Companies

Request More Information

Last:
Change: Change(%):
Volume: Open:
High: Low:
52Wk High: 52Wk Low:

Experts Commenting on This Company

 

Visit Company Website

View Company News



New Zealand Energy Corp.

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.

Expert Comments:

David Buma, M Partners (12/1/14) "New Zealand Energy Corp.'s Q3/14 sales averaged 179 boe/d versus our 195 boe/d estimate and 224 boe/d in Q2/14. Production averaged 203 boe/d, down from 210 boe/d in Q2/14. . .netback of $71.04/bbl was ahead of our $65.30 estimate as a result of lower than expected royalties and operating costs. . .the company will be closing its Vancouver office at year-end. . .we estimate this could result in savings of approximately $650K per year. . .as expected, cash flow per share was essentially breakeven. . .with limited available capital, we expect the near-term focus to be on reactivations and up-hole completions."

David Buma, M Partners (11/5/14) "At Waihapa-2, New Zealand Energy Corp. successfully completed a workover. . .production is expected to begin in early December. . .a one-year extension has been granted to the company to drill the Horoi target. . .we continue to rate the shares Buy."

M Partners (10/20/14) "New Zealand Energy Corp. recently secured a $4.5M credit facility with TWN joint venture partner New Dawn Energy Ltd. (private) with the proceeds to be directed toward development work there. Workover activity on Waihapa-2 is set to begin shortly with first production expected by year-end. . .we continue to rate New Zealand Energy a Buy."

David Buma, M Partners (10/3/14) "New Zealand Energy Corp.'s September production is steady. . .it remains below the ~250 bpd break-even level; however the company's capital constraints have been alleviated. The company announced last week it had secured a ~$4.5M (NZ$5M) credit facility agreement with joint venture partner New Dawn Energy. The purpose of these funds is to advance the TWN development program. . .we continue to rate the shares Buy with a one-year price target of $0.20/share."

David Buma, M Partners (9/25/14) "New Zealand Energy Corp. announced yesterday it has secured a ~$4.5M (NZ$5M) credit facility agreement with New Dawn Energy Ltd. . .we view the additional funding positively. . .with the first tranche of capital now in place, work can begin on the various development initiatives at TWN; we would expect early results to be evident before year-end. Beyond this, we highlight the potential for some form of farm-out agreement relating to its higher impact projects or the drilling of the Alton commitment well (potentially Q1/15)."

more comments

David Buma, M Partners (9/3/14) "New Zealand Energy Corp.'s sales averaged 224 bbl/d in Q2/14, ahead of our 212 bblpd estimate and 196 bblpd in Q1/14. . .we continue to rate the shares Buy."

David Buma, M Partners (8/7/14) "We continue to rate the shares of New Zealand Energy Corp. Buy. . .our $0.20 target is supported by the company's 2PNAV10AT of $0.34/share, the midstream assets (at least $0.05/share) and the exploration potential of both the Taranaki and East Coast."

David Buma, M Partners (7/4/14) "Since the acquisition of the Waihapa production station late last year, New Zealand Energy Corp. has generated approximately $1M in third-party service revenue. Starting in May, the company also began to deliver on a long-term gas transportation contract with annual revenue potential of between $0.2–1M; by July, proceeds are expected to begin flowing to the company as the related capital contribution will have been paid up. . .we continue to highlight the upside potential of the company's asset base over the medium term between the 2PNAV10AT of $0.34/share, midstream assets (at least $0.05/share) and the exploration potential both in the Taranaki and the East Coast."

David Buma, M Partners (6/2/14) "We continue to highlight the upside potential of New Zealand Energy Corp.'s asset base over the medium term between the 2PNAV10AT of $0.34/share, midstream assets (at least $0.05/share) and the exploration potential both in the Taranaki and the East Coast."

David Buma, M Partners (5/2/14) "Despite the steady slippage in timing, we continue to believe New Zealand Energy Corp.'s underlying assets do host significant upside potential over the medium term, most notably in the East Coast Basin where industry activity is set to resume in the coming months that could begin to derisk the play."

A. Simmons, J. Hayek, B. Whitehead, Digging Through the Dirt (5/2/14) "This morning New Zealand Energy Corp. announced its year-end and Q4/13 results and an operational update. . .production for the month of April has dropped from the previous month, from 233 bpd net to 228 bpd net. . .the company cites that two wells were taken offline mid-month to allow for full evaluation of Toko-2B."

David Buma, M Partners (4/3/14) "New Zealand Energy Corp.'s Toko-2B will be the first Tikorangi well of the program to have a high-volume lift installed, targeting production of 135 boepd; six other Tikorangi wells have been reactivated. . .Waihapa-2 will be the first uphole completion of the program, targeting 150 boepd. Management has identified a number of uphole candidates. . .should those wells come online, we note the company could be producing 500–550 boepd by the end of April."

Christopher Brown, Canaccord Genuity (4/2/14) "New Zealand Energy Corp., following its acquisition of Origin Energy Ltd., announced 1.65 MMboe of 2P reserves (77% oil and natural gas liquids), which is a 145% increase over its 2012 year-end reserves. The associated value for the updated 2013 2P reserves (after tax discounted at 10%) was approximately $58M or $0.28/share on a fully diluted share basis."

Bill Newman, Mackie Research Capital (4/2/14) "New Zealand Energy Corp.'s production has grown steadily over Q1/14, and we expect production to continue increasing through Q2/14 as Waihapa-2 and Toko-2B commence production in April following well workovers. The company's primary focus is on building low-cost, low-risk production from well workovers, completions and development drilling in the Taranaki basin; we believe production growth from the Taranaki basin and appraisal of resources in the shales in the East Coast basin provide upside for the stock in 2014."

David Buma, M Partners (3/5/14) "New Zealand Energy Corp.'s total production averaged 228 bpd in February, up slightly from an average rate of 202 bpd in January. . .production does not include any benefit from Waitapu-2. . .we continue to rate the shares Buy. . .we highlight the current valuation, the return to production growth, now underway and the enormous unconventional potential of the East Coast basin."

Bill Newman, Mackie Research Capital (3/4/14) "New Zealand Energy Corp. continues with operations as expected. In the near term, we expect production add-ons from two Waihapa wells. The company's primary focus is on building low-risk production from well workovers, completions and development drilling in the Taranaki Basin. . .as production grows from the Taranaki Basin and resources are proved with an appraisal program in the Waipawa and Whangai shales in the East Coast Basin, it leaves much upside for the stock in 2014."

David Buma, M Partners (2/5/14) "New Zealand Energy Corp. provided its monthly update yesterday as it pushes ahead with an active Taranaki basin work program. . .production is moving incrementally higher. . .the company noted five additional wells are expected to contribute to production over the next four months. . .we continue to rate the shares Buy."

Bill Newman, Mackie Research Capital (2/4/14) "Over the past 185 days, New Zealand Energy Corp.'s oil production averaged 220 bpd and started February with an average 284 bpd, in line with our current estimates. . .five wells are to add to current production over the next four months. . .the company has realized some important operational efficiencies within the past couple of months, resulting in reduced costs."

Christopher Brown, Canaccord Genuity (1/14/14) "At current prices, we believe New Zealand Energy Corp.'s upside potential outweighs its downside risks. As such, we are upgrading from Hold to Speculative Buy."

David Buma, M Partners (1/7/14) "New Zealand Energy Corp. provided an update yesterday, including progress on its TWN work program in the Taranaki Basin. We highlight: Six reactivated wells averaged 151 bbl/d (net) in December. . .and that the first TWN recompletion has been successful. . .we continue to rate the shares Buy. . .we highlight the valuation, the return to production growth through an active development program now underway and the enormous unconventional potential of the East Coast Basin."

Alan Knowles, Haywood Securities (12/13/13) "New Zealand Energy Corp. has reported that all six Tikorangi wells have been reactivated and the company is monitoring the results. . .we expect a further update on Tikorangi and other well results in early January. The level of production, following the initial flush levels from the six Tikorangi reactivations, will be a key factor wth respect to New Zealand Energy's 2014 production and cash flow."

David Buma, M Partners (12/3/13) "New Zealand Energy Energy Corp. provided an update yesterday on the reactivation of six wells on its newly acquired TWN licenses in the Taranaki basin. Early indications are positive, with stabilized production from the first two wells coming in ahead of the 120 boepd targeted from the full six-well program. . .we continue to rate the shares Buy."

Bill Newman, Mackie Research Capital (12/3/13) "New Zealand Energy Corp. has reactivated six Tikorangi oil wells on its newly acquired TWN licenses. . .with the initial oil production from two of the six Tikorangi wells, we estimate net production has increased to ~345 boepd. We expect additional production will be added prior to year-end with volumes from the remaining four Tikorangi wells and the one Mt. Messenger completion."

Alan Knowles, Haywood Securities (12/2/13) "Initial results from two of New Zealand Energy Corp.'s six Tikorangi wells are positive. . .we expect a further update on the Tikorangi and other well results in late December."

Bill Newman, Mackie Research Capital (11/28/13) "New Zealand Energy Corp.'s average Q3/13 sales production of 159 bblpd was in line with our forecast of 150 bblpd. . .as of Nov. 27, 2013, estimated net positive working capital is ~$6M. . .initial flush oil production rates from the reactivation of the six Tikorangi wells could provide a near-term catalyst for the stock."

(11/8/13) "New Zealand Energy Corp. and partner L&M Energy Ltd. received approval to extend the exploration term on the Alton permit to September 2018. . .we continue to rate the shares Buy. . .we highlight the near-term return to production growth, the funded work program over the next 12 months and the enormous unconventional potential of the East Coast basin."

David Popowich, Macquarie Equity Research (10/30/13) "New Zealand Energy Corp. has closed the acquisition of upstream and midstream assets from Origin Energy. . .the company has also closed a CA$16.M private placement, of which CA$7.9M will be applied to the purchase price of the Origin assets. . .the next step will be to commence a six-well workover program on the Origin assets, with a view to ramping up production and cash flow immediately. . .development of the new assets is expected to commence immediately, which means production should begin to ramp up again (albeit modestly) by year-end."

Christopher Brown, Canaccord Genuity (10/29/13) "New Zealand Energy Corp. announced that it has closed its Origin acquisition and completed its non-brokered private placement of $16.1M. . .New Zealand now owns a 50% interest in the Tarik, Waihapa and Ngaere petroleum mining licenses in the Taranaki basin. The company should now be able to book incremental reserves of approximately 1.1 MMboe, with an estimated before-tax value of $31.4M (at a 10% discount rate). . .we believe this acquisition, which should provide reserves of 1.1 MMboe with significant prospective resource upside, was a major hurdle for the company; we view the closing of the acquisition positively."

Christopher Brown, Canaccord Genuity (10/29/13) "New Zealand Energy Corp. announced that it has closed its Origin acquisition and completed its non-brokered private placement of $16.1M. . .New Zealand now owns a 50% interest in the Tarik, Waihapa and Ngaere petroleum mining licences in the Taranaki basin. The company should now be able to book incremental reserves of approximately 1.1 MMboe, with an estimated before-tax value of$31.4M (at a 10% discount rate). . .we believe this acquisition, which should provide reserves of 1.1 MMboe with significant prospective resource upside, was a major hurdle for the company; we view the closing of the acquisition positively."

Bill Newman, Mackie Research Capital (10/29/13) "New Zealand Energy Corp. announced that it has closed a $16.1M private placement (oversubscribed) and has completed the Origin Energy Ltd. assets acquisition. . .in the Oct. 1, 2013 press release, the company announced that it raised $7.9M, which was enough capital to close the acquisition. Subsequently, New Zealand Energy raised an additional $8.2M, which will allow it to quickly build production and cash flow through the exploitation of the low-hanging fruit associated with the acquisition."

David Buma, M Partners (10/29/13) "New Zealand Energy Corp. announced its deal with Origin Energy Ltd. has now closed. . .the company also announced a successful follow-up capital raise of $8.2M. . .we have increased our one-year price target to $0.75 from $0.70. . .we continue to rate the shares Buy."

Bill Newman, Mackie Research Capital (10/18/13) "New Zealand Energy Corp. announced that is has received government approval for the acquisition of a 50% interest in three production licenses, the Waihapa production station and 100km of oil and gas pipelines in the Taranaki Basin in New Zealand. . .the impact is positive; the company can now focus on growing oil and gas production. The Waihapa production station (50% working interest) is a large facility with the capacity to process 25 MMbbl/d oil, 45 MMcf/d natural gas and will allow the company to process all of its oil and natural gas production as well as third party production, which could generate additional cash flow and improve netbacks through reduced operating expenses. . .we maintain our Speculative Buy."

David Buma, M Partners (10/1/13) "New Zealand Energy Corp. announced it has met the funding condition regarding its asset purchase from Origin Energy Resources Ltd. . .the company continues to work toward closing a second tranche with the objective of raising up to an additional $7.1M to fund its near-term work program. The final condition of the acquisition is New Zealand government approval, potentially within the next few weeks, at which time the funds raised will be released from escrow. . .we continue to rate the shares Buy."

Bill Newman, Mackie Research Capital (10/1/13) "New Zealand Energy Corp. announced that it has closed on $7.9M of the proposed $15M private placement, which is enough capital to fulfill the finance condition precedent required to proceed with the Origin asset acquisition consisting of three production licenses (Waihapa Blocks), the Waihapa production station and 10 km of oil and gas pipelines in the Taranaki Basin in New Zealand. . .the news is positive; a critical acquisition will close."

David Buma, M Partners (9/20/13) "New Zealand Energy Corp. announced yesterday the terms of a nonbrokered private placement of up to $15M. . .the equity raise comes as the company pushes to raise at least the $12M required to adequately fund the Origin deal by the Sept. 30 deadline. . .upon closing of the Origin deal, work is set to ramp up. . .we highlight New Zealand Energy's current valuation (2.3x 2014E EBITDA versus its comps at 3.1x), the expected return to production growth later this year and the enormous unconventional potential offered by the East Coast Basin."

David Buma, M Partners (8/30/13) "New Zealand Energy Corp. reported averaged sales of 241 bbl/d in the quarter, in line with our 229 bbl/d estimates. . .the company is pushing to raise the required $12M in order adequately fund the Origin Energy Resources Ltd. deal by the September 30 deadline. . .the Origin assets feature prominently in the Taranaki project work plan, targeting a 2014 exit rate of 2,300 boe/d. . .we continue to rate New Zealand Energy a Buy."

Bill Newman, Mackie Research Capital (8/29/13) "New Zealand Energy Corp. has until September 30, 2013, to meet the financial conditions to close the Origin Energy Resources Ltd. acquisition. The assets include three production licenses, the Waihapa production station and 100km of oil and gas pipelines in the Taranaki Basin in New Zealand. . .following these transactions, New Zealand Energy will be able to focus on building its production base by exploiting its newly acquired assets. . .the company continues to refine its inventory of the Moki, Tikorangi and Kapuni prospects on both the Waihapa blocks and the Alton and Eltham permits. These deeper targets offer large conventional resource potential."

David Buma, M Partners (8/7/13) "New Zealand Energy Corp. continues to work to secure the remaining $12M to complete the Origin acquisition, having made significant progress with the $18M L&M Energy deal announced last week giving that company a 50% interest in the Origin assets. . .we continue to rate the shares Buy with a one-year price target of $0.80. . .we highlight the current valuation (1.8x 2014E EBITDA versus comps at 2.8x), the expected return to production growth late this year and the enormous potential of the East Coast Basin."

David Dudlyke, Dundee Capital Markets (8/6/13) "On the basis that the Origin acquisition closes in Q3/13, New Zealand Energy Corp. projects an overall Taranaki Basin capital program of almost $32M by year-end 2014, resulting in exit 2014 production of 2,300 boe/d and cumulative operating cash flow of $26.1M for Q4/13–year-end 2014. The Taranaki Basin program thus requires funding, but only to a modest degree."

David Buma, M Partners (7/31/13) "New Zealand Energy Corp. announced yesterday it has formed a joint venture with L&M Energy Ltd. to share the cost of the previously announced Origin deal. . .we view the agreement positively insofar as it partially derisks the funding aspect of the acquisition and we believe the addition of a partner could facilitate a more rapid pace of development. . .we reiterate our Buy rating."

David Dudlyke, Dundee Capital Markets (7/30/13) "The funds to be provided to New Zealand Energy Corp. by its new joint venture (JV) partner, L&M Energy Ltd., mark a key step forward. New Zealand Energy has signed a letter of agreement with L&M, whereby L&M will New Zealand Energy CA$18.25M to form a 50/50 JV to explore, develop and operate the Tariki, Waihapa and Ngaere mining licenses, as well as the Waihapa production station and associated pipelines and infrastructure that New Zealand Energy acquired in the Origin deal."

Alan Knowles, Haywood Securities (7/30/13) "L&M Energy Ltd. (a private New Zealand company) will jointly acquire the Origin assets with New Zealand Energy Corp. on a 50:50 basis. . .New Zealand Energy will operate the licenses and the Waihapa production station. . .the acquisition of the gas-processing infrastructure and other prospective acreage from Origin Energy Resources will provide, on closing, a longer-term strategic benefit with respect to the processing of associated gas that is likely with most discoveries in the area."

Bill Newman, Mackie Research Capital (7/30/13) "New Zealand Energy Corp. has signed a 50/50 joint venture agreement with L&M Energy Ltd. to share the exploration, development and operating costs of Waihapa blocks and the Waihapa production station. L&M will pay New Zealand Energy $18.25M in return for a 50% interest in the Origin Assets and to cover 50% of New Zealand Energy's costs incurred to date. . .the JV agreement should help the company complete the Origin Asset acquisition and will reduce future capital requirements. . .the Origin blocks are a good fit with current assets in the Taranaki."

The Energy Report Interview with Roger Wiegand (6/20/13) "New Zealand Energy Corp. is a good company. Its price recently backed off because after three major drilling expeditions performed well, the company's share price went up tremendously and investors took profits. But the company is well funded and it controls important reserves. We advise holding on to New Zealand Energy, because the price is likely to go back up." More >

Kevin Graham, Graham Analytics (6/18/13) "New Zealand Energy Corp.'s amended deal for Waihapa is good news. . .the value of the new property is so high (replacement cost of more than $120M by my last count, and this not counting the value of resources in the ground) that once the financing for the acquisition is announced, the market may give some ground. . .the company will have to demonstrate capacity, not just to acquire the property, but to fund operations to develop its attractive properties. I suspect that this combination will be forthcoming and will be well received."

David Buma, M Partners (6/18/13) "New Zealand Energy Corp. announced yesterday it has finalized the terms of the sale and purchase agreement with Origin Energy concerning the Waihapa production station and three petroleum licenses covering 23,000 acres. . .we view the amendments to the agreement positively, most notably in the material reduction in the upfront capital costs of the acquisition. . .we continue to rate the company's shares Buy."

Morning Coffee, Canaccord Genuity (6/18/13) "New Zealand Energy Corp. announced that it has finalized the sale and purchase agreement to acquire both upstream assets and facilities from Origin Energy Resources in New Zealand. The revised purchase price of $33.5M is lower than the original deal, which was for $42M along with $9M in adjustments. . .in preparation for raising funds for the acquisition, the company has completed an independent assessment of reserves and resources to the new potential licenses, completed by Deloitte LLP. Total 2P volumes were estimated at 2.1 MMboe with associated before-tax value of $51M."

Alan Knowles, Haywood Securities (6/17/13) "New Zealand Energy Corp. has finalized acquisition terms for Tariki, Waihapa and Ngaere licenses with Origin Energy. . .the impact is potentially positive. . .the acquisition price has been reduced to $33.5M from $42M and the company will now acquire three licenses instead of four. . .a successful acquisition will increase reserves 303%."

Bill Newman, Mackie Research Capital (6/17/13) "New Zealand Energy Corp. announced a finalized sale and purchase agreement to acquire petroleum mining licenses ('Waihapa blocks') and the Waihapa production station from Origin Energy. . .the Origin assets include estimated 2P reserves of 2.1 MMboe with a before-tax net present value discounted at 10% of $62.9M. . .once the transaction is complete, New Zealand Energy will be able to focus on building is production base by exploiting its newly acquired assets."

Bill Newman, Mackie Research Capital (5/30/13) "New Zealand Energy Corp.'s average Q1/13 production of 335 bblpd was higher than our forecast of 200 bblpd. . .in May, the company installed permanent production facilities at the Copper Moki site, which should reduce operating costs. . .we maintain our Speculative Buy recommendation and our $1.15 target price on New Zealand Energy's conventional growth potential in the Taranaki Basin and longer-term shale resource upside in the East Coast Basin."

David Buma, M Partners (5/30/13) "New Zealand Energy Corp. reported Q1/13 results yesterday. . .sales averaged 303 bbl/d in the quarter, in line with our 300 bbl/d Estimate. . .the company continues to work toward closing the Origin deal by the June 30 deadline. . .of note, New Zealand Energy has already put down a $5M non-refundable deposit per the terms of the transaction. . .we continue to rate the company a Buy."

Deborah Bacal, Proactive Investors (5/29/13) "New Zealand Energy Corp. is implementing measures to reduce production costs and increase oil output by installing permanent production facilities at its Copper Moki site. According to the statement today, methods identified to optimize output could also include stimulation of well flow with condensate washes, modified pumping mechanisms or other forms of reservoir stimulation. . .the company has also completed a natural gas pipeline from the Copper Moki site to the Waihapa production station, and is considering laying 1.3km of natural gas pipeline to tie-in Waitapu-2 to the station."

David Buma, M Partners (4/26/13) "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 Capital Markets (4/25/13) "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 Buma, M Partners (4/4/13) "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."

David Popowich, Macquarie Capital Markets (4/4/13) "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."

Deborah Bacal, Proactive Investors (4/3/13) "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."

Alan Knowles, Haywood Securities (4/1/13) "New Zealand Energy Corp. has moved one step closer to closing the Origin acquisition. . .there remain several conditions prior to closing, all of which the company has stated are substantially advanced."

The Energy Report Interview with Amin Haque (3/28/13) "When New Zealand Energy Corp. confirmed that it was facing challenges, the market reacted violently and the stock went down to about $0.39/share. Despite its challenges, that level of price decline is not justified. The sum of the value of individual assets should be higher than that. . .I revised my rating to Outperform." More >

Alan Knowles, Haywood Securities (3/26/13) "New Zealand Energy Corp. has moved one step closer to closing the Origin acquisition. . .New Zealand's Overseas Investment Office has provided its approval for the planned acquisition of Origin's assets in the Taranaki Basin. . .there remain several other conditions prior to closing, all of which the company has stated are substantially advanced. . .New Zealand Energy is continuing to not only work on closing the Origin acquisition, but also secure the necessary funding for the same."

Ubika Research (3/12/13) "New Zealand Energy Corp. was up 24.14% for the week due to the recent positive development in the Taranaki Basin of New Zealand's North Island."

David Dudlyke, Dundee Capital Markets (2/27/13) "New Zealand Energy Corp.'s management instead plans to focus on upstream opportunities post the pending Origin acquisition, namely the reactivation and recompletion of 12 existing wells that lie within the Origin upstream acreage. . .the company still expects to close this transaction, albeit in Q2/13. . .we retain our Buy rating."

Amin Haque, Stonecap Securities (2/26/13) "Despite New Zealand Energy Corp.'s challenges, we strongly believe that the market oversold the stock yesterday and disregarded the merits of the company: About 350 bpd of current production of very high-quality oil and corresponding cash flow; potential for production growth through inexpensive recompletion of old wells; near-term revenue from gas sale and transportation; a large exploration fairway, which has been well defined with valuable seismic data into leads and prospects. . .we are changing our rating on New Zealand from Sector Perform to Outperform. . .even a less than full valuation of the individual assets provides excellent upside from the current price."

David Buma, M Partners (2/26/13) "We continue to rate New Zealand Energy Corp. shares Buy based on 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 in April (the company is targeting start of its own wells in November). . .the next update from New Zealand Energy should come in fairly short order as work-over activities at Arakamu-2 are now underway."

Alan Knowles, Haywood Securities (1/24/13) "New Zealand Energy Corp. provides investors with an opportunity to invest in a company with a diversified conventional and unconventional opportunity base in a low-risk political environment. The opportunity base is material, and with the strong netbacks possible, drilling success could result in the generation of significant cash flow. . .we maintain our target price of $2 and our rating of Sector Outperform. . .closing of the Origin acquisition, securing a line of credit, restarting the LNG processing facility and increasing production from current levels are all potential catalysts for New Zealand Energy."

Morning Coffee (1/15/13) "New Zealand Energy Corp. plans to drill two wells on the East Coast in 2013 to evaluate both conventional opportunities in the shallower Miocene sands and unconventional opportunities in the Waipawa and Whangai oil shale formations. The company expects to finish the remainder of the eight-well program by the end of Q1/13 and continues to target 3 Mboe/d in production by the end of Q1/13."

Bill Newman, Mackie Research Capital (1/14/13) "New Zealand Energy Corp. is currently engaged in an eight-well drilling campaign, targeting conventional oil and gas in the Taranaki basin; with exploration success, the company hopes to achieve an exit Q1/13 production rate of 3,000 boe/d. If successful, New Zealand Energy can fund a substantial portion of its future capital expenditures with cash flow. . .during 2013 the company plans to drill two wells in the East Coast basin to appraise the shale potential of its blocks. . .we are maintaining our Buy recommendation on New Zealand Energy's conventional drilling program and lower-risk recompletion opportunities included with the Origin acquisition; in addition, NZEC will continue to appraise the shale play in the East Coast basin, which represents significant long-term potential."

David Buma, M Partners (12/21/12) "Underlying our Buy recommendation for New Zealand Energy Corp. is the attractive valuation, the company's steep production trajectory over the next 12–18 months and the upside of the East Coast Basin. Near-term catalysts include a stream of drill-related news flow, completion of a credit facility and growing interest in the East Coast basin as industry activity ramps up there."

Bill Newman, Mackie Research Capital (12/21/12) "With exploration success, New Zealand Energy Corp. hopes to achieve an exit Q1/13 production rate of 3 Kboe/d; if successful, the company can fund a substantial portion of its future capital expenditure with cash flow. We maintain our Buy recommendation and our $3.90 target price on New Zealand Energy's current conventional drilling program, lower-risk recompletion opportunities included with the Origin acquisition and shale resource upside."

Christopher Brown, Canaccord Genuity (12/21/12) "New Zealand Energy Corp. restated it is on track to achieve 3 Kboe/d; it also plans to drill two exploration wells on the east coast of New Zealand in 2013 and close the Origin Energy Ltd. asset acquisition in Q1/13. The company has identified up to 18 Mt. Messenger leads on Origin's Tariki, Ahuroa, Waihapa and Ngaere petroleum licenses, many of which can be reached from existing well sites."

fewer comments
Due to permission requirements, not all quotes are shown.

New Zealand Energy Corp. Content



Back to Top