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Monumental Energy Corp. (MNMRF) provides updates on its New Zealand operations. The Tariki-5A well has intersected target sands 11-meters higher than previous wells, confirming free gas and condensate presence. While peak flow rates exceeded 4mmscf/d, stable rates are around 1 mmscf/d with 25-30 bbls/d of condensate.
The company is advancing its gas storage project, with Stage 1 targeting injection rates of 10-15 mmscf/d and extraction rates of ~30 mmscf/d. The Tariki Gas Field can potentially store 25-40 Bscf of gas, with injection planned for Q4 2025.
At Copper Moki, workover operations are scheduled for April 2025, targeting combined oil rates exceeding 100 stb/oil. The company also received approval to reduce warrant exercise prices from $0.30 to $0.25 for 17,120,284 warrants.
CEO.CA, a leading investor social network platform, featured an interview with Maximilian Sali, VP Corporate Development & Director at Monumental Energy (TSXV: MNRG) (OTCQB: MNMRF) on their 'Inside the Boardroom' series. The discussion covered Monumental Energy's strategic investment in New Zealand Energy Corp., the company's rising share price, and how increasing energy prices are impacting their top line. The interview is available on CEO.CA's YouTube channel.
Monumental Energy Corp (TSXV: MNRG) has received final approval from the TSX Venture Exchange for a non-arm's length call option and royalty agreement. The deal grants Monumental a 25% royalty interest in the refurbishment and restart of two previously producing oil wells owned by New Zealand Energy, known as the Copper Moki wells.
The announcement was made through CEO.CA's 'Inside the Boardroom' interview series, featuring Maximilian Sali, VP Corporate Development & Director of Monumental Energy, discussing the strategic implications of this agreement for the company's expansion into oil and gas production.
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