Monumental Energy Corp. Reports Stable 568 bpd Flow from Waihapa H1 Well

Monumental Energy Corp. (TSX‑V: MNRG; FSE: ZA6; OTCQB: MNMRF) announced on 19 March 2026 that its reworked Waihapa H1 well, located in New Zealand’s onshore Taranaki Basin, achieved an initial flush production of 3 000 barrels of 38° API crude oil and has since stabilized at an unstimulated flow rate of 568 barrels per day (bpd).

The company attributes the successful output to a low‑cost perforation program that spanned seven intervals across a six‑metre section of the well. The Waihapa H1 installation sits within 100 metres of existing production infrastructure, enabling efficient processing of oil and associated gas at the nearby Waihapa facility. The 568 bpd figure represents a daily rate that continues to rise and the company has committed to updating the market with cumulative production figures at the end of the month.

Operational Context

  • Location: New Zealand, Taranaki Basin
  • Production: 3 000 barrels of 38° API crude in the first flush; 568 bpd unstimulated flow
  • Methodology: Low‑cost perforation across seven intervals, totaling six metres
  • Infrastructure: Close proximity (≈ 100 m) to existing processing facilities

Monumental’s partnership with New Zealand Energy Corp. (NZEC) facilitated a funding agreement that allowed the company to participate in the workover and subsequent production ramp‑up. NZEC holds a 50 % interest in licences PML 38140 and PML 38141, which cover the Waihapa H1 well.

Market Implications

The reported flow rate exceeds many analysts’ expectations for a first‑flush, unstimulated output from a reworked onshore New Zealand well. With a current market capitalization of approximately 9.4 million CAD and a price‑to‑earnings ratio of –0.892, the company’s valuation remains modest, reflecting its status as a development‑stage exploration firm. The stable production figures provide tangible operational progress that may support future investor confidence and potential capital raises.

Regulatory and Investor Relations

On 19 March, the Canadian Investment Regulatory Organization announced a trade resumption involving Monumental Energy, indicating that the company’s operations are aligned with regulatory expectations. While Monumental was not listed among the presenters for the upcoming Virtual Investor Summit scheduled for 25–26 March 2026, the firm’s recent production milestones are likely to be a focal point in its ongoing engagement with institutional and retail investors.

Outlook

Monumental Energy Corp. plans to monitor the Waihapa H1 well daily and will publish total production figures by month‑end. The company’s focus remains on expanding its portfolio of mineral resource properties in Canada, but the successful New Zealand production run demonstrates its capability to generate revenue streams from international exploration assets.

All figures and statements are taken directly from the company’s releases dated 19 March 2026 and related news sources.