New Zealand Energy Corp. ("NZEC" or the "Company"), an oil and natural gas
company with exploration and development prospects in New Zealand, has completed
its Copper Moki-1 well and initiated the steps to obtain a mining permit to
achieve long-term production.


NZEC's 100%-owned Copper Moki-1 well production tested the Mt. Messenger
formation over a 48-hour period and flowed 41.8 API(1) oil at a consistent rate
of 1,100 barrels per day along with 855 mcf(2) per day of natural gas. Pressure
recorders have been run for an extended build-up and the well will be placed on
an extended production test to determine the reservoir size and flow conditions.
Copper Moki-1 is well positioned in close proximity to oil and gas
infrastructure, including production stations and oil and gas pipelines. NZEC
has entered into a contract whereby its test volumes of oil will be sold at a
premium to the Brent reference price(3).


"Our team is working to advance Copper Moki-1 into production while continuing
our aggressive exploration program to test additional targets," said Bruce
McIntyre, President of NZEC. "We will continue to explore in the Copper Moki
area and initiate testing of the extensive shale formations on our East Coast
permits, and look forward to reporting the results of our efforts as the
projects advance." 


The Copper Moki-1 well was completed in three sands over an interval of 12.2
metres within the Mt. Messenger Formation, a thick sequence of turbidite
sandstones at a depth of approximately 1,800 metres in New Zealand's Taranaki
Basin. NZEC also perforated and tested a portion of the shallower Urenui
Formation in the Copper Moki-1 well. While preliminary results from the Urenui
Formation show the potential for oil and gas production, NZEC has suspended the
Urenui zone for the near-term to focus on oil production from the Mt. Messenger
Formation.


About New Zealand Energy

NZEC is an oil and natural gas company engaged in the exploration, acquisition
and development of petroleum and natural gas assets in New Zealand. NZEC's
property portfolio collectively covers nearly two million acres in the Taranaki
Basin and East Coast Basin of New Zealand's North Island. NZEC holds two
petroleum exploration permits (Eltham Permit and Castlepoint Permit) and a 50%
interest in a petroleum exploration permit (Alton Permit, pending completion of
certain conditions), one pending petroleum exploration permit pursuant to an
assignment agreement (Ranui Permit), and one pending non-competitive petroleum
exploration permit application (East Cape Permit).


The Company's management team has extensive experience exploring and developing
oil and natural gas fields in New Zealand and Canada, and takes a
multi-disciplinary approach to value creation with a track record of successful
discoveries. NZEC plans to add shareholder value by executing a technically
disciplined exploration program focusing on the discovery of onshore and
offshore oil and natural gas resources in the politically and fiscally stable
country of New Zealand. The Company's strategy is to develop its existing
portfolio of assets and to pursue further exploration opportunities in other
areas with proven hydrocarbon systems. NZEC will continue to evaluate strategic
acquisitions from time to time where it views further exploration and
development opportunities exist, and may participate in future tenders offered
by the Government of New Zealand to acquire additional petroleum exploration
permits or petroleum mining permits.


On behalf of the Board of New Zealand Energy Corp.

Bruce McIntyre, President and Director 

Forward-looking Statements

This news release 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 "initiated", "will be", "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,
including without limitation, 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 cots 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 discussed under "Risk Factors" in NZEC's
Prospectus dated July 19, 2011. NZEC 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. Such forward-looking
statements included in this news release should not be unduly relied upon. These
statements speak only as of the date of this news release and NZEC does not
undertake to update any forward-looking statements that are contained in this
news release, except in accordance with applicable securities laws. In addition,
this news release may contain forward-looking statements attributed to
third-party industry sources.


(1) American Petroleum Institute

(2) Thousand cubic feet

(3) The reference against which two thirds of the world's internationally traded
crude oil supplies are priced.
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