NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS


New Zealand Energy Corp. (TSX VENTURE:NZ)(OTCQX:NZERF) ("NZEC" or the "Company")
has received a receipt from the British Columbia Securities Commission for the
Company's short form prospectus, filed in relation to the recently completed
non-brokered private placement that raised gross proceeds of $16.1 million.
Shares related to the private placement will be free trading on November 21.


The Company issued 48.9 million subscription receipts ("Subscription Receipts")
at a price of $0.33 per Subscription Receipt. On November 21 the Subscription
Receipts will convert into units (the "Units"), consisting of one common share
(a "Share") and one-half of one non-transferable share purchase warrant (each
whole warrant referred to as a "Warrant") of the Company. Each Warrant will
entitle the holder to acquire one Share at a price of $0.45 with an expiry date
of October 28, 2014. The Company also issued three million finder's special
warrants, which will convert into finder's warrants on November 21, each
entitling the finder to acquire one Share at a price of $0.33 with an expiry
date of October 28, 2014. 


The securities offered have not been and will not be registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or applicable exemption from the registration
requirements. This news release does not constitute an offer to sell or the
solicitation of any offer to buy nor will there be any sale of these securities
in any province, state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such province, state or jurisdiction.


Investors can request a copy of the prospectus by emailing
info@newzealandenergy.com or can download the prospectus from SEDAR at
www.sedar.com. 


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.


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 the word "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 timing related to
issuance of shares and warrants. Actual results could differ materially from
those anticipated in these forward-looking statements as a result of the risk
factors set forth in the Company's preliminary prospectus and documents
incorporated by reference in the preliminary prospectus. The forward-looking
statements contained in the document are expressly qualified by this cautionary
statement. These statements speak only as of the date of this document and the
Company does not undertake to update any forward-looking statements that are
contained in this document, except in accordance with applicable securities
laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
New Zealand Energy Contacts
North American toll-free: 1-855-630-8997
John Proust - Chief Executive Officer & Director
Bruce McIntyre - Executive Director
Rhylin Bailie - Vice President Communications &
Investor Relations


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