Monumental Energy Reports Initial Flush Production of 3,000 Barrels and a Stable Unstimulated Flow Rate of 568 Barrels Per Day From Waihapa H1

The most recent news (March 19, 2026) reports that the Waihapa H1 well in New Zealand has achieved a stable, unstimulated flow rate of 568 barrels of oil per day (bopd) of 38° API crude. This follows an initial "flush" production of 3,000 barrels. The well was brought back online via a low-cost perforation program targeting the Mount Messenger formation. Crucially, the well is located within 100 meters of existing production infrastructure, allowing for immediate processing of associated gas, which currently commands high prices (USD $10–$15/MCF) in the New Zealand market.

This news is Material - Positive and represents a significant operational milestone. - Production Scale: The 568 bopd rate is substantially higher than the 120-125 bopd levels reported from previous wells (Ngaere-1 and Copper Moki). For a company of this size, this volume of high-margin production is transformative for cash flow. - Infrastructure Advantage: Proximity to the Waihapa facility minimizes capital expenditure (CAPEX) for tie-ins and allows for the immediate monetization of natural gas, which was previously a stranded asset for former operators. - Proof of Concept: This success validates the "bypass pay" strategy—identifying missed zones in old wells—as a repeatable, low-risk, and low-cost growth engine. - Revenue Potential: At current oil prices and New Zealand gas premiums, this single well could generate significant monthly revenue, potentially making the company self-sustaining.

Monumental Energy is focused on the Taranaki Basin, New Zealand. Its flagship strategy involves partnering with New Zealand Energy Corp (NZEC) to perform workovers on existing wells (Copper Moki, Waihapa, and Ngaere fields). By targeting "bypass pay" in the Mount Messenger formation, they avoid the high cost of new drilling while utilizing existing production and pipeline infrastructure.