New Zealand Energy Announces Release of the Company First Quarter Results

WELLINGTON, NEW ZEALAND / ACCESSWIRE / May 29, 2015 / New Zealand Energy Corp. (TSX VENTURE: NZ) (OTCQX: NZERF) (“NZEC” or the “Company”) has released the results of its first quarter ended March 31, 2015. Details of the Company’s financial results are described in the Unaudited Consolidated Interim Financial Statements for the period ended March 31, 2015 and Management’s Discussion and Analysis which are available on the Company’s website at www.newzealandenergy.com and on SEDAR at www.sedar.com.

The net loss for the three-month period ended March 31, 2015 was $1,179,930 compared with a loss for the first quarter of 2014 of $2,022,722. The Company realized a loss per share for the three-month period ended March 31, 2015 of $0.01.

The Company has recorded revenues in the Financial Statements for the period (on a like for like basis) of $1,196,477(on production of 12,595 barrels) compared with $2,241,372 (on production of 19,682 barrels, excluding sales of purchased oil and condensate) for the corresponding three month period ended March 31, 2014.

As at 31 March 2015, the Company has recorded an increase in Shareholders equity to $25.58 Million compared with the Shareholders equity balance of $23.77 Million at 31 December 2014.

On behalf of the Board of Directors

“James Willis”

Chairman

New Zealand Energy Corp.

New Zealand Energy Contacts

Email: info@newzealandenergy.com
Website: www.newzealandenergy.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD–LOOKING INFORMATION AND CAUTIONARY NOTE REGARDING RESERVE ESTIMATES

This document, the unaudited consolidated interim financial statements for the period ended March 31, 2015 and Management’s Discussion and Analysis contain certain forward- looking information, forward-looking statements (“forward-looking statements”). The reader’s attention is specifically drawn to the qualifications, disclosure and cautionary statements in these documents regarding forward-looking statements and reserve and resource estimates.

The Company notes that such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond NZEC’s control, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information.

As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. All forward-looking statements are made as of the date of this document or the date of the documents referenced above, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: New Zealand Energy Corp.

ReleaseID: 429365