MONUMENTAL ENERGY ANNOUNCES PERFORATIONS HAVE COMMENCED AT THE WAIHAPA H1 WELL

Monumental Energy Corp. has initiated perforation operations at the Waihapa H1 well in New Zealand's onshore Taranaki Basin, marking the second phase of its partnership with New Zealand Energy Corp. and L&M Energy Ltd. The operations crew has been mobilized from the recently successful Ngaere-1 well to commence work on Waihapa H1, located just a few kilometres away within the same petroleum mining licences.

The Waihapa H1 well represents a compelling recompletion opportunity, having been drilled in 2008 and previously producing significant oil rates exceeding 1500 barrels per day from the lower Tikorangi formation. The current program targets 60 meters of prospective "bypass pay" in the Mount Messenger formation, the same productive zone successfully perforated at Ngaere-1. Seven 6-meter perforations are planned over the course of the week, with immediate flow testing to follow.

The strategic significance of this development extends beyond the individual well performance. The Mount Messenger formation is the primary producing zone in the adjacent Cheal oil field, which has delivered approximately 12 million barrels of oil from a relatively compact area. The Waihapa H1 well benefits from proximity to existing production infrastructure, sitting within sight of the Waihapa production facility, enabling direct connection of associated gas for immediate processing and production.

The economic environment further enhances the project's attractiveness, with New Zealand natural gas prices currently ranging from US$10 to US$15 per MCF, representing one of the highest gas price environments globally. Following completion of Waihapa H1 operations, the partnership plans to advance similar perforation work at the Ngaere-2 well, potentially demonstrating broader Mount Messenger formation productivity across the permit area and supporting near-term production growth for the joint venture.