New Zealand Energy Corp. Provides Update on Tariki-5
New Zealand Energy Corp. (TSXV: NZ) has announced an update on the Tariki-5 gas well. The Tariki Joint Venture, comprising NZEC Tariki (50%) and L&M Energy (50%), has been informed of a delay in rig mobilization due to mechanical issues with another party's well. Drilling operations are now expected to start on September 23, 2024, with completion and tie-in likely by November 11, 2024. This represents a two-week delay from the original schedule.
Despite the setback, long lead items are expected to be available on time, and permitting is progressing well. The company is also nearing completion of an agreement for gas export and processing, well ahead of production commencement.
La New Zealand Energy Corp. (TSXV: NZ) ha annunciato un aggiornamento sul pozzo di gas Tariki-5. Il Joint Venture Tariki, composto da NZEC Tariki (50%) e L&M Energy (50%), è stato informato di un ritardo nella mobilizzazione della piattaforma a causa di problemi meccanici con un altro pozzo di un'altra parte. Si prevede ora che le operazioni di perforazione inizino il 23 settembre 2024, con completamento e collegamento probabili entro l'11 novembre 2024. Questo rappresenta un ritardo di due settimane rispetto al programma originale.
Nonostante l'imprevisto, gli articoli a lungo termine dovrebbero essere disponibili in tempo e il processo di autorizzazione sta procedendo bene. L'azienda è anche vicina alla conclusione di un accordo per l'esportazione e la lavorazione del gas, ben prima dell'inizio della produzione.
New Zealand Energy Corp. (TSXV: NZ) ha anunciado una actualización sobre el pozo de gas Tariki-5. La joint venture Tariki, compuesta por NZEC Tariki (50%) y L&M Energy (50%), ha sido informada de un retraso en la movilización de la plataforma debido a problemas mecánicos con el pozo de otra parte. Ahora se espera que las operaciones de perforación comiencen el 23 de septiembre de 2024, con una finalización y conexión probable para el 11 de noviembre de 2024. Esto representa un retraso de dos semanas respecto al cronograma original.
A pesar del contratiempo, se espera que los artículos con largo plazo estén disponibles a tiempo y los permisos están avanzando bien. La empresa también está cerca de completar un acuerdo para la exportación y el procesamiento de gas, mucho antes del inicio de la producción.
뉴질랜드 에너지 코퍼레이션 (TSXV: NZ)가 타리키-5 가스 우물에 대한 업데이트를 발표했습니다. NZEC 타리키 (50%)와 L&M 에너지 (50%)로 구성된 타리키 조인트 벤처는 다른 당사자의 우물에 대한 기계적 문제로 인해 장비 이동 지연에 대한 통보를 받았습니다. 드릴링 작업은 이제 2024년 9월 23일에 시작될 것으로 예상됩니다, 완료 및 연결은 2024년 11월 11일까지 가능성이 있습니다. 이는 원래 일정에서 2주 지연을 의미합니다.
지연에도 불구하고 장기 소요품이 제때에 제공될 것으로 예상됩니다, 그리고 허가는 순조롭게 진행되고 있습니다. 회사는 생산 시작 전에 가스 수출 및 가공에 대한 계약 체결이 다가오고 있습니다.
New Zealand Energy Corp. (TSXV: NZ) a annoncé une mise à jour concernant le puits de gaz Tariki-5. Le projet conjoint Tariki, composé de NZEC Tariki (50%) et de L&M Energy (50%), a été informé d'un retard dans la mobilisation de l'équipement en raison de problèmes mécaniques avec un autre puits. Les opérations de forage devraient désormais commencer le 23 septembre 2024, avec une finalisation et un raccordement probables d'ici le 11 novembre 2024. Cela représente un retard de deux semaines par rapport au calendrier original.
Malgré ce contretemps, les articles à long terme devraient être disponibles à temps, et l'obtention des permis progresse bien. L'entreprise est également sur le point de finaliser un accord pour l'exportation et le traitement du gaz, bien avant le début de la production.
Die New Zealand Energy Corp. (TSXV: NZ) hat ein Update zum Tariki-5 Gasbrunnen angekündigt. Das Tariki Joint Venture, bestehend aus NZEC Tariki (50%) und L&M Energy (50%), wurde über eine Verspätung bei der Mobilisierung der Bohrplattform aufgrund mechanischer Probleme mit dem Brunnen einer anderen Partei informiert. Die Bohrarbeiten werden nun für den 23. September 2024 erwartet, mit voraussichtlichem Abschluss und Anschluss bis zum 11. November 2024. Das stellt eine Zwei-Wochen-Verzögerung gegenüber dem ursprünglichen Zeitplan dar.
Trotz des Rückschlags werden die langfristigen Artikel voraussichtlich rechtzeitig verfügbar sein, und die Genehmigung schreitet gut voran. Das Unternehmen steht außerdem kurz vor dem Abschluss eines Vertrags über Gasexport und -verarbeitung, noch vor Produktionsbeginn.
- Agreement for gas export and processing is nearly completed, ahead of production start
- Long lead items are expected to be available on time
- Permitting is progressing well
- Drilling operations for Tariki-5 gas well delayed by approximately two weeks
- Rig mobilization delayed due to mechanical problems with another party's well
Wellington, New Zealand--(Newsfile Corp. - August 21, 2024) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announced today an operational update regarding the Tariki-5 gas well.
The Tariki Joint Venture, comprised of the Company's wholly owned subsidiary, NZEC Tariki Limited (as to
The current planning indicates well drilling operations may not commence at Tariki until 23 September 2024; with driling, completion & tie-in of the well likely completed by 11 November 2024. This is a delay of approximately two weeks.
All long lead items are expected to be available in a timely matter and permitting is all well in hand. Agreement for export and processing of the gas is nearly completed and well ahead of the commencement of production.
On behalf of the Board of Directors
"James Willis"
Chairman
New Zealand Energy Corp.
Tel: +64-6-757-4470
New Zealand Energy Corp. Contacts
Email: info@newzealandenergy.com
Website: www.newzealandenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the business of the Company and the Tariki Joint Venture, including future plans and objectives, the gas sales agreement, and the Tariki-5 well. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NZEC's current beliefs and is based on information currently available to NZEC and on assumptions NZEC believes are reasonable. These assumptions include, but are not limited to: NZEC's current and initial understanding and analysis of its projects and the development required for such projects; the costs of NZEC's projects; NZEC's general and administrative costs remaining constant; and the market acceptance of NZEC's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NZEC to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; industry condition; volatility of commodity prices; imprecision of reserve estimates; environmental risks; operational risks in exploration and development; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting NZEC; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in NZEC's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although NZEC has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of NZEC as of the date of this news release and, accordingly, is subject to change after such date. However, NZEC expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220759
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