Monumental Energy Announces Completion of Workover and Resumption of Commercial Production at the Copper Moki-2 Oil and Gas Well in New Zealand

Monumental Energy Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the successful workover and resumption of commercial production at the Copper Moki-2 (CM-2) well, located in the Taranaki Basin, New Zealand.

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Copper Moki-2 well in production

The primary objective of the CM-2 workover was to restore oil and associated gas production from the Mt. Messenger sands and to address flow restrictions identified during prior operations. Additionally, the program included perforating and testing previously untapped hydrocarbon zones.

At CM-2, three new intervals have been perforated, which are expected to contribute to significant flush production rates and increase overall output. Early indications confirm the new pump is functioning as expected, with approximately 300 barrels of brine—previously used to maintain pressure—successfully pumped out of the well.

The Copper Moki-1 (CM-1) workover is expected to take approximately 10 days. If successful, the well will be placed on continuous production alongside CM-2. Monumental Energy and NZEC anticipate significant flush production rates from both wells.

At the time of the original drill program at Copper Moki, New Zealand faced a gas surplus, and the field remained isolated from the gas network. Today, the field has been fully integrated into the gas infrastructure, presenting a meaningful revenue opportunity that was previously unavailable.

CM-1 and CM-2 were originally shut-in due to mechanical issues over time, rather than any reservoir-related concerns. The wells required only standard maintenance, and equipment upgrades to resume production. In late 2024, Monumental Energy entered into an agreement with NZEC to bring the wells back online, as NZEC shifted its focus to a gas storage business model. Under the terms of the agreement, Monumental Energy will receive a 25% royalty on all oil and gas production from the Copper Moki site, following full recovery of its 75% initial capital contribution.

Oil produced in the Taranaki Basin typically receives a modest discount to Brent Crude (USD $77.39 as of June 20), while natural gas sells at a premium, with current prices ranging between USD $11.00 and $15.00 per MCF—significantly higher than North American market levels.

Cumulative production data, measured in barrels of oil equivalent (BOE), will be released in the coming weeks.

Max Sali, Vice President of Corporate Development and Director, commented: “The Copper Moki wells have demonstrated exceptional reservoir performance, with cumulative production approaching one million barrels of oil to date. The successful recompletion of CM-2—including the perforation of three new intervals—is expected to significantly enhance output. We anticipate strong flush volumes and reservoir recharge, further validating the productivity of the Mt. Messenger formation. This positions us for meaningful near-term cash flow while supporting the long-term value proposition for our shareholders.”