Monumental Energy Reports Initial Flush Production of 3,000 Barrels and a Stable Unstimulated Flow Rate of 568 Barrels Per Day From Waihapa H1
MWN-AI** Summary
Monumental Energy Corp. has reported promising outcomes from its Waihapa H1 well in New Zealand's Taranaki Basin, achieving an initial flush production of 3,000 barrels and a stable unstimulated flow rate of 568 barrels per day of 38° API crude oil. The well was successfully reactivated through a cost-effective perforation program covering seven intervals, enhancing its production capacity efficiently while located near existing infrastructure. The flow rate is anticipated to continue increasing, with further production updates expected at the end of the month.
Monumental has established a funding agreement with New Zealand Energy Corp (NZEC), allowing for collaborative appraisal and development workover projects to boost production across specific Petroleum Mining Licences. This partnership has been instrumental in both the Waihapa H1 project and another successful workover at the Ngaere 1 well, demonstrating a successful strategy of pursuing low-risk, high-impact production opportunities.
Maximilian Sali, CEO of Monumental, expressed satisfaction with the results of the Waihapa H1 workover, emphasizing its role in achieving capital-efficient production growth. He credited the operational success to NZEC’s expertise and the collaboration with L&M Energy Ltd., which holds the other 50% share in the mining licences.
The results from the ongoing workover programs bode well for imminent production revenue, further validating Monumental's strategic focus on maximizing cash flow with minimal investment. As the company continues to develop its position in the Taranaki Basin, it is also involved in critical minerals through a royalty interest in the lithium project in Chile, underscoring its diversified portfolio aimed at growth in both oil and clean energy sectors.
MWN-AI** Analysis
Monumental Energy Corp.'s recent announcement regarding the Waihapa H1 well is a significant development for the company, posting an impressive initial flush production of 3,000 barrels and a stable unstimulated flow rate of 568 barrels per day. This favorable result highlights the potential for robust cash flow, particularly as the daily flow rates continue to rise.
For investors considering Monumental Energy (TSX-V: MNRG), the current momentum provides a compelling case for both increased production and potential revenue. The successful reworking of the Waihapa H1 well demonstrates the effectiveness of the company’s low-cost perforation strategy and its operational efficiency. Additionally, the proximity of the well to existing production infrastructure minimizes future capital expenditures, aligning with the company's focus on capital-efficient growth.
The strategic partnership with New Zealand Energy Corp., which holds a 50% interest in the relevant licenses, further amplifies the potential for successful appraisal and development projects in the prolific Taranaki Basin. Given the favorable geological conditions and the indication of repeatability in Monumental's drilling approach, investors may benefit from further exploration efforts outlined for both the Waihapa H1 and the previously announced Ngaere 1 well.
However, potential investors should remain cautious. While the initial results are promising, the oil and gas sector can be volatile, influenced by fluctuating crude oil prices and operational challenges inherent in exploration. It is advisable for investors to monitor the price of oil, market conditions, and operational updates closely, as these factors could significantly impact Monumental's future performance.
In conclusion, Monumental Energy's recent successes present an attractive opportunity, but due diligence is essential. Investors should weigh the upside potential against the inherent risks associated with the energy sector.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Monumental Energy Corp. (“ Monumental ” or the “ Company ”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce a better-than-anticipated, stable, unstimulated flow rate of 568 barrels per day of 38° API crude oil from the reworking of the Waihapa H1 well in New Zealand’s prolific onshore Taranaki Basin. The well was successfully brought back online using a low-cost perforation program across seven intervals, totaling six-metres and is located within 100-metres of existing production infrastructure (see the Company’s news release dated March 16, 2026). To note: the daily flow rate continues to rise on a daily basis and we will update the market with total production at the end of the month.
Monumental and New Zealand Energy Corp. (“ NZEC ”) entered into a funding agreement (see news releases dated January 12, 2026, March 5, 2026, and March 10, 2026), enabling Monumental to participate in mutually agreed appraisal and development workover projects aimed at increasing production across Petroleum Mining Licences PML 38140 and PML 38141 (the “ Licences ”). The Waihapa H1 well is the latest successful project executed under this partnership. NZEC holds a 50% interest in the Licences, which are located in the onshore Taranaki Basin, New Zealand.
Maximilian Sali, Chief Executive Officer, comments: “This workover has significantly exceeded expectations and reinforces our focus on capital-efficient production growth. I would like to thank our operator, New Zealand Energy Corp., and our lead technical director, Bill Treuren, for their expertise in successfully executing these workovers, along with our partner L&M Energy Ltd., which holds the remaining 50% interest in the Licences. With strong results from both Waihapa H1 and the previously announced Ngaere 1 well, we are seeing clear repeatability in our approach and are excited to advance a growing pipeline of permitted wells.”
The results from the New Zealand workover programs highlight the potential for imminent production revenue, which further validates Monumental’s strategy of targeting low-risk, high-impact opportunities capable of delivering cash flow with minimal capital investment.
ABOUT MONUMENTAL ENERGY CORP.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sectors. The Company is building a strategic position in New Zealand’s onshore Taranaki Basin, targeting near-term oil production and longer-term natural gas development.
The Company has a funding agreement with New Zealand Energy Corp targeting production optimization and workover opportunities across existing fields. The Company also holds securities of NZEC and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2% net smelter return royalty on Summit Nanotech’s interest in the Salar de Turi lithium project in Chile.
On behalf of the Board of Directors,
/s/ “Max Sali”
Max Sali, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release contains “forward?looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, the potential plans for the Company’s projects, potential future oil and gas targets and projects, the expected outcomes from various oil and gas workover wells, evaluating and pursuing other potential workovers and oil and gas projects, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ at www.sedarplus.ca . While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company’s ability to operate, capital market conditions, restriction on labour and international travel and supply chains, the ability to manage working capital, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260319606131/en/
Max Sali , Chief Executive Officer, Director and Founder
Email: max@monumental.energy
Phone: 1-604-367-8117
FAQ**
How does Monumental Energy Corp.'s partnership with Micronesian Mineral Res Ltd MNMRF enhance its operational capabilities in the Taranaki Basin, and what specific benefits have been realized from this collaboration?
With the recent successful flow rate of 568 barrels per day from the Waihapa H1 well, how does Monumental Energy Corp. plan to sustain this momentum, especially in relation to its partnership with Micronesian Mineral Res Ltd MNMRF?
Considering the ongoing funding agreement with NZEC, what role does Micronesian Mineral Res Ltd MNMRF play in future projects aimed at optimizing production in the Taranaki Basin?
How does the performance of the Waihapa H1 well and the overall strategy of Monumental Energy Corp. position it against global competitors, particularly those linked to Micronesian Mineral Res Ltd MNMRF?
**MWN-AI FAQ is based on asking OpenAI questions about Monumental Energy Corp. (OTC: MNMRF).
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