New Zealand Energy Announces First Quarter Results and Operational Update

June 3, 2014

New Zealand Energy Corp. has released the results of its first quarter ended March 31, 2014. Details of the Company’s financial results are described in the Unaudited Consolidated Interim Financial Statements and Management’s Discussion and Analysis which, together with further details on the Company’s operational activities, are available on the Company’s website at and on SEDAR at All amounts are in Canadian dollars unless otherwise stated.


  • 19,682 barrels of oil produced and 17,630 barrels of oil sold during Q1-2014 (Q1-2013: 30,179 and 27,246, respectively)
  • Average corporate production during Q1-2014: 219 barrels/day (net to NZEC)
  • Average field netback during Q1-2014 of $62.33 per barrel (Q1-2013: $45.29 per barrel)
  • Total oil sales recorded during Q1-2014 of $2,100,545 (Q1-2013: $3,061,064), with an additional $362,459 of third-party revenue (net to NZEC) earned through the Waihapa Production Station (Q1-2013: $nil)
  • New arrangement with gas marketing counterparty commenced May 5, 2014, expected to generate between NZ$250,000 and NZ$1 million revenue per year (net to NZEC)
  • Generated total net proceeds of approximately NZ$1.47 million through disposal of non-core assets subsequent to March 31, 2014
  • Production during May 2014 averaged 201 barrels/day net to NZEC. See Figure 1 for current status of producing wells and anticipated near-term activities

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    Jun 04, 2014 04:43 AM


    You don’t think Obama is Islamic?

    Listen to his own words:

    Jun 04, 2014 04:49 AM

    Not related to New Zealand Energy:

    In case anyone is having a good day and you need something to piss you off, this video is doing the trick for me, and I’m only 20 minutes into it.

    Peak Oil and the Infinite .. blah blah blah .. June 1, 2014

    -personal opinion on Michael C. Ruppert’s suicide:
    If someone as concerned about the environment as Michael was, for god’s sake, don’t lock your dog in the car, put a bullet through your brain, and let someone else clean up the mess. Instead, jump off a high cliff somewhere where coyotes, vultures, sharks, or whatever will dispose of your sorry remains.

    Jun 04, 2014 04:35 AM

    Sorry, Irwin, but I turned on the radio when I got up this morning and there was a news item on Obama in Poland Bergdahl that immediately set my bad mood for the day. Did not mean to depress you.

    Jun 04, 2014 04:39 AM

    Neat youtube, Irwin, I did not know Greece had put some beaches and Islands up for sale.

    Jun 04, 2014 04:52 AM

    She;s made two mistakes so far:
    China is also buying resources as well as gold.
    She has omitted consideration of nuclear power; both breeder reactors and possibly fusion