January 27, 2015 2:33 PM ET

Oil, Gas and Consumable Fuels

Company Overview of New Zealand Energy Corporation

Company Overview

New Zealand Energy Corp., through its subsidiaries, is engaged in the exploration, development, and production of conventional and unconventional oil and natural gas resources in New Zealand. The company also operates midstream assets. Its property portfolio consists of approximately 1.15 million net acres in the Taranaki Basin and East Coast Basin of North Island. As of December 31, 2013, the company’s proved and probable reserves consist of 1.6 million barrels of oil equivalent. New Zealand Energy Corp. was founded in 2010 and is headquartered in Vancouver, Canada.

200 Burrard Street

Suite 1680

Vancouver, BC V6C 3L6

Canada

Founded in 2010

Phone:

604-630-8997

Fax:

604-488-0319

Key Executives for New Zealand Energy Corporation

General Manager of Operations
Total Annual Compensation: $270.9K
Compensation as of Fiscal Year 2013.

New Zealand Energy Corporation Key Developments

New Zealand Energy Corporation Announces Unaudited Consolidated Financial and Production Results for the Third Quarter and Nine Months Ended September 30, 2014

New Zealand Energy Corporation announced unaudited consolidated financial and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported oil production of 18,689 bbl against 11,958 bbl a year ago. For the nine months, the company reported oil production of 57,436 bbl against 60,694 bbl a year ago. For the quarter, the company reported revenue of $2,104,561 against $1,519,010 a year ago. Total comprehensive loss was $8,540,759 or $0.01 per basic and diluted per share against total comprehensive income of $1,347,788 or $0.02 per basic and diluted per share a year ago. For the nine months, the company reported revenue of $11,500,722 against $6,553,968 a year ago. Total comprehensive loss $13,704,362 or $0.08 per basic and diluted per share against $3,339,589 or $0.06 per basic and diluted per share a year ago.

New Zealand Energy Corporation Closes Vancouver Office; Announces Management Changes

New Zealand Energy Corporation (NZEC) announced the decision to close its Vancouver office while retaining its Canadian company registration and incorporation. The company also announced that David Robinson, CEO of the New Zealand Business, will step into the role of CEO of NZEC with immediate effect, assuming responsibility for corporate finance and investor relations activities. John Proust, the former CEO of NZEC, will continue as a nonexecutive director of the Company. The company's senior management team has also resigned as officers of the Company with immediate effect, but will continue to support the Company through to December 31, 2014. NZEC has accepted resignations from Gerrie van der Westhuizen as VP Finance, Rhylin Bailie as VP Corporate Communications and Investor Relations, and Eileen Au as Corporate Secretary.

New Zealand Energy Corporation Provides Operational Update

New Zealand Energy Corporation provided an update on production and development activities on the company’s properties in the Taranaki Basin of New Zealand’s North Island. Total corporate production during October 2014 averaged 214 barrels of oil per day net to NZEC, slightly ahead of the September average of 205 bbl/d and in line with the average of 215 bbl/d for the first nine months of 2014. Production from the TWN wells was up slightly in October, despite a five-day shutdown of the Waihapa facilities to allow for inspection and recertification of a number of pressure vessels. No significant repairs were necessary and the vessels were recertified for another four years of service. Production from the Copper Moki field remains stable, with an average of 136 bbl/d during October and an averageof 135 bbl/d since March 1, 2014, when the Waitapu-2 well came online. In addition to oil production, during October NZEC sold four terrajoules of Copper Moki natural gas production.

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