NZEC Corporate Presentation October 2011
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  • 1. New Zealand Energy Corp.Corporate Presentation NewZealandEnergy.comOctober 2011 TSX‐V: NZ
  • 2. Forward‐looking Statements New Zealand Energy Corp.This presentation contains forward‐looking information and forward‐looking statements within the meaning of applicable securities legislation (collectively “forward‐looking statements”).The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “propose”, “should”, “believe” and similar expressions are intended to identify forward‐looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated insuch forward‐looking statements. The Corporation believes the expectations reflected in those forward‐looking statements are reasonable, but no assurance can be given that theseexpectations will prove to be correct. Such forward‐looking statements included in the presentation should not be unduly relied upon. These statements speak only as of the date of thepresentation. The presentation contains forward‐looking statements pertaining to the following: business strategy, strength and focus; proposed expenditures under “Use of Proceeds”; thegranting of regulatory approvals; the timing for receipt of regulatory approvals; the resource potential of the Properties; the estimated quantity and quality of the Corporation’s oil andnatural gas resources; projections of market prices and costs and the related sensitivity of distributions; supply and demand for oil and natural gas; expectations regarding the ability to raisecapital and to continually add to resources through acquisitions and development; treatment under governmental regulatory regimes and tax laws, and capital expenditure programs;expectations with respect to the Corporation’s future working capital position; capital expenditure programs; and abandonment and reclamation costs. With respect to forward‐lookingstatements contained in the presentation, assumptions have been made regarding, among other things: future commodity prices; the Corporation’s ability to obtain qualified staff andequipment in a timely and cost‐efficient manner; the impact of any changes in New Zealand law; the regulatory framework governing royalties, taxes and environmental matters in NewZealand and any other jurisdictions in which the Corporation may conduct its business in the future; the ability of the Corporations subsidiaries to obtain subsequent mining permits, accessrights in respect of land and resource and environmental consents; the recoverability of the Corporation’s crude oil, natural gas and natural gas liquids resources; the applicability oftechnologies for recovery and production of the Corporation’s oil, natural gas and natural gas liquids resources; the Corporation’s future production levels; the Corporation’s ability tomarket crude oil, natural gas and natural gas liquids production; future development plans for the Corporation’s assets unfolding as currently envisioned; future capital expenditures to bemade by the Corporation; future cash flows from production meeting the expectations stated herein; future sources of funding for the Corporation’s capital program; the Corporation’sfuture debt levels; geological and engineering estimates in respect of the Corporation’s resources; the geography of the areas in which the Corporation is exploring; the intentions of theCorporation’s board with respect to the executive compensation plans and corporate governance programs described herein; the impact of increasing competition on the Corporation; andthe Corporation’s ability to obtain financing on acceptable terms, or at all. Actual results could differ materially from those anticipated in these forward‐looking statements as a result of therisk factors set forth below and elsewhere in the presentation: the speculative nature of exploration, appraisal and development of oil and natural gas properties; uncertainties associatedwith estimating oil and natural gas resources; changes in the cost of operations, including cots of extracting and delivering oil and natural gas to market, that affect potential profitability ofoil and natural gas exploration; operating hazards and risks inherent in oil and natural gas operations; volatility in market prices for oil and natural gas; market conditions that prevent theCorporation from raising the funds necessary for exploration and development on acceptable terms or at all; global financial market events that cause significant volatility in commodityprices; unexpected costs or liabilities for environmental matters; competition for, among other things, capital, acquisitions of resources, skilled personnel, and access to equipment andservices required for exploration, development and production; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failureto realize the anticipated benefits of acquisitions; and the other factors discussed under “Risk Factors”. Readers are cautioned that the foregoing lists of factors are not exhaustive. Thematerial factors and assumptions used in developing the forward‐looking statements are based on the assumptions contained in the Eltham Report, Castlepoint Report, Ranui Report andEast Cape Report (as those terms are defined in the preliminary prospectus), including future commodity prices, costs and expected inflation, as well as the Corporation’s planned capitalexpenditure program, estimated drilling success rates and other prospects. Due to the nature of the oil and natural gas industry, budgets are regularly reviewed in light of the success of theexpenditures and other opportunities, which may become available to the Corporation. Accordingly, while the Corporation anticipates that it will have the ability to spend the fundsavailable to it as stated in the presentation, there may be circumstances where, for sound business reasons, a reallocation of funds may be prudent. Statements relating to “resources” aredeemed to be forward‐looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the resources described can be profitably produced inthe future. The forward‐looking statements contained in the presentation are expressly qualified by this cautionary statement. Except as required under applicable securities laws, theCorporation does not undertake or assume any obligation to publicly update or revise any forward‐looking statements. None of the Corporation’s securities have been or will be registeredunder the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and the Corporation’s securities may not be offered or sold in the UnitedStates unless registered or exempt from such registration requirements. This presentation does not constitute an offer of securities in the United States or in any jurisdiction in which suchan offer would be unlawful. 2
  • 3. NZEC Investor Highlights New Zealand Energy Corp.• Developing and producing oil and natural gas • First discovery well tested 1,100 barrels/day 41.8 API1 oil and 855 mcf2 natural gas  advancing to commercial production in Q4‐2011 • Validated geological model  exploration to repeat success• Large conventional and unconventional prospective resource base3 • 194 million boe conventional  • 478 million boe unconventional shales • 5 permits4 covering 2 million acres• Low capital / high impact exploration model • Multi‐zone basins, oil focus in Brent pricing environment• Canadian leadership alongside New Zealand petroleum experts Resources      Production      Cashflow  Reserves 1. American Petroleum Institute.  2. Thousand cubic feet.  3. AJM Petroleum Consultants Net Prospective Resource (best estimate). See  Cautionary Note Regarding Resource Estimates.  4. East Cape permit pending Crown approval. 3
  • 4. Current Capitalization New Zealand Energy Corp.Current Shares Outstanding 100,609,105Options (Exercisable at $1.00) 4,828,000Advisor Warrants (Exercisable at $1.00) 657,315Fully Diluted Shares Outstanding 106,094,420• ~$22 million net working capital (September 2011)• Insider group owns ~ 40% of the fully diluted shares NZEC Copper Moki‐1  Discovery Well 4
  • 5. Senior Management and Directors New Zealand Energy Corp. John A. Greig D. Kenneth Truscott Hamish J. Campbell Chairman, Director Director Director (42 years experience) (30 years experience) (26 years experience) John G. Proust Bruce G. McIntyre CEO, Director President, Director (26 years experience) (31 years experience) Ian Brown Jeff Redmond Celeste Curran Rhylin Bailie Cliff Butchko Eileen Au Chief Operating  Chief Financial  VP, Corporate &  VP, Communications  VP, Engineering Corporate Secretary Officer Officer Legal Affairs & Investor Relations (30 years experience) (10 years experience)(30 years experience) (15 years experience) (23 years experience) (15 years experience)• 3 Geologists • Bringing WCSB expertise, technology and past success to New Zealand• 1 Geophysicist• 2 Logistics Staff • New Zealand technical team with 26+ years experience providing • 1 Office Manager consulting services to explorers and producers, involved with most of  the major reserve accumulations 5
  • 6. Why New Zealand? New Zealand Energy Corp.• Proven hydrocarbon systems  with multi‐zone potential East Coast Basin• Favorable royalty and tax  structure• Brent pricing environment• Proactive Government  approach to oil and natural gas  exploration and development• Established infrastructure with  capacity Taranaki Basin 6
  • 7. NZEC Asset Summary New Zealand Energy Corp.Taranaki Basin East Coast Basin• Proven producing basin  • World‐class resource  with conventional focus potential in multiple • 2 permits covering  shales 152,066 net acres • 1.8 million net acres• Copper Moki‐1  Copper Moki‐1  • 2 permits issued,          discovery well 1 permit pending discovery well tested  1,100 barrels oil/day  • 478 million barrels  and 855 mcf/day  unconventional  natural gas1 prospective resource4• Over 33 prospects with  • 22.3 billion barrels  66.6 million barrels  OOIP1 prospective resource2• 730 million barrels  OOIP3 1. See August 24, 2011 press release on www.newzealandenergy.com. 2. Net Prospective Resource as identified by AJM Petroleum Consultants  (best estimate) assuming 9% recovery.  3. Net Undiscovered Petroleum Initially in Place (OOIP) as identified by AJM Petroleum Consultants.      4. Net Prospective Resource as identified by AJM Petroleum Consultants (best estimate) assuming 2% recovery. 7
  • 8. Taranaki Basin Oil and Gas Fields New Zealand Energy Corp.Gas Field • Taranaki Basin producing 55,000 bbl/day Ultimate (Remaining) ReservesOil Field crude oil and 460 million cf/day natural Ultimate (Remaining) Reserves gas from 18 fields • NZEC exploration / production model 1. Identify prospects using proprietary  database and technical expertise 2. Offset known production and reserves 3. Explore multi‐zone potential at minimal  Alton incremental cost Eltham • Mt. Messenger established as core  production formation with Copper  Moki‐1 discovery well, 3+ additional  ~18,000 boe/d production formations identified surrounding NZEC permits 8
  • 9. NZEC Taranaki Seismic Database New Zealand Energy Corp. Taranaki Basin Focus Area Seismic CoverageNZEC Seismic Database• Map depicts NZEC’s in‐house database of 2D and  3D seismic covering Eltham, Alton, Cheal,  Sidewinder and offsetting pools• NZEC in‐country technical team has organized,  reprocessed and interpreted select seismic data• Additional 2D and 3D planned for 2012• Extensive database allows NZEC to quickly  evaluate prospects and opportunitiesTaranaki Basin (West Coast) Seismic Coverage• 2D: 60,666 km• 3D: 5,702 km2East Coast Basin Seismic Coverage• 2D: 14,535 km• 3D: 1,390 km2 9
  • 10. 2011 Taranaki Activity New Zealand Energy Corp. TAG Oil NZEC Copper Moki‐1 oil and Sidewinder light oil  natural gas discovery, and gas production commercial  production  from  Mt. Messenger in Q4‐2011 Cheal area oil and  Q4‐2011  gas production • Copper Moki‐2:  Mt. Messenger and  Urenui formations • Copper Moki‐3:  Mt. Messenger,  TAG embarking on  Urenui and Moki10‐well development  formations drilling campaign Alton Permit:  3D seismic survey to  confirm 2012 drilling  targets 10
  • 11. Copper Moki‐1 Discovery New Zealand Energy Corp. Seismic Cross Section Cheal ‐ Copper Moki ‐ Taranaki Thrust Fault Zone 11
  • 12. Copper Moki Area Exploration Strategy New Zealand Energy Corp.• Mt. Messenger 3D seismically  defined targets in yellow• Deeper Moki Formation seismically  defined targets in orange• NZEC strategy is to locate wells that  will test Mt. Messenger development   targets with deeper exploration  potential• Red lines show CM‐1 and tracks for  CM‐2 and CM‐3 12
  • 13. Taranaki Basin Exploration Strategy New Zealand Energy Corp.• Discovery well tested 1,100 barrels of oil and  855 mcf natural gas per day • Validates NZEC geological interpretation• Clear plan for repeated success in  Mt. Messenger formation • 3D seismic has defined 6 targets on trend • 2D seismic yields 12 targets  refine with 3D • Up to 1 million boe potential per well • >$60 netbacks• Multi‐zone targets de‐risk exploration • Drill to highly probable targets defined by 3D • Drill deeper in same well to examine potential  of other zones  low incremental capital 13
  • 14. Copper Moki Path to Production New Zealand Energy Corp.• Copper Moki‐1 extended production test to determine optimal flow  rates and insight into reservoir characteristics• Commercial production from Copper Moki‐1• Repeat success of Copper Moki‐1 • Drill Copper Moki‐2 and Copper Moki‐3 in Q4‐2011 • Additional targets based on 3D seismic in 2012 Prospective Resource                        NZEC Taranaki Prospects OOIP1 (9% Recovery Factor)2 Greater Copper Moki Area 124.0 mmboe 10.7 mmboe Kapuni / Kupe Trend 86.7 mmboe 7.8 mmboe Waihapa / Rimu / Kauri Trend 350.0 mmboe 31.5 mmboe Other NZEC Prospects 168.8 mmboe 16.6 mmboe TOTAL 729.5 mmboe 66.6 mmboe 1. Net Undiscovered Petroleum Initially In Place (OOIP) as identified by AJM Petroleum Consultants 2. AJM Petroleum Consultants Net Prospective Resource (best estimate) 14
  • 15. East Coast Basin New Zealand Energy Corp. • Over 300 known oil and gas seeps  sourced back to two shale formations • East Coast Basin shales analogous to  North American producing shales • Apache has joint ventured on offsetting  permits • NZEC has two granted permits and one  pending permit covering more than      1.8 million acres • Exposure to 22.3 billion bbl OOIP1 • 478 million boe of unconventional  prospective resource2 • 126 million boe of conventional  prospective resource2 1. Net Undiscovered Petroleum Initially In Place (OOIP) as identified by AJM  Petroleum Consultants. 2. AJM Petroleum Consultants Net Prospective Resource (best estimate) assuming  2% recovery. 15
  • 16. East Coast Basin Shale Potential New Zealand Energy Corp.• NZEC has completed two core holes to evaluate the Waipawa  shale  results by year end Waipawa Whangai Bakken Lias Willesden / North  East Coast / New  East Coast / New  Basin / Jurisdiction Dakota &  Paris / Fran Zealand Zealand Saskatchewan Quartz Content (%) 40 ‐ 80 40 ‐ 80 40 ‐ 60 26 ‐ 58 Carbonate Content (%) 5 ‐ 40 5 ‐ 40 10 ‐ 20 n.a. Clay Content (%) Unknown Unknown 5 ‐ 20 n.a. Depth (meters) 0 ‐ 5,000 0 ‐ 5,000 2,700 ‐ 3,500 1,650 ‐ 3,5 Thickness  (meters) 10 ‐ 70 300 ‐ 600 10 ‐ 50 1 ‐ 50 Porosity  (%) 3 ‐ 8 3 ‐ 8 4 ‐ 12 4 ‐ 10 Permeability  (microdarcies) 10 ‐ 200 10 ‐ 110 5 ‐ 1,000 50 ‐ 500 Kerogen Type Type II Type II Type II Type II TOC (%) 3.0 ‐ 12.0 0.2 ‐ 1.7 1.0 ‐ 21.0 1.0 ‐ 12.0 Vit Reflectance (R)  0.3 ‐ 0.4 0.4 ‐ 1.4 0.7 ‐ 1.1 0.5 ‐ 1.3 Tmax (Celsius) 430 ‐ 445 420 ‐ 445 420 ‐ 450 445 ‐ 450 Late Cretaceous /  Geologic Age Late Paleocene Upper Devonian Jurassic Paleocene Source: AJM Petroleum Consultants 16 15
  • 17. East Coast Basin – Ranui‐1 Re‐entry New Zealand Energy Corp.Ranui‐1 Well – Extend to Bottom of Whangai • Drilled in 2008, encountered 200+ metres of  prospective pay in Whangai shale • NZEC will re‐drill and core well in Q4‐2011 • Identify shale characteristics to unlock production  potential • Ranui Permit • 969.0 million boe unconventional OOIP1 • 22.5 million boe unconventional prospective resource2 Ranui‐1 Well1. Net Undiscovered Petroleum Initially In Place (OOIP) as identified by AJM Petroleum Consultants2. AJM Petroleum Consultants Net Prospective Resource (best estimate) assuming 2% recovery 17
  • 18. East Coast Basin Value Drivers New Zealand Energy Corp.• Advance technical understanding  of shale targets • Q3‐2011 – Completed two  stratigraphic wells on Castlepoint  Permit, results pending • Q4‐2011 – Re‐drill Ranui‐1 well to  collect data and evaluate full  extent of shale formation • 2012 – Shoot 50km of 2D seismic  on Castlepoint Permit, reprocess  existing data, determine Ranui‐1  development plans• Apply modern North American  technology to unlock production  potential 18
  • 19. Rapidly Executing on Corporate Milestones New Zealand Energy Corp.Aggressive and Efficient Strategy to Become Major Oil & Gas Player2010 2011• NZEC founded April • $7M private placement @ $0.25• Castlepoint Permit • Drilled and cased Copper Moki‐1• East Cape Permit  • $5.3M private placement @ $0.75 Application • Ranui Permit, Eltham Permit• Eltham Permit  • Acquired NZ technical team Application • Alton Permit • $21.9M IPO @ $1.00 • Trading on TSX‐V • Copper Moki‐1 results • Drilled 2 strat wells in East Coast shales 19
  • 20. Near‐term Value Drivers New Zealand Energy Corp.• Copper Moki‐1 Well (Mt. Messenger and Urenui formations) • Long‐term production test • Achieve commercial production in Q4‐2011 = cash flow• Copper Moki‐2 Well (Mt. Messenger and Urenui formations)• Copper Moki‐3 Well (Mt. Messenger, Urenui and Moki formations)• Re‐drill Ranui‐1 Well to evaluate shale opportunities • Use in‐country expertise to target strategic acquisition and  exploration targets• Use North American expertise to advance prospects to production 20
  • 21. New Zealand Energy Corp.Appendix 21
  • 22. 2011 Taranaki Activity New Zealand Energy Corp. TAG Oil Ltd. New Zealand Energy Corp. Q3‐2011: NZEC Copper Moki‐1 WellTAG’s Sidewinder light oil & gas  • 48‐hour test flowed 41.8 API oil at discovery  consistent rate of 1,100 barrels/day and • Sidewinder‐1, 2, 3 & 4 flowed natural gas  855 mcf natural gas/day1 with light oil • Oil test volumes sold at premium to • Total flow rate approx 5,065 boe4/day  Brent (30.39 million cf natural gas/day 2011 Program – Greater Cheal Area • Copper Moki‐1: Commercial production TAG’s Cheal Area oil & gas  in Q4‐2011discoveries • Copper Moki‐2: Q4‐2011 drill through • Targeting multi‐zone Miocene prospects Mt. Messenger and Urenui formations• Discoveries in Urenui, Mt. Messenger  Eltham • Copper Moki‐3: Q4‐2011 drill through    and Moki formations Permit Alton  Mt. Messenger, Urenui and Moki• Producing approx 850 boe4/day Permit formations May 2011: NZEC acquires 50% TAG’s 2011 Program Interest & Operatorship in Alton  • Six successful exploration wells Permit • Embarking on 10‐well development  • 59,600 net acres in Taranaki Basin drilling campaign • 380 million bbl net OOIP3 Rimu • 35 million bbl net prospective resource21. See August 24, 2011 press release.   2. Net Undiscovered  • 3D seismic survey to confirm 2012 Petroleum Initially In Place (OOIP) as identified by AJM Petroleum Consultants.  3. AJM Petroleum Consultants Net  Kauri drilling targetsProspective Resource (best estimate). 4. BOE conversion rate of 6mcf:1bbl is based on energy conversion method and does not represent value equivalency at the wellhead. 22
  • 23. Management New Zealand Energy Corp. Name Expertise Experience • Proven track record of building companies from grass  • Chairman, CEO & Director,  Southern Arc Minerals Inc. John G. Proust, C.Dir roots to advanced development. Specializes in  • Chairman, Canada Energy Partners Inc. CEO identifying undervalued assets on a global basis • Executive Chairman, Superior Mining International Corp. • President, CEO Sebring Energy Inc. Bruce G. McIntyre,  • Professional  petroleum geologist with over 30 years of  • President, CEO TriQuest Energy Corp. P.Geol. proven  exploration and development oriented value  • President, CEO BXL Energy Ltd., President creation   • Exploration Manager Gascan Resources Ltd. • Director, Ian R Brown Associates Ltd since 1985 Ian R. Brown, DEng • Professional geological engineer • Director, Hugh Green Energy Ltd MIPENZ • Management of technical teams • Consultant on many resource appraisal and development Chief Operating Officer projects in New Zealand • Professional engineer with over 30 years experience  • President Omni Oil and Gas Inc. Cliff Butchko evaluating and managing oil and gas resources • Vice President Lexoil Inc. P.Eng, MBA (Hon) • Partner and Co‐founder TIFF advisory group VP Engineering • Senior technical positions in several resource companies • Former Director of Finance, acting CFO for Western Coal Corp Jeff Redmond, CA  • Finance, mergers & acquisitions, and taxation • Controller for hi‐tech publicly listed companyChief Financial Officer • Public company reporting and assurance • Auditor with KPMG LLP Celeste M. Curran,  • Vice President, Corporate & Legal Affairs, J. Proust & Associates B.A. (Hon), L.L.B. • Over 20 years of legal and negotiating experience  • Lead counsel for City of Vancouver and City of Richmond for the VP Corporate & Legal  specializing in major projects 2010 Olympic and Paralympic Winter Games Affairs • Senior Solicitor, City of Vancouver Rhylin Bailie, B.ES. • Nearly 16 years of experience in the resource industry,  • Director Communications & Investor Relations, NovaGoldVP Communications &  in both finance and investor relations Resources Inc. Investor Relations • Professional writer and editor • Supervisor Treasury Administration, Placer Dome Inc. 23
  • 24. Directors New Zealand Energy Corp. Name  Expertise Experience John A. Greig, • Founder and financier of numerous mining  • Founder, Director & Officer Sutton Resources, Cumberland  M.Sc., P.Geo and oil and gas companies. Specializing in  Resources Ltd., Eurozinc Mining Corp., Crown Resources Corp. Chairman recognizing undervalued geological assets • Proven track record of building companies John G. Proust, C.Dir. • Chairman, CEO & Director,  Southern Arc Minerals Inc. from grass roots to advanced development.  CEO • Chairman, Canada Energy Partners Inc. Specializes in identifying undervalued assets  Director • Executive Chairman, Superior Mining International Corp. on a global basis • President, CEO Sebring Energy Inc. Bruce G. McIntyre,  • Professional  petroleum geologist with over  • President, CEO TriQuest Energy Corp. P.Geol. 30 years of proven  exploration and  • President, CEO BXL Energy Ltd., President, Director development oriented value creation   • Exploration Manager Gascan Resources Ltd. • Senior executive with over 30 years of  • Senior Vice President, Land & Business Development D. Kenneth Truscott corporate development and negotiation  Crew Energy Inc. Director experience in the Canadian oil and gas  • Founder, CEO Morpheus Energy Corp. industryHamish J. Campbell • Professional geologist with 30 years of  • Director of a number of New Zealand limited liability mineral  B.Sc. (Geology),  experience  managing exploration programs,  and petroleum companies MAusIMM evaluation and assessment of joint ventures  • Principal Indonesian mining service company Director and acquisitions • Executive Vice President, Southern Arc Minerals Inc. 24
  • 25. New Zealand Technical Team New Zealand Energy Corp. Name Qualifications ExpertiseDr. Ian Brown D. Eng Chief Operating Officer;  professional geological engineer B.Sc, June Cahill Acquisition, management, and analysis of complex geoscience data B. Applied Econ. B.Sc (Hons) Bill Leask Petroleum geology related to the East Coast and other New Zealand basins M.Sc (Hons) B.Sc (Hons)Dr. Simon Ward Petroleum geology related to the Taranaki and other New Zealand basins Ph.D Ian Calman B.Sc (Hons) Seismic data acquisition, processing, and interpretation B.Sc Sam Pryde Geological investigations in the East Coast basin area Post. Grad. Dip. B.E, B.Sc (Hons) Management and development of computing resources for geoscience Peter Wood applications M.Sc (Hons)  25
  • 26. Exploration & Development Budget New Zealand Energy Corp. $19.7 million exploration and development plan – Year 1 • Achieve commercial production from Copper Moki‐1 well • Drill and evaluate 2 additional Taranaki wells • Re‐drill, core and evaluate Ranui‐1 well 12 MONTH USE OF PROCEEDS ($000s) Copper Moki‐2 CM‐1 Completion Copper Moki‐3 Talon‐1 Ranui‐1 5 Wells Total Q3 Q4 Q1 Q2 Sept 3011 Dec 3111 Mar 3112 Jun 3012 Next 4 QsEltham Permit 51150                     5,050                      1,550                   ‐                       ‐               6,600Alton Permit 51151                      4,500                      2,000                   ‐                       ‐               6,500Ranui Permit 38342                     2,500                         675                   ‐                       ‐               3,175Castlepoint Permit 52694                         250                         250              125                       ‐                  625East Cape Permit 52976                                                       150              140                       ‐                  290 ‐Acquisition Opportunities                                                   2,500                   ‐                       ‐               2,500 ‐Corporate G&A                        767                         787              920                  892               3,366                  13,067                      7,912           1,185                  892             23,056 26
  • 27. New Zealand Market for Oil and Gas New Zealand Energy Corp.New Zealand Market for Oil Oil Infrastructure• Significant net importer of oil Shell Operated  • Production of ~55,000 bbl/d exclusively from the  Export Hub Taranaki Basin • Current demand is ~150,000 bbl/d• Premium pricing environment • NZEC oil production sold at Brent • Premium to WTINew Zealand Market for Gas• Demand and infrastructure supported 460 million cf/d of  production and sales within domestic marketplace in 2009• Excess demand environment • Methanex methanol production facility at 40% capacity,  Source: IEA requires additional ~120 million cf/d for full capacity 27
  • 28. Alton Permit Prospects New Zealand Energy Corp. Talon‐1 well drilled in Q3‐2011 • Intersected 75 metres of good Manutahi reservoir but only minor amounts of natural gas – well will not be completed Refining 2D targets with 3D seismic survey to confirm 2012 exploration program Alton Permit Working Interest 50% Net Permit Acreage 59,600 Resources – Recoverable(1) 34.6 million bbl Year 1 Planned Capex $6.5 million Target Depth 1,500‐2,500 metres Net Resources  Alton Key Prospects (2) Well Spud Target Fm. Recoverable(1) 1) Horoi 2012 Mt Messenger/Urenui 9,435 2) Morea 2012 Mt Messenger/Urenui 6,701 3) Ohangai TBD Mt Messenger/Urenui 5,834 4) Makaria TBD Manutahi 824 (1)Resource estimates based on May 2011 AJM report P50 Best Estimate and represent prospective resources for each lead that have not been adjusted for risk based on chance of discovery or chance of development. Figures shown as mstb. (2)“Lead” is geologically based information which indicates potential for hydrocarbon bearing formations. Additional  technical information is required to confirm the lead prior to drilling a well. 28
  • 29. Eltham Permit Prospects New Zealand Energy Corp. • Copper Moki‐1 discovery well completed in August 2011, advancing toward Q4‐2011 production • Remainder of 2011 program includes • Advancing Copper Moki‐1 into production • Drilling Copper Moki‐2 and Copper Moki‐3 • Acquiring and processing 50 km of 2D seismic data Eltham Permit Working Interest 100% Net Permit Acreage 92,467 Resources ‐ Recoverable (1) 32.1 million bbl Year 1 Planned Capex $6.6 million Target Depth 1,500 ‐ 2,500 metres Well  Resources ‐ Eltham Key Prospects(2) Spud Target Fm. Recoverable(1) 1) Copper Moki Discovery 2011 Mt. Messenger / Moki 872 3) Ararata 2012 Moki 433 4) Inaha 2012 Kiore 12,770 5) Tangahoe 2012 Moki 6,914 6) Rawhitiroa TBD Mt. Messenger 2,832 7) Maata TBD Mt. Messenger 146 8) Karimoi TBD Moki 2,362 21 Additional Ancillary (2) Mt. Messenger / Moki 899 (1) Resource estimates based on March 2011 AJM report P50 Best Estimate and represent prospective resources for  each lead that have not been adjusted for risk based on chance of discovery or chance of development. Figures  shown as mstb. (2) "Lead" is geologically based information which indicates potential for hydrocarbon bearing formations. Additional  technical information is required to confirm the lead prior to drilling a well. 29
  • 30. Cautionary Note Regarding Resource Estimates New Zealand Energy Corp.A prospective resource is defined as those quantities of petroleum estimated, as of a given date,to be potentially recoverable from undiscovered accumulations by application of futuredevelopment projects. Prospective resources have both an associated chance of discovery and achance of development. Prospective resources are further subdivided in accordance with thelevel of certainty associated with recoverable estimates assuming their discovery anddevelopment and may be sub‐classified based on project maturity. There is no certainty that anyportion of the resources will be discovered. If discovered, there is no certainty that it will becommercially viable to produce any portion of the resources. 30
  • 31. Contact New Zealand Energy Corp. New Zealand Energy Corp.Vancouver OfficeRhylin BailieVice President, Communications & Investor Relations+ 604‐601‐2010info@newzealandenergy.comNew Zealand Office+ 64‐4‐471‐1464Toll‐free 0800‐469‐363www.newzealandenergy.com 31