TICKER: NZ:TSX.V; NZERF:OTCQX
New Zealand Energy Corp. is an oil and natural gas company engaged in the exploration, development and production of petroleum and natural gas assets in New Zealand. The company's property portfolio collectively covers nearly two million acres of conventional and unconventional prospects in New Zealand's North Island. Its management team has decades of experience exploring and developing oil and natural gas fields in both New Zealand and Canada, with a track record of successful discoveries.
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
David Buma, M Partners
"We continue to rate New Zealand Energy Corp. shares Buy with a one-year price target of $1. . .we highlight the material growth expected out of the Taranaki over the medium term combined with the potential upside offered by the East Coast Basin. Near-term catalysts include progress in identifying the production issues, conclusion of the Origin deal and its related funding, and increased interest in the East Coast as industry activity has commenced in the region with TAG Oil Ltd. spudding its first well there earlier this week."
David Dudlyke, Dundee Securities
"It is worth pointing out that New Zealand Energy Corp., at an enterprise value of some $45M (versus TAG Oil Ltd. at $264M) clearly offers superior leverage to any future exploration success in the East Coast basin. By way of context, New Zealand Energy holds a larger acreage position and almost twice the unrisked unconventional prospective resource within New Zealand's East Coast Basin than that of TAG Oil."
David Popowich, Macquarie Capital Markets
"New Zealand Energy Corp. has been swab testing the Arakamu-2 well for a period of 13 days, recovering a total of 407 bbl 42░ API oil; while the simple headline test rate (approximately 30 bblpd oil) appears underwhelming, the company is optimistic this will improve on pump. Nevertheless, with an oil cut of just 20%, even the ability to pump 500 bblpd total fluid would imply initial oil production of ~100 bblpd."
David Buma, M Partners
"New Zealand Energy Corp. announced yesterday that workover efforts at Arakamu-2 were successful. . .this well does represent the company's sixth oil discovery in the Taranaki Basin. . .cash flow generation is not expected until the pump is installed, potentially in late Q2/13. . .we continue to rate New Zealand Energy shares a Buy, based on the material growth expected out of the Taranaki over the medium term combined with the potential upside offered by the East Coast Basin, where industry activity is set to begin as early as this month."
Deborah Bacal, Proactive Investors
"New Zealand Energy Corp. has made its sixth oil discovery in the Taranaki Basin, showing what the company called a strong inflow of oil, gas and water. The junior oil and gas producer started testing the Arakamu-2 well in the middle of last month. . .last week, in a step forward, the company announced that it received approval from New Zealand's Overseas Investment Office to obtain the Waihapa Production Station site, putting it one step closer to completing its acquisition of assets from Origin Energy. . .it expects to meet all conditions in order to conclude the transaction in the second quarter of this year."
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