New Zealand Energy Reports Q1 Losses, Decrease in Cash Holdings

New Zealand Energy reported a Q1 comprehensive loss of C$994,550, a decrease from C$914,919 in 2024. Cash held declined by C$965,615 to C$155,930, and operating activities used C$665,681, up from C$397,608 in 2024.

New Zealand Energy Corp (NZERF) has reported its Q1 2025 financial results, posting a comprehensive loss of C$994,550, a decrease from C$914,919 in the same period last year [1]. The company's cash position deteriorated significantly, with a C$965,615 decrease, ending at C$155,930. Cash used in operating activities for the quarter increased to C$665,681 from C$397,608 in 2024 [1].

The company has shifted its focus to the Tariki Gas Field conversion project following declining gas rates at Tariki-5A well. NZEC is working on restoring Waihapa-Ngaere wells, with four wells back in production and two more expected in Q2, targeting 25-40 bopd (NZEC share). Two Copper Moki workovers planned for June 2025 are expected to add 200 bopd and 0.2 mmscf/d of gas sales. The company is advancing the Tariki Gas Storage development with reservoir studies and facility development concepts, aiming for a Final Investment Decision within 12 months [2].

The financial results highlight the company's ongoing challenges in the energy sector, with a significant increase in operating expenses and a substantial decrease in cash holdings. Investors should closely monitor NZEC's progress in its projects and its ability to manage cash flow effectively.

References:
1. [1] https://www.stocktitan.net/news/NZERF/new-zealand-energy-corp-announces-2025-quarter-1-rap41re7p0d3.html
2. [2] https://seekingalpha.com/news/4455581-new-zealand-energy-reports-q1-results