VANCOUVER, BC, Sept. 19,
2024 /CNW/ - Monumental Energy Corp.
("Monumental" or the "Company") (TSXV: MNRG) (FSE:
ZA6) (OTCQB: MNMRF) is pleased to announce that it will be doing
site visits and due diligence on multiple conventional oil and gas
opportunities in the Taranaki region located on the north island of
New Zealand with New Zealand
Energy Corp. (TSXV: NZ) ("NZEC").
Potential opportunities include the farm-in on several oil
workover wells, royalty or streaming arrangements, exploration of
new oil and gas targets on NZEC concessions and a bid to acquire
new tender blocks. Monumental intends to collaborate with NZEC on
these opportunities through Monumental Energy Corp NZ Limited, the
Company's recently incorporated wholly-owned subsidiary.
Additionally, NZEC owns 50% of the Waihapa production facility,
which allows for any oil workover production or new discoveries to
be either trucked less than 3 km or directly tied into the
facility, ensuring a fast route to market for New Zealand's supply. Any potential
transaction with NZEC is subject to, among other things, due
diligence, negotiation, execution of definitive agreements and TSX
Venture Exchange approval.
Monumental will also visit the site of the Tariki-5 gas well
that NZEC plans to drill in the near future. NZEC has contracts to
sell gas from Tariki-5 to Genesis Energy, a large New Zealand gas and electricity utility.
Monumental is a significant shareholder of NZEC, owning
1.3M shares or 8.63% at an average
cost base of $0.46 cents.
Monumental will be doing site visits, due diligence and meetings
in New Zealand during the week of
September 24th and will be
meeting with drillers, contractors, legal counsel, government
officials and other individuals.
Maximilian Sali, VP Corporate
Development, director and founder comments, "As a significant
shareholder of NZEC and having built a strong relationship with the
team, it seemed only natural for us to take another step farther
into oil and gas in this prolific basin in New Zealand and begin assessing opportunities
for Monumental to generate its own revenue by partnering on certain
assets and potentially bidding on new blocks with NZEC. We are
excited about our upcoming site visits in New Zealand. We are also very excited that
NZEC is soon to begin drilling its highly anticipated Tariki-5 gas
well into a market where the prices range from 15-25 dollars NZ an MCF due to the extreme gas
shortages that the country has from the lack of new wells to come
online over the last decade. We look forward to seeing the progress
and results made by NZEC with the drilling of Tariki-5
gas."
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 sector. The Company has an option to
acquire a 75% interest and title to the Laguna cesium-lithium brine
project located in Chile. The
Company holds a 2% net smelter return royalty on Summit Nanotech's
share of any future lithium production from the Salar de Turi
Project, Chile. The Company owns
securities of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ "Michelle DeCecco"
Michelle DeCecco, CEO
Contact Information:
Michelle DeCecco, Chief Executive
Officer and Director
Email:
michelle@monumental.energy
Or
Maximilian Sali, VP
Corporate Development and Director
Email: max@monumental.energy
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, the planned visit to New Zealand for due diligence and site visits
of potential oil and gas opportunities, potential oil and gas
transactions with NZEC, 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, 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.
SOURCE Monumental Minerals Corp.
