Monumental Energy Reports Initial Flush Production of 3000 Barrels and a Stable Unstimulated Flow Rate of 300 Barrels a Day at Ngaere-2

Monumental Energy Corp has reported strong initial production results from its Ngaere-2 well in New Zealand's onshore Taranaki Basin, marking another successful addition to the company's growing production portfolio. The well achieved a stable unstimulated flow rate of 300 barrels per day following initial flush production of 3,000 barrels, performance that CEO Maximilian Sali described as exceeding expectations.

The Ngaere-2 well is strategically located within a 4km radius of the company's other online production wells and near the Waihapa production facility, providing operational synergies and infrastructure advantages. With this addition, Monumental now has four wells online including Copper Moki-1, Ngaere-1, Ngaere-2, and Waihapa H1. The company is currently constraining production through choke management to maintain stable flow rates while exploring ways to increase daily production capacity.

The success comes at an opportune time as stronger-than-forecast oil prices create favorable economic conditions for the company's expansion plans. Monumental, working with operator NZEC and co-venturer L&M, estimates that combined production of 1,000 barrels of oil equivalent per day is achievable across the portfolio. Six additional wells are already permitted and in the pipeline, representing significant near-term production growth potential.

This production update reinforces Monumental's strategic positioning in New Zealand's energy sector through its funding agreement with New Zealand Energy Corp, which enables participation in appraisal and development workover projects across Petroleum Mining Licences PML 38140 and PML 38141. The company's diversified energy portfolio also includes exposure to critical minerals through a royalty interest in Summit Nanotech's lithium project in Chile, positioning it well for the evolving energy transition landscape.