New Zealand Energy Corp. produces, develops and explores for oil and natural gas in the Taranaki Basin, New Zealand's only producing petroleum basin, and operates midstream infrastructure there. Through its subsidiaries it is the operator of the Tariki, Waihapa and Ngaere mining licences (a 50% interest, with L&M Energy holding the other 50%), holds a 100% interest in the Copper Moki mining permit and exploration permit PEP 51150, and operates the Waihapa Production Station and its gathering and sales pipelines, which handle oil, gas, LPG and produced water for its own fields and for third parties.

Production. In the first half of 2026 the company perforated the Mount Messenger formation in the Ngaere-1, Ngaere-2 and Waihapa-H1 wells. Oil production for the three months ended 30 June 2026 was 10,950 barrels (NZEC share), up from 1,685 barrels a year earlier, and the quarter was the company's first profitable one, with revenue of $2,160,454. Debottlenecking and production-optimisation work began at quarter end to support higher, more stable rates.

Tariki Gas Storage Project. The company's principal strategic objective is converting the depleted onshore Tariki gas field into underground gas storage for a market with no gas imports and declining domestic supply. The Tariki-1A and Tariki-5A wells flowed through the second quarter of 2026, with production and reservoir testing continuing to establish deliverability and storage characteristics, and discussions under way with Genesis Energy and other potential participants on commercial arrangements for storage capacity.

Reserves and market. The company reports 6.88 PJ (5.50 Bcf) of proved plus probable gas reserves. New Zealand wholesale gas prices have exceeded US$12 per mcf on average during recent winters and peaked above US$25 per mcf in 2024 and 2025.

Financing. The company closed a C$3.5 million private placement in February 2026 and carries C$3.0 million of convertible debt.

Our current management team comprises:

Toby Pierce, Chief Executive Officer & Director Appointed CEO in 2026 with approximately 30 years in energy and natural resources. Former CEO of TAG Oil Ltd., with a proven track record in driving growth and optimising energy assets.

Robert Bose, Executive Chairman & Director Over 17 years in the Global Investment Banking Group at the Bank of Nova Scotia. Currently President of Sintana and a principal at Charlestown Capital Advisors. Honours Degree in Economics, CFA Charterholder.

Mike Adams, Director Over 37 years of global experience in upstream oil and gas, adept at revitalising late-life assets. Delivered over 500 million barrels of oil and 4 TCF of gas, contributing to over US$2 billion in asset value.

Bill Treuren, Director Over 35 years in the upstream oil and gas industry in New Zealand. Senior engineering and project management roles with major New Zealand upstream and midstream companies.

Jessica Lindskog, Director 20 years of energy and capital markets experience. Leads investor communications for a publicly traded energy company. MSc in Accounting and Finance from the London School of Economics; Bachelor of Management from the University of Lethbridge.

Our team has a proven track record of responsibility for the appraisal and development of over 1 billion barrels of oil and gas, with significant New Zealand experience across multiple operations. We operate the Waihapa Production Station and the Tariki Gas Storage business.