition of the Waihapa Production Station

New Zealand Energy Receives Overseas Investment Office Approval Related to the 
Acquisition of the Waihapa Production Station 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/26/13 -- New
Zealand Energy Corp. ("NZEC" or the "Company") (TSX
VENTURE:NZ)(OTCQX:NZERF) is pleased to announce that the Company has
received approval from New Zealand's Overseas Investment Office for
the planned acquisition of the 49-hectare site upon which the Waihapa
Production Station is situated.  
As previously announced, NZEC has entered into an agreement with
Origin Energy Resources NZ (TAWN) Limited ("Origin") to acquire the
Waihapa Production Station and associated gathering and sales
infrastructure as well as four petroleum licenses in the main
Taranaki Basin production fairway (the "TAWN Assets"). The Waihapa
Production Station is located on a portion of the 49-hectare site and
surrounded by additional acreage. 
The Overseas Investment Office assesses applications from overseas
investors who wish to acquire non-urban land exceeding 5 hectares in
area, to ensure that the investment is likely to provide substantial
and identifiable benefits to New Zealand. The criteria for consent
include assessment of benefits such as job opportunities and the
introduction of new technology or business skills and additional
Receiving approval from New Zealand's Overseas Investment Office is a
significant step toward concluding the acquisition of Origin's TAWN
Assets. Four additional conditions related to the acquisition must be
met to close the transaction, and all are well advanced. NZEC has
received conditional approval from the TSX Venture Exchange, and New
Zealand Petroleum & Minerals has voiced its support for the
transaction. Origin has recommissioned the TAWN LPG plant and the
plant has been certified for operation. NZEC is working diligently to
finalize agreements with Contact and Origin related to use of the
Ahuroa gas storage facility and the Waihapa Production Station, and
the Company expects to meet all conditions precedent and conclude the
transaction in Q2-2013.  
Concurrent with closing the transaction, NZEC is considering a number
of options to increase its financial capacity including increasing
cash flow from oil production, credit facilities, joint ventures, 
commercial arrangements or other financing alternatives. 
NZEC's objective is to increase production and cash flow while
reducing exploration expenses, and the Company believes that
opportunities exist on the petroleum licenses to achieve this
On behalf of the Board of Directors 
John Proust, Chief Executive Officer and 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 "planned", "step toward", "must be met",
"expects to", "is considering", "to increase", "increasing",
"achieve", 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; uncertainty
regarding timing to close the acquisition of assets from Origin, or
the Company's ability to close the transaction at all; the need to
obtain additional consents and approval 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.  
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. 
New Zealand Energy Corp.
John Proust
Chief Executive Officer & Director
North American toll-free: 1-855-630-8997 
New Zealand Energy Corp.
Bruce McIntyre
Executive 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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