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Monumental to Hold 60% Majority Stake
Monumental Energy Corp. ("*Monumental" or the "Company") (TSXV: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce that its application for petroleum exploration permit PEP61554, covering the Tirua Point application area in New Zealand's Taranaki Basin, has been accepted by New Zealand Petroleum & Minerals ("NZPA") and will now proceed to government review.
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Image: Taranaki Basin, NZ. TAWN licences (NZEC permits)
The application was submitted in May 2026 by Monumental, private company 3TCF and New Zealand Energy Corp. (TSXV: NZ) ("NZEC"), the proposed operator. The three-month competing-application period closed on August 12, 2026, with no competing applications received.
Upon the permit being granted and definitive agreements completed, Monumental expects to hold a 60% interest, with 3TCF holding 30% and NZEC holding the remaining 10%.
Tirua Point Application Area
The Tirua Point application covers approximately 245 square kilometres of prospective onshore and offshore acreage in the northern Taranaki Basin. Technical work completed by the applicant group has identified two gas-condensate prospects: Mauku Northeast and Mangatoa.
Mauku Northeast is an Eocene-age Mangahewa Group prospect situated updip from the Mauku-1 well drilled in 2013, which intersected approximately 140 metres of net reservoir.
Mangatoa is a deeper prospect targeting the mid-Cretaceous Taniwha Formation. The offshore Te Ranga-1 well, drilled in 1986, intersected approximately 100 metres of the Taniwha Formation between measured depths of 3,740 and 3,842 metres below the Kelly bushing. Subsequent petrophysical reviews of available wireline and well data have interpreted indications of movable hydrocarbons within sandstone intervals in the formation.
The accepted application will now undergo government review. There can be no assurance that NZPAM will grant the permit within the anticipated timeframe or at all. If the permit is granted, Monumental, 3TCF and NZEC intend to finalize and enter into definitive joint-venture and operating agreements.
Maximilian Sali, CEO, Director and Founder of Monumental, commented:
"The acceptance of our application is an important step toward securing the Tirua Point permit. Tirua Point would expand our presence in the Taranaki Basin and add two identified gas-condensate prospects to our New Zealand portfolio. Monumental and its partners have spent a significant number of hours to get this application lodged with the government regulatory agency, New Zealand Petroleum and Minerals (NZPAM). I believe this forward thinking and right timing will lead to a re-rating of our share price. This is just the first of many catalysts to come between now and the rest of the year."
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sectors. The Company is building a strategic position in New Zealand's onshore Taranaki Basin, targeting near-term oil production and longer-term natural gas development.
The Company has a funding agreement with New Zealand Energy Corp. (" NZEC ") targeting production optimization and workover opportunities across existing fields. The Company also holds securities of NZEC and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2% net smelter return royalty on Summit Nanotech's interest in the Salar de Turi lithium project in Chile.
On behalf of the Board of Directors,
/s/ "Max Sali"
Max Sali, CEO, Director and Founder
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, obtaining the Tirua Oil and Gas License, entering into an agreement with 3TCF and NZEC regarding the Tirua Oil and Gas License, carrying out future work on the Company's oil and gas projects, potential additional oil and gas transactions, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ at www.sedarplus.ca . While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company's ability to operate, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260818163013/en/
Max Sali , Chief Executive Officer, Director and Founder
Email: max@monumental.energy
Phone: 1-604-367-8117
