Business Wire·Mar 10, 2026, 7:00 AM ET

Monumental Energy Announces Perforations Have Commenced at the Waihapa H1 Well

Monumental Energy Corp. has mobilized its operations crew from the Ngaere-1 well to the Waihapa H1 well in the onshore Taranaki Basin, New Zealand, in partnership with New Zealand Energy Corp. & L&M Energy Ltd.
The Partnership targets the Waihapa H1 well, which produced over 1,500 barrels per day in 2008 & currently has 60 meters of prospective bypass pay identified in the Mount Messenger formation.
Seven 6-meter perforations are being performed at Waihapa H1 this week, with flow testing to begin immediately & results to be released upon completion.
The Mount Messenger formation is the primary zone in the adjacent Cheal oil field, which has produced approximately 12 million barrels of oil.
The Waihapa H1 well is located within sight of the Waihapa production facility, allowing direct connection for gas processing amidst New Zealand gas prices ranging from US$10 to US$15 per MCF.
Following Waihapa H1, the Partnership intends to proceed with perforation operations at the Ngaere-2 well next week if no delays occur.
Michelle DeCecco resigned as CEO effective March 9, 2026, & Max Sali, a board member & VP Corporate Development, was appointed as the new CEO.
Ms. DeCecco will remain on the board of directors while Max Sali signs the release on behalf of the Board.
Monumental Energy Corp. focuses on oil & gas development in New Zealand's Taranaki Basin & holds exposure to the critical minerals sector via a royalty on Summit Nanotech's lithium project in Chile.