NZ New Zealand Energy Corp

New Zealand Energy Corp. (TSX VENTURE:NZ)(OTCQX:NZERF) ("NZEC" or the "Company")
today announced that it has received approval from New Zealand Petroleum &
Minerals ("NZPAM") to extend the Alton Permit (Petroleum Exploration Permit
51151) for a second five-year term. 


NZEC owns a 65% interest and is operator of the Alton Permit, through its
subsidiary Taranaki Ventures II Limited. NZEC is exploring the permit in a joint
arrangement with L&M Energy Limited ("L&M"). NZEC and L&M have received NZPAM
approval to extend the exploration term of the permit to September 23, 2018.
Concurrent with the extension, NZEC and L&M have relinquished 50% of the Alton
Permit. The new permit area comprises 59,565 acres (241.052 km2), bringing
NZEC's Taranaki Basin portfolio to 159,864 net acres (646.9 km2) (Figure 1).


The joint venture partners also received an extension to their obligation to
drill the Horoi commitment well, along with approval of a new work program for
the Alton Permit. The new work program requires NZEC to drill two exploration
wells, process 20 km2 of 3D seismic and 20 line km of 2D seismic, and complete a
number of technical studies and reports. NZEC plans to drill the first
commitment well - the Horoi well - into a Mt. Messenger target commencing in
late February 2014. 


Eltham Permit

In June 2013, NZEC lodged an application with NZPAM to convert 4,628 acres
(18.73 km2) on its 100%-owned Eltham Permit into a Petroleum Mining Permit
("PMP") with an initial duration of 15 years. The land included in the PMP
application comprises the Copper Moki field and surrounding acreage with
petroleum discoveries. Once the request has been reviewed and approved, NZEC
will relinquish 50% of the remainder of the Eltham Permit (which will have been
reduced by the area converted to a PMP) as part of the Company's application to
extend the permit for its second five-year term to September 2018.


Castlepoint Permit

NZEC has also applied for an amendment to the work program requirements for its
100%-owned Castlepoint Permit in the East Coast Basin. The current work program
requires the Company to drill an exploration well in Q4-2013. The Company has
initiated the community engagement and technical assessments required to obtain
land access agreements and consents for the selected drill location, and has
requested an extension for the drilling commitment into the first half of 2014.


To view Figure 1 - NZEC's Taranaki Basin Permits and Infrastructure, please
click the following link: http://media3.marketwire.com/docs/TWN47nov2013.jpg


On behalf of the Board of Directors

John Proust, Chief Executive Officer & Director 

About New Zealand Energy Corp.

NZEC is an oil and natural gas company engaged in the production, development
and exploration of petroleum and natural gas assets in New Zealand. NZEC's
property portfolio collectively covers approximately 2.25 million acres
(including permits and acquisitions pending) of conventional and unconventional
prospects in the Taranaki Basin and East Coast Basin of New Zealand's North
Island. The Company's management team has extensive experience exploring and
developing oil and natural gas fields in New Zealand and Canada. NZEC plans to
add shareholder value by executing a technically disciplined exploration and
development program focused on the onshore and offshore oil and natural gas
resources in the politically and fiscally stable country of New Zealand. NZEC is
listed on the TSX Venture Exchange under the symbol "NZ" and on the OTCQX
International under the symbol "NZERF". More information is available at
www.newzealandenergy.com or by emailing info@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

This document contains certain forward-looking information and forward-looking
statements within the meaning of applicable securities legislation (collectively
"forward-looking statements"). The use of any of the words "will" and similar
expressions are intended to identify forward-looking statements. These
statements involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those anticipated
in such forward-looking statements. Such forward-looking statements should not
be unduly relied upon. The Company believes the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct. This document contains
forward-looking statements and assumptions pertaining to the following: business
strategy, strength and focus; the granting of regulatory approvals; and the
timing for receipt of regulatory approvals;. Actual results could differ
materially from those anticipated in these forward-looking statements as a
result of the risk factors set forth below and elsewhere in the document, such
as the speculative nature of exploration, appraisal and development of oil and
natural gas properties; uncertainties associated with estimating oil and natural
gas resources; changes in the cost of operations, including costs of extracting
and delivering oil and natural gas to market, that affect potential
profitability of oil and natural gas exploration; operating hazards and risks
inherent in oil and natural gas operations; volatility in market prices for oil
and natural gas; market conditions that prevent the Company from raising the
funds necessary for exploration and development on acceptable terms or at all;
global financial market events that cause significant volatility in commodity
prices; unexpected costs or liabilities for environmental matters; competition
for, among other things, capital, acquisitions of resources, skilled personnel,
and access to equipment and services required for exploration, development and
production; changes in exchange rates, laws of New Zealand or laws of Canada
affecting foreign trade, taxation and investment; failure to realize the
anticipated benefits of acquisitions; and other factors. Readers are cautioned
that the foregoing list of factors is not exhaustive. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
New Zealand Energy Corp.
John Proust
Chief Executive Officer & Director
North American Toll-Free: 1-855-630-8997


New Zealand Energy Corp.
Bruce McIntyre
Executive Director
North American Toll-Free: 1-855-630-8997


New Zealand Energy Corp.
Rhylin Bailie
Vice President Communications & Investor Relations
North American Toll-Free: 1-855-630-8997


New Zealand Energy Corp.
Chris Bush
New Zealand Country Manager
New Zealand: 64-6-757-4470
info@newzealandenergy.com
www.newzealandenergy.com

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