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 and board team brings deep energy sector expertise and capital markets experience.

Leadership Team

Toby Pierce, CEO & Director Appointed CEO in 2026, Toby brings approximately 30 years in energy and natural resources. He is the former CEO of TAG Oil Ltd. and has a proven track record in driving growth and optimizing energy assets.

Robert Bose, Executive Chairman & Director Robert has over 17 years of experience in the Global Investment Banking Group at the Bank of Nova Scotia. He is currently President of Sintana and a principal at Charlestown Capital Advisors. He holds an Honours Degree in Economics and is a CFA Charterholder.

Mike Adams, Director With over 37 years of global upstream oil and gas experience, Mike is adept at revitalizing late-life assets. He has delivered over 500 million barrels of oil and 4 TCF of gas, contributing to over US$2 billion in asset value.

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

Jessica Lindskog, Director Appointed to the board on August 11, 2026, Jessica brings 20 years of international experience across the energy sector and capital markets, with expertise in investor relations, corporate strategy, equity research, and financial valuation. She currently manages strategic investor communications for a publicly traded international energy company. Jessica holds a Master of Science degree in Accounting and Finance from the London School of Economics and a Bachelor of Management degree from the University of Lethbridge.

With Jessica's appointment, our board now comprises two independent directors, satisfying the requirement under TSX Venture Exchange Policy 3.1.

Our team has a collective 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 and companies.