Monumental Energy Announces Commercial Production at Waihapa H1

The most recent news (March 16, 2026) announces the successful restart of commercial production at the Waihapa H1 well in New Zealand. Key highlights include: - Successful flow from all 7 perforations in the Mount Messenger formation. - Natural, high-pressure oil flow achieved without the need for additional stimulation (fracking). - Production commenced March 13, 2026, with oil already being trucked to port. - Associated gas is being processed immediately at the adjacent Waihapa facility, capturing high New Zealand gas prices (USD $10–$15/MCF).

This news is Material - Positive as it marks the transition of the company from a development-stage partner to a multi-well producer with immediate cash flow. - Operational Success: The fact that the well flowed naturally without stimulation suggests high reservoir quality and lower-than-expected operating costs. - Infrastructure Advantage: Being within 100 meters of the Waihapa production facility minimizes capital expenditure for hook-up and allows for immediate monetization of gas, which is often flared in other jurisdictions. - Validation of Strategy: This follows the success at Ngaere-1 (120 bbl/d), proving that the "bypass pay" strategy in the Taranaki Basin is repeatable and commercially viable. - Revenue Implications: With oil being trucked and gas being sold at a premium, the company is now generating revenue to offset its historical burn rate ($361k expenses in the last reported quarter).

Monumental Energy Corp. has pivoted from lithium exploration in Chile (Laguna project currently impaired) to oil and gas production in the Taranaki Basin, New Zealand. - Flagship Project: A partnership with New Zealand Energy Corp (NZEC) to work over and re-enter wells in the Waihapa/Ngaere and Copper Moki fields. - Mechanism: Monumental typically funds workover costs in exchange for a 75% net revenue interest until payback, reverting to a 25% royalty thereafter.