Business Wire·Oct 14, 2026, 5:00 AM ET

Monumental Energy to Partner on the Maata Oil Field Located Onshore in the Taranaki Region Near Two Production Facilities

Monumental Energy Corp. intends to acquire an ownership stake in the onshore Maata oil field via a consortium including Jetex Energy (operator), New Zealand Energy Corp., and 3TCF Limited.
The Maata Prospect is mapped as the largest Mount Messenger sandstone target in a proven Taranaki Basin oil play, with nearby fields having produced tens of millions of barrels.
Monumental anticipates Maata-1 drilling will commence in Q1 2027, subject to finalizing joint-venture agreements and obtaining New Zealand government regulatory approvals.
The company estimates the Maata-1 well could establish a new field with reserve potential exceeding 10 million barrels of oil plus associated gas.
If successful, production can be linked to the nearby Waihapa Production Station for transport via existing pipelines.
Monumental's proprietary "Organic Crude Oil Stabilizer" equipment will be shipped from Texas to New Zealand within the month to address wax issues & improve flow rates.
The company & NZEC are also applying to extend the Ngaere Mining License westwards to incorporate the Beaconsfield Prospect.
Current operations require finalization of ownership percentages, capital requirements, TSX Venture Exchange approvals, & NZ Petroleum & Minerals permits before the joint venture is active.