New Zealand Energy Corp. Reports Earnings Results for the First Quarter Ended March 31, 2023

New Zealand Energy Corp. is a New Zealand-based company, which is an oil and gas producer. The Company, through its subsidiaries, is engaged in the exploration, appraisal, development and production of oil and natural gas, as well as the operation of midstream assets, in New Zealand. The Company conducts its business as a single segment being the acquisition, exploration, appraisal, development and production of conventional oil and natural gas resources in New Zealand. The Company’s geographic segment is New Zealand. The Company produces petroleum from Waihapa and Ngaere wells in the TWN Petroleum Mining Licences and from the Copper Moki wells in the Copper Moki Mining Permit. The Waihapa Ngaere wells produce oil and gas from the fractured Oligocene Tikorangi Limestone at a depth of approximately 2700 meters.