August 21, 2024 9:31 PM EDT | Source: New Zealand Energy Corp.
Wellington, New Zealand–(Newsfile Corp. – August 21, 2024) – New Zealand Energy Corp. (TSXV: NZ) (“NZEC” or the “Company”) provided an operational update on the Tariki-5 gas well today.
The Tariki Joint Venture, which consists of the Company’s wholly-owned subsidiary, NZEC Tariki Limited (50%), and L&M Energy Limited (50%), has received notice from the drilling rig operator that the mobilization of the rig to the Tariki-5 drill site has been delayed due to mechanical issues with the current well being drilled for another party.
As of the current plan, drilling operations at Tariki are expected to begin on September 23, 2024, with drilling, completion, and tie-in of the well likely to be finished by November 11, 2024. This represents a delay of approximately two weeks.
All necessary long lead items are anticipated to be available in a timely manner, and permits are in order. The agreement for gas export and processing is almost finalized well ahead of the production commencement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the TSX Venture Exchange policies) takes responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This press release contains “forward-looking information” according to Canadian securities legislation. All statements, excluding historical facts, are considered forward-looking information. The content includes information about the Company, the Tariki Joint Venture, future plans, objectives, the gas sales agreement, and the Tariki-5 well. The accuracy of this forward-looking information is not guaranteed, and actual results could differ from the anticipated information. This forward-looking information is based on the Company’s current beliefs, available information, and reasonable assumptions. Various risks, uncertainties, and factors could impact actual results, performance, achievements, and differ from the expressed information. Readers are advised not to solely rely on the forward-looking information provided in this release. The Company does not intend to update or revise the forward-looking information unless required by applicable securities law.
To access the original source of this press release, please visit https://www.newsfilecorp.com/release/220759
