Monumental's Copper Moki wells producing 125 bbl/d oil

Executive Summary

• Monumental Energy reports combined oil production of ~125 bbl/day from the recompleted Copper Moki‑1 and Copper Moki‑2 wells, with plans to increase pump rates toward a target of 175 bbl/day.
• The company’s royalty agreement with New Zealand Energy provides a 75% royalty on production until recovery of its capital investment, thereafter shifting to a 25% royalty for the life of the wells.
• New Zealand Energy completed a $2.72 M private placement at $0.18/share, eliminated $2 M debt, and is advancing gas‑storage projects and additional oil‑gas development in the Taranaki basin.

Key Details

• Copper Moki Production – Well‑1 recompleted July 2025; both wells on stream ~1 month delivering ≈125 bbl/day of oil (pump speeds being increased).
• Associated Gas – Exported to Waihapa production station for processing and sale.
• Oil Logistics – Oil stored onsite, trucked to port every two days; next shipment scheduled Sept 20 2025.
• Royalty Agreement – Monumental receives 75% royalty on production until its initial capital is recovered; thereafter royalty reduces to 25% for the remainder of the wells’ life. Cumulative production data to be disclosed in coming weeks.
• Future Production Target – Pumps will be turned up to achieve a set daily rate of 175 bbl/day, with testing at higher rates planned.
• New Zealand Energy Updates –
• Tariki Gas Storage Project: Structural remapping and dynamic reservoir modelling underway; well‑engineering activities slated for Q3 2025 to restart gas flow.
• Dynamic Modelling Deliverables: Expected August 2025 delivery of storage capacity, cushion‑gas requirements, operating pressures/rates, and long‑term behavior studies.
• Financing: Completed $2.72 M private placement at $0.18/share; eliminated $2 M debt to Vliet Financing BV; strengthened working capital for gas‑storage project continuation and planned sale to a local gas provider.
• Waihapa‑Ngaere JV Production – Recommenced March 2025; Ngaere‑1 pipeline recommissioned July 2025, achieving >400 bbl in a single day; current constraints due to on‑site tank capacity and trucking logistics (≈180 bbl/day trucked, 15 bbl/day via pipeline).
• Operational Focus: Address bottlenecks over the next month to enable continuous higher‑rate production and increased pipeline transport.

Notable Quotes

“The production at Copper Moki continues to increase slowly as the pumps are turned up methodically. The pumps will continue to be turned up to its set daily production rate of 175 but will be tested higher to see what the wells can produce at capacity.” – Maximilian Sali, Vice‑President, Corporate Development & Director, Monumental Energy Corp.