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July 03, 2015 8:08 AM 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

Chief Financial Officer
Age: 55
Total Annual Compensation: $272.1K
General Manager of Midstream Operations
Total Annual Compensation: $323.7K
Compensation as of Fiscal Year 2014.

New Zealand Energy Corporation Key Developments

New Zealand Energy Corporation Announces Board Changes

New Zealand Energy Corporation announced that the former Chairman, Mr. John Greig retired as a director at the annual general meeting held on June 16, 2015. The annual general meeting also saw the retirement of Mr. John Proust as a director. A further outcome of the annual general meeting is the appointment of Dr. David Llewellyn to the board. Dr. Llewellyn has enjoyed a distinguished career as a senior executive with a major company in the international oil and gas business spanning more than 35 years. He brings to the board significant depth and breadth of practical expertise in technical and business/commercial disciplines along with a proven track record of effective leadership, governance, and global business delivery.

New Zealand Energy Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

New Zealand Energy Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the net loss was $1,179,930 compared with a loss of $2,022,722 a year ago. The company realized a loss per share of $0.01. The company has recorded revenues for the period (on a like for like basis) of $1,196,477(on production of 12,595 barrels) compared with $2,241,372 (on production of 19,682 barrels, excluding sales of purchased oil and condensate) for the corresponding period last year.

New Zealand Energy Corporation Auditor Raises 'Going Concern' Doubt

New Zealand Energy Corporation filed its Annual on Apr 29, 2015 for the period ending Dec 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
March 3, 2015
--
Private Placement
December 12, 2014
--
 

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