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TSX-V: NZ 
OTCQX: NZERF 
Waihapa Production Station 
Corporate Presentation 
September 3, 2014
Cautionary Notes 
Forward-looking Statements 
This document contains certain 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 “being”, “will”, “until”, “estimate”, “forecast”, “will be”, “is considering”, “will proceed”, “plans”, “reactivate”, “recommence”, “would be”, “could be”, “will bring”, “could bring”, “expected”, 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 in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. This document contains forward-looking statements and assumptions pertaining to the following: business strategy, strength and focus; the granting of regulatory approvals; the timing for receipt of regulatory approvals; geological and engineering estimates relating to the resource potential of the Properties; the estimated quantity and quality of the Company’s oil and natural gas resources; supply and demand for oil and natural gas and the Company’s ability to market crude oil, natural gas and; expectations regarding the ability to raise capital and to continually add to reserves and resources through acquisitions and development; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the ability of the Company’s subsidiaries to obtain mining permits and access rights in respect of land and resource and environmental consents; the recoverability of the Company’s crude oil, natural gas reserves and resources; and future capital expenditures to be made by the Company. Actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth below and elsewhere in the document, such as the speculative nature of exploration, appraisal and development of oil and natural gas properties; uncertainties associated with estimating oil and natural gas resources; changes in the cost of operations, including costs of extracting and delivering oil and natural gas to market, that affect potential profitability of oil 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 the Company from raising the funds necessary for exploration and development on acceptable terms or at all; global financial market events that cause significant volatility in commodity prices; unexpected costs or liabilities for environmental matters; competition for, among other things, capital, acquisitions of resources, skilled personnel, and access to equipment and services required for exploration, development and production; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failure to realize the anticipated benefits of acquisitions; and other factors. Readers are cautioned that the foregoing list of factors is not exhaustive. Statements relating to “reserves and resources” are deemed 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 in the future. The forward-looking statements contained in the document are expressly qualified by this cautionary statement. These statements speak only as of the date of this document and the Company does not undertake to update any forward-looking statements that are contained in this document, except in accordance with applicable securities laws. More information is available in the Company’s Annual Information Form for the year ended December 31, 2012, filed on June 17, 2013 on SEDAR at www.sedar.com. 
Reserve & Resource Estimates 
The oil and gas reserve and resource calculations and net present value projections were estimated in accordance with the Canadian Oil and Gas Evaluation Handbook (“COGEH”) and National Instrument 51-101 (“NI 51-101”). The term barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of six Mcf: one bbl was used by NZEC. This conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Reserves are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on: the analysis of drilling, geological, geophysical, and engineering data; the use of established technology; and specified economic conditions, which are generally accepted as being reasonable. Reserves are classified according to the degree of certainty associated with the estimates. Proved Reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable Reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. Revenue projections presented are based in part on forecasts of market prices, current exchange rates, inflation, market demand and government policy which are subject to uncertainties and may in future differ materially from the forecasts above. Present values of future net revenues do not necessarily represent the fair market value of the reserves evaluated. Information concerning reserves may also be deemed to be forward looking as estimates imply that the reserves described can be profitably produced in the future. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause the actual results to differ from those anticipated. Contingent resources are those quantities of oil and gas estimated on a given date to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political and regulatory matters, or a lack of markets. Prospective resources are those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations. Undiscovered resources means those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered. The resources reported are estimates only and there is no certainty that any portion of the reported resources will be discovered and that, if discovered, it will be economically viable or technically feasible to produce. More information is available in the Company’s Form F1-101F1 Statement of Reserves Data and Other Oil and Gas Information dated April 2, 2014, which is filed on SEDAR at www.sedar.com. 2
Fully Integrated Upstream/Midstream Company 
• 
1.15 million total acres on New Zealand’s north island with both conventional and unconventional opportunities 
• 
97,637 acres and a full-cycle production facility in the main Taranaki Basin production fairway 
• 
Experienced New Zealand team with exploration and operations expertise 
• 
Focused on increasing production and cash flow (August 2014: 205 bbl/d) 1 
- 
Optimizing production from existing wells 
- 
Advancing previously drilled wells to production  low-cost workovers, rapid tie-in using existing infrastructure 
- 
New exploration opportunities across multiple prospective formations 2 3 
1. Development and operating costs are to be funded initially by existing working capital and cash flows from production. To carry out all of the planned development activities, the Company is considering a number of options to increase its financial capacity, including additional joint arrangements, commercial arrangements, or other financing alternatives. 2. NZEC requires additional working capital or a funding partner to commence drilling new exploration opportunities.
Asset Overview – New Zealand’s North Island 4 
Permit 
Working Interest 
Net Acres 
2P boe Reserves 1 
Contingent Resource 1 
Prospective Resource 1 
Taranaki Basin – Conventional Targets 
Copper Moki 
100% 
944 
536,000 
- 
- 
Eltham 
100% 
46,444 
- 
- 
31.6 MM bbl 
Alton 
65% 
38,717 
- 
- 
45.0 MM bbl 
TWN 
50% 
11,525 
1,113,000 
580 M boe 
11.7 MM boe 
East Coast Basin – Conventional and Unconventional Targets 
East Cape 
100% 
1,048,406 
- 
- 
355.4 MM bbl 
Total 
1,146,036 
1,649,000 boe 2P Reserves net to NZEC (80% oil) $57.9 million NPV (after tax, 10% discount) 
1. Reserves and resources estimated by Deloitte LLP. The term barrels of oil equivalent (“boe”) may be misleading. A boe conversion ratio of six Mcf: one bbl was used by NZEC. For effective dates and estimated recovery rates, see NZEC’s most recent annual and interim reserve and resource reports filed on SEDAR in April 2014, the Reserve and Resource tables in this presentation, and the Cautionary Notes. Reserves are updated annually. 
Eltham 
Alton 
East Cape 
TWN
Multiple Prospective Conventional Formations in Taranaki Basin 5 
Moki 
Tikorangi 
Kapuni 
Mt Messenger 
Kapuni Group 
2,500 metres 
3,000 metres 
3,500 metres 
4,000 metres 
Approximate Depth
NZEC Production & Development Wells Status at August 29, 2014 6
7 
Full-cycle Production Station
8 
Oil facility 
• 
25,000 bbl/d oil handling facility 
• 
7,800 bbl oil storage capacity 
• 
49-km 15,500 bbl/d oil sales pipeline from Waihapa to Shell’s Omata Tank Farm 
Gas facility 
• 
45 mmcf/d separation and compression capacity 
• 
70 tonne/d LPG processing capacity 
• 
51-km 8-inch gas sales pipeline from Waihapa to New Plymouth 
• 
Storage bullets for LPG 
Water disposal operations 
• 
3,600 bbl water storage capacity 
• 
18,000 bbl/d water injection capacity 
Includes 100 acres of land providing a buffer zone surrounding the facility 
Waihapa Production Station Assets Full-cycle facility with gathering and sales pipeline infrastructure 
1. NZEC and L&M Energy have formed a 50/50 joint venture to explore, develop and operate the TWN Licenses and Waihapa Production Station.
NZEC’s TWN Management & Operational Experience 9 
NZEC Position 
Years Relevant O&G Experience 
Years Experience with TWN Assets 
Previous TWN Associated Roles 
Mike Oakes, GM Operations 
35+ 
8 
NZ Asset Manager (Origin), Plant Super & Commissioning Supervisor (Fletcher Energy) 
Derek Gardiner, 
CFO 
25 
3 
Commercial & Finance Manager (Origin) 
Newton Cockerill, 
Controller 
5 
5 
Business Performance & Accounting Manager (Origin) 
Stewart Angelo, Engineering & Maintenance Manager 
25+ 
15 
Maintenance & Engineering Consultant (Origin), Maintenance Superintendent (Fletcher Challenge) 
Peter Kingsnorth, Plant Superintendent 
25+ 
20 
Shift Supervisor (Origin), Plant Operator (Fletcher Challenge and Petrocorp) 
Pono Cooper, Field Superintendent 
25+ 
5 
Well Services Supervisor (Swift), Waihapa Operations Superintendent (Origin)
Mt. Messenger Opportunities 
Drill-proven formation 
• 
Significant discoveries to the west (TAG: Cheal), south (NZEC: Copper Moki, Waitapu) and east (Kea: Puka) 
• 
Contingent resources: 88,000 bbl oil (100% basis) 1 
• 
Prospective resources: 2,061,000 bbl oil (100% basis) 1 Low-cost production potential in existing wells 2 
• 
Well information shows uphole Mt. Messenger completion potential in multiple Tikorangi wells 
• 
First successful uphole completion in March 2014 
• 
Three additional uphole completion opportunities identified to date 
• 
Drill pads and gathering systems in place  reduced drilling expense, expedited tie-in, reduced opex New exploration opportunities 2 
• 
More than 18 new Mt. Messenger leads identified on 3D seismic on TWN Licenses 
• 
Additional drill targets on Eltham and Alton permits 10 
1. Prospective resources for Mt. Messenger formation only, shown on a 100% basis. Additional ~880,000 bbl prospective resources estimated for Urenui and Moki formations. Resources attributable to NZEC at 50%. See TWN Resource Estimate and Cautionary Notes. 2. Development and operating costs are to be funded initially by existing working capital and cash flows from production. To carry out all of the planned development activities, the Company is considering a number of options to increase its financial capacity, including additional joint arrangements, commercial arrangements, or other financing alternatives. NZEC requires additional working capital or a funding partner to commence drilling new exploration opportunities.
Tikorangi Limestone 
Drill proven formation 
• 
23.6 million bbl of historical production from Tikorangi on TWN Licenses 
• 
A number of TWN Tikorangi wells produced at IP rates in excess of 3,000 bbl/d 
Drill new wells to access oil reserves 1 
• 
Remaining 2P reserves estimated at 1,852,700 bbl oil, 1.45 Bcf gas, 50,700 bbl NGL (100% basis) 2 
• 
410,300 bbl (100% basis) 2P Undeveloped Reserves attributed to crestal well 2 
- 
Potential crestal well location 
• 
Fractured limestone reservoir oil recoveries can be as high as 65% of OOIP (OIIP range estimated at 25 to 100 million bbl) 
• 
NZEC study indicates higher productivity within 250 metre fault buffer zone 
• 
Two potential locations for second well 11 
1. Development and operating costs are to be funded initially by existing working capital and cash flows from production. NZEC requires additional working capital or a funding partner to commence drilling new exploration opportunities. 2. Reserve estimate completed by Deloitte LLP with an effective date of April 30, 2013. Reserves restricted to the Tikorangi Formation on the Waihapa and Ngaere Permits, attributable to NZEC at 50%. See Cautionary Note Regarding Reserve & Resource Estimates.
Kapuni Group 
Drill-proven formation 
• 
Kapuni Gas Field onshore oil/gas discovery (Shell) producing since 1969 
- 
Estimated ultimate recovery of 1,365 billion cf (Bcf) natural gas and 66 million bbl oil 
• 
TWN Licences tested by four wells  all encountered gas in the Kapuni Group 
• 
Two potential Kapuni well locations identified 1 2013 Deloitte Resource Estimate 2 
• 
Contingent resource: 5.0 Bcf gas, 233,000 bbl NGL (100% basis) 
• 
Prospective resource: 95.8 Bcf gas, 4.5 million bbl NGL (100% basis) 
• 
Discovered PIIP: 13.8 Bcf gas (100% basis) 
• 
Undiscovered PIIP: 261.1 Bcf gas (100% basis) 12 
1. Kapuni exploration contingent on finding a funding partner. 2. Shown on a 100% basis, attributable to NZEC at 50%. See TWN Resource Estimate and Cautionary Notes.
13 
Drilling Inventory
Proprietary Merged 3D Seismic Database 14 
Reprocessed datasets 
• 
Combined five 3D surveys 
• 
Total area covered (full fold) 552 km2 
• 
Pre-stack merge and post-stack time migration complete, pre-stack time migration underway 
• 
Greater geological understanding of basin reduces drilling risk by providing consistent interpretation of seismic anomalies and the correlation with production success and pool size 
Volume 
Vintage 
Area (km2) 
Kapuni 
1989 
305 
Waihapa 
1989 
43 
Eltham 
2002 
20 
Brecon 
2006 
74 
Rotokare 
2012 
110 
ELTHAM 
ALTON 
WAIHAPA 
NGAERE 
TARIKI
Individual 3D Surveys = Mismatched Data 15 
Kapuni 3D 
Rotokare 3D 
1989 
2012
Proprietary Merged 3D Datasets Increase Chance of Success 16 
Kapuni 3D 
Rotokare 3D 
Reprocessed and merged 2013
Inventory of Taranaki Drilling Leads NZEC’s Copper Moki area converted to long-term mining license 17 
Waitapu 
Copper Moki 
Arakamu 
Wairere 
Horoi site
18 
East Coast Basin Oil Shales 
Advancing unconventional oil shales 
• 
Over 300 oil and gas seeps sourced back to two oil shale formations 
• 
NZEC has drilled three wells to take core samples from the Waipawa Black Shale 1 
- 
Late Paleocene 
- 
10-50 metres thick 
- 
TOC typically 2-6%, up to 12% 
- 
S2 typically 5-20 kg HC/t rock 
- 
Kerogen Type II + III 
- 
Shale porosity 5-10% 
- 
Quartz 46-56% 
- 
Clay 28-38% 
- 
Carbonate 0-4% NZEC’s East Cape Permit 
• 
1,048,406 acres 
• 
Exploration period granted to Dec 2018 
• 
Estimated prospective resources 2 
- 
Conventional: 53.3 million bbl oil 
- 
Unconventional: 302.1 million bbl oil 
1. Technical data for Waipawa Black Shale gleaned from both NZEC’s work and other technical work in the region. 2. Resource estimate completed by Deloitte LLP with an effective date of February 1, 2011. Best estimate assuming 9% recovery for conventional resources and 2% recovery for unconventional resources. See Taranaki and East Coast Resource Estimates and Cautionary Note Regarding Reserve & Resource Estimates.
Common shares outstanding at August 2014 
Options outstanding at August 2014 (Exercisable at average $0.55) 
Warrants issued in Oct 2013 Private Placement (Exercisable at $0.45 until Oct 2014) 
Finder’s warrants issued in Private Placement (Exercisable at $0.33 until Oct 2014) 
Fully diluted shares outstanding 
170,873,459 
11,938,200 
24,452,173 
3,045,849 
210,309,681 
Insider ownership (fully diluted) 
52 Week High / Low 
Average Volume (Q2-2014) 
~25% 
$0.46 / $0.09 
~400,000 shares/day 
Current market cap (August 29, 2014) 
2P Reserves 1,649,000 boe 
~$17 million 
NPV $57.9 million 1 
Financial Highlights 2 
Oil produced during six-month period ended June 30, 2014 
Pre-tax revenue during six-month period ended June 30, 2014 
Cumulative third-party revenue earned from Waihapa Production Station (Aug 29, 2014) 
Anticipate revenue commencing September 2014 from gas transportation agreement 
Average realized oil price for six-month period ended June 30, 2014 
Field netback for six-month period ended June 30, 2014 3 
Estimated working capital (August 29, 2014) (excluding materials and supplies of ~NZ$1.9 M) 
38,748 bbl 
$9.4 million 
$1,383,528 
TBD 
$118.65 / bbl 
$63.92 / bbl 
$2.3 million 
Corporate Profile 19 
1. After tax, 10% discount. 2. As per NZEC’s Q2-2014 interim financial statements, filed on August 29, 2014. NZEC’s Q3-2014 financial statements will be released in the last week of November 2014. 3. NZEC’s wells are producing light (~40 API), high-quality oil that sells at Brent pricing. NZEC calculates its netback as the oil sale price less fixed and variable operating costs and a royalty.
Investment Highlights 
• 
Highly prospective property portfolio 
- 
1.15 million total acres on New Zealand’s north island with both conventional and unconventional opportunities 
- 
97,630 acres and a full-cycle production facility in the main Taranaki Basin production fairway 
- 
1,649,000 boe of 2P reserves with an NPV (10% discount) of $57.9 million 1 
• 
Focused in New Zealand, a politically and fiscally stable jurisdiction with a supportive government, excellent tax and royalty regime, and Brent oil pricing 
• 
Experienced New Zealand team with exploration and operations expertise 
• 
Focused on increasing production and cash flow 2 
- 
Optimizing production from existing wells 
- 
Opportunities to advance additional existing wells to production  low-cost workovers, rapid tie-in using existing infrastructure 
• 
Actively engaging in opportunities to increase financial capacity 
• 
Actively seeking farm-in and joint venture partners to fund new drilling 
- 
Significant exploration opportunities across multiple prospective formations 
- 
580,000 boe of contingent resources 3 
- 
195,906,000 boe of prospective conventional resources 3 
- 
456,200,000 boe of prospective unconventional resources 3 20 
1. NZEC’s share of reserves. See detailed Reserve tables and Cautionary Notes. 2. Development and operating costs are to be funded initially by existing working capital and cash flows from production. To carry out all of the planned development activities, the Company is considering a number of options to increase its financial capacity, including additional joint arrangements, commercial arrangements, or other financing alternatives. 3. Resources estimated by Deloitte LLP. Best estimate. The term barrels of oil equivalent (“boe”) may be misleading. A boe conversion ratio of six Mcf: one bbl was used by NZEC. See Resource tables and Cautionary Notes.
Appendix 
21
NZEC Reserve Estimate (net to NZEC) 1 22 
1. Reserves on NZEC’s Copper Moki Permit are restricted to the Mt. Messenger Formation. NZEC’s on the TWN Licenses are restricted to the Tikorangi Formation in the Waihapa and Ngaere permits. See NZEC’s Form 51-101 Statement of Reserves Data dated April 2, 2014, filed on SEDAR at www.sedar.com. 
Proved Developed Producing 517,000 935,000 40,000 713,000 $18,452,900 Proved Developed Non-producing 181,000 554,000 27,000 301,000 $19,574,600 Proved Undeveloped 111,000 88,000 3,000 129,000 $3,806,300 Total Proved 809,000 1,576,000 71,000 1,143,000 $41,833,800 Probable 359,000 683,000 34,000 506,000 $16,072,000 Proved + Probable 1,168,000 2,260,000 104,000 1,649,000 $57,905,800 Notes: 1. Reserve estimates calculated by Deloitte LLP with an effective date of December 31, 2013. 2. bbl – barrels. Mcf – thousand cubic feet of natural gas. boe – barrels of oil equivalent3. Reserves net to NZEC after deduction of royalty obligations to the New Zealand government and Origin Energy Resources NZ (TAWN) Limited. 4. See Cautionary Note Regarding Reserve and Resource Estimates. 3. Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. The boe conversion ratio of 6 Mcf : 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Marketable Oil and Gas ReservesAs at December 31, 2013Forecast Prices and CostsReserves CategoryLight & Medium Oil (bbl) Natural Gas (Mcf) Natural Gas Liquids (bbl) Barrels Oil Equivalent (boe) NPV, After Tax (10% Discount)
TWN Resource Estimate (NZEC’s 50% Interest) 1 
Formation 
Product Type 
Low 
Best 
High 
Contingent Resources 
Miocene Sands (Mt. Messenger) 
Oil (Mbbl) 
17 
44 
101 
Eocene Sands (Kapuni Group) 
Gas (MMcf – sales) 
1,257 
2,518 
5,168 
NGL (Mbbl) 
51 
117 
263 
Total 
BOE (Mboe) 
277 
580 
1,225 
Prospective Resources 
Miocene Sands (Urenui, Mt. Messenger, Moki) 
Oil (Mbbl) 
803 
1,471 
2,866 
Eocene Sands (Kapuni Group) 
Gas (MMcf – sales) 
21,417 
47,919 
113,212 
NGL (Mbbl) 
955 
2,249 
5,688 
Total 
BOE (Mboe) 
5,327 
11,706 
27,422 
Discovered PIIP 
Miocene Sands (Mt. Messenger) 
Oil (Mbbl) 
164 
341 
700 
Eocene Sands (Kapuni Group) 
Gas (MMcf – raw) 
3,606 
6,885 
13,468 
Total 
BOE (Mboe) 
764 
1,488 
2,945 
Undiscovered PIIP 
Miocene Sands (Urenui, Mt. Messenger, Moki) 
Oil (Mbbl) 
5,658 
10,221 
18,902 
Eocene Sands (Kapuni Group) 
Gas (MMcf – raw) 
59,491 
130,540 
302,930 
Total 
BOE (Mboe) 
15,573 
31,978 
69,390 
1. NZEC’s 50% share of TWN Resources as estimated by Deloitte with an effective date of April 30, 2013 assuming 9 to 14% recovery for oil resources and 50% for gas resources. See Cautionary Note Regarding Reserve and Resource Estimates. 23
Taranaki and East Coast Resource Estimates 24 
Low Best High Low Best High TARANAKI BASINEltham (PEP 51150) and188.0 46,444.2 Copper Moki (PMP 55491)3.8 943.7 100% NZECConventional 1231.4 346.8 578.8 19.7 31.6 56.9 Alton (PEP 51151)156.7 38,717.4 65% NZEC / 35% L&MConventional 1224.8 493.7 1,229.7 18.9 45.0 116.9 EAST COAST BASINEast Cape (PEP 52976)4,320.0 1,048,406.3 100% NZEC Conventional 1189.8 615.7 1,997.4 14.6 53.3 195.4 Unconventional 25,747.2 13,148.1 31,838.3 110.3 302.1 906.3 Total4,668.5 1,134,511.6 6,393.2 14,604.3 35,644.2 163.5 432.0 1,275.5 Conventional 1646.0 1,456.2 3,805.9 53.2 129.9 369.2 Unconventional 25,747.2 13,148.1 31,838.3 110.3 302.1 906.3 Resources estimated by Deloitte LLP. Eltham and Copper Moki resources effective date December 31, 2011. Other resources effective date February 1, 2011.1 Assumes 9% recovery. 2 Assumes 2% recovery. Net Permit Area Net Permit Acreage Net Unrisked Undiscovered Petroleum Net Unrisked Prospective Recoverable (MM barrels of oil) (MM barrels of oil)
Historical Production – Tikorangi Formation 
1. Select production data using publicly available information regarding wells that produced oil on the TWN Licences. 
Well name 1 
Max bbl/d 
Total bbl produced 
Ngaere-1 
7,537 
4,337,084 
Ngaere-2 
3,658 
1,002,565 
Ngaere-3 
8,652 
1,089,505 
Toko-2B 
298 
126,286 
Waihapa H-1 
1,953 
45,349 
Waihapa-1B 
4,804 
4,909,317 
Waihapa-2 
3,182 
4,798,752 
Waihapa-4 
2,674 
2,990,189 
Waihapa-5 
979 
91,055 
Waihapa-6A 
4,674 
4,262,707 
23.6 million bbl of historical production 1 25
Board of Directors 26 
Name 
Expertise 
Experience 
John Greig, M.Sc, P.Geo 
Chairman 
• 
Founder and financier of numerous mining and oil and gas companies. Specializing in recognizing undervalued geological assets 
• 
Founder, Director & Officer Sutton Resources, Cumberland Resources Ltd., Eurozinc Mining Corp., Crown Resources Corp. 
John Proust, C.Dir 
CEO, Director 
• 
Proven track record of building companies from grass roots to advanced development. Specializes in identifying undervalued assets on a global basis 
• 
Chairman, Director & CEO, Southern Arc Minerals Inc. 
• 
Chairman, Director & Interim CEO, Eagle Hill Exploration Corp. 
• 
Chairman, Canada Energy Partners Inc. 
Hamish Campbell, B.Sc (Geology), FAusIMM Director 
• 
Professional geologist with 30 years of experience managing exploration programs, evaluation and assessment of joint ventures and acquisitions 
• 
Director of a number of New Zealand limited liability mineral and petroleum companies 
• 
Principal Indonesian mining service company 
David Robinson, B.A, G.C.M 
Director 
• 
Significant business and management experience in New Zealand’s oil and gas industry 
• 
CEO, Petroleum Exploration & Production Assoc. of New Zealand 
• 
Commercial General Manager, Z Energy 
• 
Director, other downstream commercial positions, Shell
NZEC – Corporate Team 
27 
Name 
Expertise 
Experience 
John Proust, C.Dir 
Chief Executive Officer 
• 
Proven track record of building companies from grass roots to advanced development. Specializes in identifying undervalued assets on a global basis 
• 
Chairman, Director & CEO, Southern Arc Minerals Inc. 
• 
Chairman, Director & Interim CEO, Eagle Hill Exploration Corp. 
• 
Chairman, Canada Energy Partners Inc. 
David Robinson, B.A, G.C.M 
CEO New Zealand Business 
• 
Significant business and management experience in New Zealand’s oil and gas industry 
• 
CEO, Petroleum Exploration & Production Assoc. of New Zealand 
• 
Commercial General Manager, Z Energy 
• 
Director, other downstream commercial positions, Shell 
Derek Gardiner, CA 
Chief Financial Officer 
• 
Chartered Accountant and Chartered Corporate Secretary with more than 25 years of experience in the New Zealand oil gas industry 
• 
Commercial and Finance Manager, Origin Energy 
• 
Chief Financial Officer, Austral Pacific Energy 
• 
Numerous senior positions, Shell 
Gerrie van der Westhuizen, CA 
Vice President Finance 
• 
Chartered Accountant with expertise in financial reporting and controls, equity offerings, treasury management and debt structures, tax compliance 
• 
Progressively senior positions with publicly-traded natural resource companies 
• 
Audit Manager, Mining Group, PricewaterhouseCoopers 
Newton Cockerill, B.Com 
Controller 
• 
Accountant with 18 years of finance experience, including 6 years in the oil and gas industry 
• 
Expertise in budgeting, forecasting, strategic planning, financial reporting, consolidation and control 
• 
Progressively senior positions within private sector 
• 
Recent roles include 5 years with Origin Energy as Business Performance and Accounting Manager, and 5 years with Orange Plc in the UK as Senior Consolidation Analyst 
Rhylin Bailie, B.ES 
VP Communications & Investor Relations 
• 
More than 18 years of experience in the resource industry, in both finance and investor relations 
• 
Professional writer and editor 
• 
Director Communications & Investor Relations, NovaGold Resources Inc. 
• 
Supervisor Treasury Administration, Placer Dome Inc. 
Jonathan Bahnuik, LL.B, MBA 
General Counsel 
• 
More than 10 years of experience providing legal advice to junior oil and gas companies, including upstream, midstream and transactional matters 
• 
General Counsel to several TSX-V listed companies 
• 
Partner at a Calgary based boutique corporate commercial law firm 
Eileen Au, B.Sc 
Corporate Secretary 
• 
More than 16 years of experience overseeing corporate governance and corporate affairs for publicly-listed resource companies 
• 
Corporate Secretary for various public and private resource companies
NZEC – Operations & Technical Team 28 
Name 
Expertise 
Experience 
Mike Oakes 
General Manager 
Operations 
• 
More than 30 years of international oil and gas experience overseeing design, commissioning and start up, staffing and operation of oil and gas fields and production facilities 
• 
Operations Manager, Asset Manager and Operational Excellence Advisor, Origin Energy 
• 
Technical Advisor, Total E&P Borneo 
Stewart Angelo 
Engineering & Maintenance Manager 
• 
25 years in oil and gas midstream assets focused around development and implementation of procedures and processes for asset management systems 
• 
Engineering Officer with New Zealand Merchant Navy 
• 
Maintenance Engineer, Fletcher Challenge 
• 
Director of Productive Maintenance 
Dan MacDonald, B.Sc 
Drilling Manager 
• 
Mechanical engineer with 30 years of experience 
• 
Drilling and completion work, design, approval and implementation of drilling programs 
Toka Walden 
Land Manager 
• 
Senior Manager, New Zealand Dept. of Conservation 
• 
Negotiating access provisions and facilitating resource consent process, assisting with community relationship building 
Peter Kingsnorth 
Plant Superintendent 
• 
Mechanic with over 25 years of experience in oil and gas plant commissioning and start up, staffing and operation of oil and gas fields and production facilities 
• 
Mechanical Supervisor, Fitzroy Engineering 
• 
Project Operations Lead , Ahuroa Gas Storage Facility 
• 
Operations Team Leader, Origin Energy 
Pono Cooper 
Field Superintendent 
• 
Extensive experience with wireline and well head surface facilities. Supervising installation of well testing facilities. Over 24 years of oil and gas experience. Experienced in waxy oil fields and pumping wells. 
• 
Field and Plant Operations, Shell Todd Oil Services 
• 
Field Supervisor, Swift Energy 
• 
Field and Operations Superintendent, Origin Energy 
Dr. Richard Kellett, B.Sc (Hons), PhD, PGeoph 
• 
Geoscientist with worldwide exploration and business development experience 
• 
Seismic interpretation, geophysical survey design and prospect evaluation 
Dr. Simon Ward, B.Sc (Hons), PhD 
• 
Petroleum geology related to the Taranaki and other New Zealand basins 
• 
Drilling risk assessment and well design 
• 
Production analysis and reporting, and regulatory compliance
Analyst Coverage 29 
Company 
Analyst 
Contact 
Credit Suisse 
David Phung 
403-476-6023 
Dundee Capital Markets 
David Dudlyke 
44-203-440-6870 
Mackie Research 
Bill Newman 
403-750-1297 
M Partners 
David Buma 
416-603-7381 
Prosdocimi 
Brian O’Connell 
44-207-199-3000
Contact NZEC 30 
Corporate Head Office 
John Proust, Chief Executive Officer 
Rhylin Bailie, VP Investor Relations 
North America Toll-free: 1-855-630-8997 
Phone: + 1-604-630-8997 
New Zealand Operations Office 
David Robinson, CEO New Zealand Business 
Phone: + 646-757-4470 
info@NewZealandEnergy.com 
www.NewZealandEnergy.com

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New Zealand Energy Corporate Presentation

  • 1. TSX-V: NZ OTCQX: NZERF Waihapa Production Station Corporate Presentation September 3, 2014
  • 2. Cautionary Notes Forward-looking Statements This document contains certain 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 “being”, “will”, “until”, “estimate”, “forecast”, “will be”, “is considering”, “will proceed”, “plans”, “reactivate”, “recommence”, “would be”, “could be”, “will bring”, “could bring”, “expected”, 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 in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. This document contains forward-looking statements and assumptions pertaining to the following: business strategy, strength and focus; the granting of regulatory approvals; the timing for receipt of regulatory approvals; geological and engineering estimates relating to the resource potential of the Properties; the estimated quantity and quality of the Company’s oil and natural gas resources; supply and demand for oil and natural gas and the Company’s ability to market crude oil, natural gas and; expectations regarding the ability to raise capital and to continually add to reserves and resources through acquisitions and development; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the ability of the Company’s subsidiaries to obtain mining permits and access rights in respect of land and resource and environmental consents; the recoverability of the Company’s crude oil, natural gas reserves and resources; and future capital expenditures to be made by the Company. Actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth below and elsewhere in the document, such as the speculative nature of exploration, appraisal and development of oil and natural gas properties; uncertainties associated with estimating oil and natural gas resources; changes in the cost of operations, including costs of extracting and delivering oil and natural gas to market, that affect potential profitability of oil 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 the Company from raising the funds necessary for exploration and development on acceptable terms or at all; global financial market events that cause significant volatility in commodity prices; unexpected costs or liabilities for environmental matters; competition for, among other things, capital, acquisitions of resources, skilled personnel, and access to equipment and services required for exploration, development and production; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failure to realize the anticipated benefits of acquisitions; and other factors. Readers are cautioned that the foregoing list of factors is not exhaustive. Statements relating to “reserves and resources” are deemed 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 in the future. The forward-looking statements contained in the document are expressly qualified by this cautionary statement. These statements speak only as of the date of this document and the Company does not undertake to update any forward-looking statements that are contained in this document, except in accordance with applicable securities laws. More information is available in the Company’s Annual Information Form for the year ended December 31, 2012, filed on June 17, 2013 on SEDAR at www.sedar.com. Reserve & Resource Estimates The oil and gas reserve and resource calculations and net present value projections were estimated in accordance with the Canadian Oil and Gas Evaluation Handbook (“COGEH”) and National Instrument 51-101 (“NI 51-101”). The term barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of six Mcf: one bbl was used by NZEC. This conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Reserves are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on: the analysis of drilling, geological, geophysical, and engineering data; the use of established technology; and specified economic conditions, which are generally accepted as being reasonable. Reserves are classified according to the degree of certainty associated with the estimates. Proved Reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable Reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. Revenue projections presented are based in part on forecasts of market prices, current exchange rates, inflation, market demand and government policy which are subject to uncertainties and may in future differ materially from the forecasts above. Present values of future net revenues do not necessarily represent the fair market value of the reserves evaluated. Information concerning reserves may also be deemed to be forward looking as estimates imply that the reserves described can be profitably produced in the future. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause the actual results to differ from those anticipated. Contingent resources are those quantities of oil and gas estimated on a given date to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political and regulatory matters, or a lack of markets. Prospective resources are those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations. Undiscovered resources means those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered. The resources reported are estimates only and there is no certainty that any portion of the reported resources will be discovered and that, if discovered, it will be economically viable or technically feasible to produce. More information is available in the Company’s Form F1-101F1 Statement of Reserves Data and Other Oil and Gas Information dated April 2, 2014, which is filed on SEDAR at www.sedar.com. 2
  • 3. Fully Integrated Upstream/Midstream Company • 1.15 million total acres on New Zealand’s north island with both conventional and unconventional opportunities • 97,637 acres and a full-cycle production facility in the main Taranaki Basin production fairway • Experienced New Zealand team with exploration and operations expertise • Focused on increasing production and cash flow (August 2014: 205 bbl/d) 1 - Optimizing production from existing wells - Advancing previously drilled wells to production  low-cost workovers, rapid tie-in using existing infrastructure - New exploration opportunities across multiple prospective formations 2 3 1. Development and operating costs are to be funded initially by existing working capital and cash flows from production. To carry out all of the planned development activities, the Company is considering a number of options to increase its financial capacity, including additional joint arrangements, commercial arrangements, or other financing alternatives. 2. NZEC requires additional working capital or a funding partner to commence drilling new exploration opportunities.
  • 4. Asset Overview – New Zealand’s North Island 4 Permit Working Interest Net Acres 2P boe Reserves 1 Contingent Resource 1 Prospective Resource 1 Taranaki Basin – Conventional Targets Copper Moki 100% 944 536,000 - - Eltham 100% 46,444 - - 31.6 MM bbl Alton 65% 38,717 - - 45.0 MM bbl TWN 50% 11,525 1,113,000 580 M boe 11.7 MM boe East Coast Basin – Conventional and Unconventional Targets East Cape 100% 1,048,406 - - 355.4 MM bbl Total 1,146,036 1,649,000 boe 2P Reserves net to NZEC (80% oil) $57.9 million NPV (after tax, 10% discount) 1. Reserves and resources estimated by Deloitte LLP. The term barrels of oil equivalent (“boe”) may be misleading. A boe conversion ratio of six Mcf: one bbl was used by NZEC. For effective dates and estimated recovery rates, see NZEC’s most recent annual and interim reserve and resource reports filed on SEDAR in April 2014, the Reserve and Resource tables in this presentation, and the Cautionary Notes. Reserves are updated annually. Eltham Alton East Cape TWN
  • 5. Multiple Prospective Conventional Formations in Taranaki Basin 5 Moki Tikorangi Kapuni Mt Messenger Kapuni Group 2,500 metres 3,000 metres 3,500 metres 4,000 metres Approximate Depth
  • 6. NZEC Production & Development Wells Status at August 29, 2014 6
  • 8. 8 Oil facility • 25,000 bbl/d oil handling facility • 7,800 bbl oil storage capacity • 49-km 15,500 bbl/d oil sales pipeline from Waihapa to Shell’s Omata Tank Farm Gas facility • 45 mmcf/d separation and compression capacity • 70 tonne/d LPG processing capacity • 51-km 8-inch gas sales pipeline from Waihapa to New Plymouth • Storage bullets for LPG Water disposal operations • 3,600 bbl water storage capacity • 18,000 bbl/d water injection capacity Includes 100 acres of land providing a buffer zone surrounding the facility Waihapa Production Station Assets Full-cycle facility with gathering and sales pipeline infrastructure 1. NZEC and L&M Energy have formed a 50/50 joint venture to explore, develop and operate the TWN Licenses and Waihapa Production Station.
  • 9. NZEC’s TWN Management & Operational Experience 9 NZEC Position Years Relevant O&G Experience Years Experience with TWN Assets Previous TWN Associated Roles Mike Oakes, GM Operations 35+ 8 NZ Asset Manager (Origin), Plant Super & Commissioning Supervisor (Fletcher Energy) Derek Gardiner, CFO 25 3 Commercial & Finance Manager (Origin) Newton Cockerill, Controller 5 5 Business Performance & Accounting Manager (Origin) Stewart Angelo, Engineering & Maintenance Manager 25+ 15 Maintenance & Engineering Consultant (Origin), Maintenance Superintendent (Fletcher Challenge) Peter Kingsnorth, Plant Superintendent 25+ 20 Shift Supervisor (Origin), Plant Operator (Fletcher Challenge and Petrocorp) Pono Cooper, Field Superintendent 25+ 5 Well Services Supervisor (Swift), Waihapa Operations Superintendent (Origin)
  • 10. Mt. Messenger Opportunities Drill-proven formation • Significant discoveries to the west (TAG: Cheal), south (NZEC: Copper Moki, Waitapu) and east (Kea: Puka) • Contingent resources: 88,000 bbl oil (100% basis) 1 • Prospective resources: 2,061,000 bbl oil (100% basis) 1 Low-cost production potential in existing wells 2 • Well information shows uphole Mt. Messenger completion potential in multiple Tikorangi wells • First successful uphole completion in March 2014 • Three additional uphole completion opportunities identified to date • Drill pads and gathering systems in place  reduced drilling expense, expedited tie-in, reduced opex New exploration opportunities 2 • More than 18 new Mt. Messenger leads identified on 3D seismic on TWN Licenses • Additional drill targets on Eltham and Alton permits 10 1. Prospective resources for Mt. Messenger formation only, shown on a 100% basis. Additional ~880,000 bbl prospective resources estimated for Urenui and Moki formations. Resources attributable to NZEC at 50%. See TWN Resource Estimate and Cautionary Notes. 2. Development and operating costs are to be funded initially by existing working capital and cash flows from production. To carry out all of the planned development activities, the Company is considering a number of options to increase its financial capacity, including additional joint arrangements, commercial arrangements, or other financing alternatives. NZEC requires additional working capital or a funding partner to commence drilling new exploration opportunities.
  • 11. Tikorangi Limestone Drill proven formation • 23.6 million bbl of historical production from Tikorangi on TWN Licenses • A number of TWN Tikorangi wells produced at IP rates in excess of 3,000 bbl/d Drill new wells to access oil reserves 1 • Remaining 2P reserves estimated at 1,852,700 bbl oil, 1.45 Bcf gas, 50,700 bbl NGL (100% basis) 2 • 410,300 bbl (100% basis) 2P Undeveloped Reserves attributed to crestal well 2 - Potential crestal well location • Fractured limestone reservoir oil recoveries can be as high as 65% of OOIP (OIIP range estimated at 25 to 100 million bbl) • NZEC study indicates higher productivity within 250 metre fault buffer zone • Two potential locations for second well 11 1. Development and operating costs are to be funded initially by existing working capital and cash flows from production. NZEC requires additional working capital or a funding partner to commence drilling new exploration opportunities. 2. Reserve estimate completed by Deloitte LLP with an effective date of April 30, 2013. Reserves restricted to the Tikorangi Formation on the Waihapa and Ngaere Permits, attributable to NZEC at 50%. See Cautionary Note Regarding Reserve & Resource Estimates.
  • 12. Kapuni Group Drill-proven formation • Kapuni Gas Field onshore oil/gas discovery (Shell) producing since 1969 - Estimated ultimate recovery of 1,365 billion cf (Bcf) natural gas and 66 million bbl oil • TWN Licences tested by four wells  all encountered gas in the Kapuni Group • Two potential Kapuni well locations identified 1 2013 Deloitte Resource Estimate 2 • Contingent resource: 5.0 Bcf gas, 233,000 bbl NGL (100% basis) • Prospective resource: 95.8 Bcf gas, 4.5 million bbl NGL (100% basis) • Discovered PIIP: 13.8 Bcf gas (100% basis) • Undiscovered PIIP: 261.1 Bcf gas (100% basis) 12 1. Kapuni exploration contingent on finding a funding partner. 2. Shown on a 100% basis, attributable to NZEC at 50%. See TWN Resource Estimate and Cautionary Notes.
  • 14. Proprietary Merged 3D Seismic Database 14 Reprocessed datasets • Combined five 3D surveys • Total area covered (full fold) 552 km2 • Pre-stack merge and post-stack time migration complete, pre-stack time migration underway • Greater geological understanding of basin reduces drilling risk by providing consistent interpretation of seismic anomalies and the correlation with production success and pool size Volume Vintage Area (km2) Kapuni 1989 305 Waihapa 1989 43 Eltham 2002 20 Brecon 2006 74 Rotokare 2012 110 ELTHAM ALTON WAIHAPA NGAERE TARIKI
  • 15. Individual 3D Surveys = Mismatched Data 15 Kapuni 3D Rotokare 3D 1989 2012
  • 16. Proprietary Merged 3D Datasets Increase Chance of Success 16 Kapuni 3D Rotokare 3D Reprocessed and merged 2013
  • 17. Inventory of Taranaki Drilling Leads NZEC’s Copper Moki area converted to long-term mining license 17 Waitapu Copper Moki Arakamu Wairere Horoi site
  • 18. 18 East Coast Basin Oil Shales Advancing unconventional oil shales • Over 300 oil and gas seeps sourced back to two oil shale formations • NZEC has drilled three wells to take core samples from the Waipawa Black Shale 1 - Late Paleocene - 10-50 metres thick - TOC typically 2-6%, up to 12% - S2 typically 5-20 kg HC/t rock - Kerogen Type II + III - Shale porosity 5-10% - Quartz 46-56% - Clay 28-38% - Carbonate 0-4% NZEC’s East Cape Permit • 1,048,406 acres • Exploration period granted to Dec 2018 • Estimated prospective resources 2 - Conventional: 53.3 million bbl oil - Unconventional: 302.1 million bbl oil 1. Technical data for Waipawa Black Shale gleaned from both NZEC’s work and other technical work in the region. 2. Resource estimate completed by Deloitte LLP with an effective date of February 1, 2011. Best estimate assuming 9% recovery for conventional resources and 2% recovery for unconventional resources. See Taranaki and East Coast Resource Estimates and Cautionary Note Regarding Reserve & Resource Estimates.
  • 19. Common shares outstanding at August 2014 Options outstanding at August 2014 (Exercisable at average $0.55) Warrants issued in Oct 2013 Private Placement (Exercisable at $0.45 until Oct 2014) Finder’s warrants issued in Private Placement (Exercisable at $0.33 until Oct 2014) Fully diluted shares outstanding 170,873,459 11,938,200 24,452,173 3,045,849 210,309,681 Insider ownership (fully diluted) 52 Week High / Low Average Volume (Q2-2014) ~25% $0.46 / $0.09 ~400,000 shares/day Current market cap (August 29, 2014) 2P Reserves 1,649,000 boe ~$17 million NPV $57.9 million 1 Financial Highlights 2 Oil produced during six-month period ended June 30, 2014 Pre-tax revenue during six-month period ended June 30, 2014 Cumulative third-party revenue earned from Waihapa Production Station (Aug 29, 2014) Anticipate revenue commencing September 2014 from gas transportation agreement Average realized oil price for six-month period ended June 30, 2014 Field netback for six-month period ended June 30, 2014 3 Estimated working capital (August 29, 2014) (excluding materials and supplies of ~NZ$1.9 M) 38,748 bbl $9.4 million $1,383,528 TBD $118.65 / bbl $63.92 / bbl $2.3 million Corporate Profile 19 1. After tax, 10% discount. 2. As per NZEC’s Q2-2014 interim financial statements, filed on August 29, 2014. NZEC’s Q3-2014 financial statements will be released in the last week of November 2014. 3. NZEC’s wells are producing light (~40 API), high-quality oil that sells at Brent pricing. NZEC calculates its netback as the oil sale price less fixed and variable operating costs and a royalty.
  • 20. Investment Highlights • Highly prospective property portfolio - 1.15 million total acres on New Zealand’s north island with both conventional and unconventional opportunities - 97,630 acres and a full-cycle production facility in the main Taranaki Basin production fairway - 1,649,000 boe of 2P reserves with an NPV (10% discount) of $57.9 million 1 • Focused in New Zealand, a politically and fiscally stable jurisdiction with a supportive government, excellent tax and royalty regime, and Brent oil pricing • Experienced New Zealand team with exploration and operations expertise • Focused on increasing production and cash flow 2 - Optimizing production from existing wells - Opportunities to advance additional existing wells to production  low-cost workovers, rapid tie-in using existing infrastructure • Actively engaging in opportunities to increase financial capacity • Actively seeking farm-in and joint venture partners to fund new drilling - Significant exploration opportunities across multiple prospective formations - 580,000 boe of contingent resources 3 - 195,906,000 boe of prospective conventional resources 3 - 456,200,000 boe of prospective unconventional resources 3 20 1. NZEC’s share of reserves. See detailed Reserve tables and Cautionary Notes. 2. Development and operating costs are to be funded initially by existing working capital and cash flows from production. To carry out all of the planned development activities, the Company is considering a number of options to increase its financial capacity, including additional joint arrangements, commercial arrangements, or other financing alternatives. 3. Resources estimated by Deloitte LLP. Best estimate. The term barrels of oil equivalent (“boe”) may be misleading. A boe conversion ratio of six Mcf: one bbl was used by NZEC. See Resource tables and Cautionary Notes.
  • 22. NZEC Reserve Estimate (net to NZEC) 1 22 1. Reserves on NZEC’s Copper Moki Permit are restricted to the Mt. Messenger Formation. NZEC’s on the TWN Licenses are restricted to the Tikorangi Formation in the Waihapa and Ngaere permits. See NZEC’s Form 51-101 Statement of Reserves Data dated April 2, 2014, filed on SEDAR at www.sedar.com. Proved Developed Producing 517,000 935,000 40,000 713,000 $18,452,900 Proved Developed Non-producing 181,000 554,000 27,000 301,000 $19,574,600 Proved Undeveloped 111,000 88,000 3,000 129,000 $3,806,300 Total Proved 809,000 1,576,000 71,000 1,143,000 $41,833,800 Probable 359,000 683,000 34,000 506,000 $16,072,000 Proved + Probable 1,168,000 2,260,000 104,000 1,649,000 $57,905,800 Notes: 1. Reserve estimates calculated by Deloitte LLP with an effective date of December 31, 2013. 2. bbl – barrels. Mcf – thousand cubic feet of natural gas. boe – barrels of oil equivalent3. Reserves net to NZEC after deduction of royalty obligations to the New Zealand government and Origin Energy Resources NZ (TAWN) Limited. 4. See Cautionary Note Regarding Reserve and Resource Estimates. 3. Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. The boe conversion ratio of 6 Mcf : 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Marketable Oil and Gas ReservesAs at December 31, 2013Forecast Prices and CostsReserves CategoryLight & Medium Oil (bbl) Natural Gas (Mcf) Natural Gas Liquids (bbl) Barrels Oil Equivalent (boe) NPV, After Tax (10% Discount)
  • 23. TWN Resource Estimate (NZEC’s 50% Interest) 1 Formation Product Type Low Best High Contingent Resources Miocene Sands (Mt. Messenger) Oil (Mbbl) 17 44 101 Eocene Sands (Kapuni Group) Gas (MMcf – sales) 1,257 2,518 5,168 NGL (Mbbl) 51 117 263 Total BOE (Mboe) 277 580 1,225 Prospective Resources Miocene Sands (Urenui, Mt. Messenger, Moki) Oil (Mbbl) 803 1,471 2,866 Eocene Sands (Kapuni Group) Gas (MMcf – sales) 21,417 47,919 113,212 NGL (Mbbl) 955 2,249 5,688 Total BOE (Mboe) 5,327 11,706 27,422 Discovered PIIP Miocene Sands (Mt. Messenger) Oil (Mbbl) 164 341 700 Eocene Sands (Kapuni Group) Gas (MMcf – raw) 3,606 6,885 13,468 Total BOE (Mboe) 764 1,488 2,945 Undiscovered PIIP Miocene Sands (Urenui, Mt. Messenger, Moki) Oil (Mbbl) 5,658 10,221 18,902 Eocene Sands (Kapuni Group) Gas (MMcf – raw) 59,491 130,540 302,930 Total BOE (Mboe) 15,573 31,978 69,390 1. NZEC’s 50% share of TWN Resources as estimated by Deloitte with an effective date of April 30, 2013 assuming 9 to 14% recovery for oil resources and 50% for gas resources. See Cautionary Note Regarding Reserve and Resource Estimates. 23
  • 24. Taranaki and East Coast Resource Estimates 24 Low Best High Low Best High TARANAKI BASINEltham (PEP 51150) and188.0 46,444.2 Copper Moki (PMP 55491)3.8 943.7 100% NZECConventional 1231.4 346.8 578.8 19.7 31.6 56.9 Alton (PEP 51151)156.7 38,717.4 65% NZEC / 35% L&MConventional 1224.8 493.7 1,229.7 18.9 45.0 116.9 EAST COAST BASINEast Cape (PEP 52976)4,320.0 1,048,406.3 100% NZEC Conventional 1189.8 615.7 1,997.4 14.6 53.3 195.4 Unconventional 25,747.2 13,148.1 31,838.3 110.3 302.1 906.3 Total4,668.5 1,134,511.6 6,393.2 14,604.3 35,644.2 163.5 432.0 1,275.5 Conventional 1646.0 1,456.2 3,805.9 53.2 129.9 369.2 Unconventional 25,747.2 13,148.1 31,838.3 110.3 302.1 906.3 Resources estimated by Deloitte LLP. Eltham and Copper Moki resources effective date December 31, 2011. Other resources effective date February 1, 2011.1 Assumes 9% recovery. 2 Assumes 2% recovery. Net Permit Area Net Permit Acreage Net Unrisked Undiscovered Petroleum Net Unrisked Prospective Recoverable (MM barrels of oil) (MM barrels of oil)
  • 25. Historical Production – Tikorangi Formation 1. Select production data using publicly available information regarding wells that produced oil on the TWN Licences. Well name 1 Max bbl/d Total bbl produced Ngaere-1 7,537 4,337,084 Ngaere-2 3,658 1,002,565 Ngaere-3 8,652 1,089,505 Toko-2B 298 126,286 Waihapa H-1 1,953 45,349 Waihapa-1B 4,804 4,909,317 Waihapa-2 3,182 4,798,752 Waihapa-4 2,674 2,990,189 Waihapa-5 979 91,055 Waihapa-6A 4,674 4,262,707 23.6 million bbl of historical production 1 25
  • 26. Board of Directors 26 Name Expertise Experience John Greig, M.Sc, P.Geo Chairman • Founder and financier of numerous mining and oil and gas companies. Specializing in recognizing undervalued geological assets • Founder, Director & Officer Sutton Resources, Cumberland Resources Ltd., Eurozinc Mining Corp., Crown Resources Corp. John Proust, C.Dir CEO, Director • Proven track record of building companies from grass roots to advanced development. Specializes in identifying undervalued assets on a global basis • Chairman, Director & CEO, Southern Arc Minerals Inc. • Chairman, Director & Interim CEO, Eagle Hill Exploration Corp. • Chairman, Canada Energy Partners Inc. Hamish Campbell, B.Sc (Geology), FAusIMM Director • Professional geologist with 30 years of experience managing exploration programs, evaluation and assessment of joint ventures and acquisitions • Director of a number of New Zealand limited liability mineral and petroleum companies • Principal Indonesian mining service company David Robinson, B.A, G.C.M Director • Significant business and management experience in New Zealand’s oil and gas industry • CEO, Petroleum Exploration & Production Assoc. of New Zealand • Commercial General Manager, Z Energy • Director, other downstream commercial positions, Shell
  • 27. NZEC – Corporate Team 27 Name Expertise Experience John Proust, C.Dir Chief Executive Officer • Proven track record of building companies from grass roots to advanced development. Specializes in identifying undervalued assets on a global basis • Chairman, Director & CEO, Southern Arc Minerals Inc. • Chairman, Director & Interim CEO, Eagle Hill Exploration Corp. • Chairman, Canada Energy Partners Inc. David Robinson, B.A, G.C.M CEO New Zealand Business • Significant business and management experience in New Zealand’s oil and gas industry • CEO, Petroleum Exploration & Production Assoc. of New Zealand • Commercial General Manager, Z Energy • Director, other downstream commercial positions, Shell Derek Gardiner, CA Chief Financial Officer • Chartered Accountant and Chartered Corporate Secretary with more than 25 years of experience in the New Zealand oil gas industry • Commercial and Finance Manager, Origin Energy • Chief Financial Officer, Austral Pacific Energy • Numerous senior positions, Shell Gerrie van der Westhuizen, CA Vice President Finance • Chartered Accountant with expertise in financial reporting and controls, equity offerings, treasury management and debt structures, tax compliance • Progressively senior positions with publicly-traded natural resource companies • Audit Manager, Mining Group, PricewaterhouseCoopers Newton Cockerill, B.Com Controller • Accountant with 18 years of finance experience, including 6 years in the oil and gas industry • Expertise in budgeting, forecasting, strategic planning, financial reporting, consolidation and control • Progressively senior positions within private sector • Recent roles include 5 years with Origin Energy as Business Performance and Accounting Manager, and 5 years with Orange Plc in the UK as Senior Consolidation Analyst Rhylin Bailie, B.ES VP Communications & Investor Relations • More than 18 years of experience in the resource industry, in both finance and investor relations • Professional writer and editor • Director Communications & Investor Relations, NovaGold Resources Inc. • Supervisor Treasury Administration, Placer Dome Inc. Jonathan Bahnuik, LL.B, MBA General Counsel • More than 10 years of experience providing legal advice to junior oil and gas companies, including upstream, midstream and transactional matters • General Counsel to several TSX-V listed companies • Partner at a Calgary based boutique corporate commercial law firm Eileen Au, B.Sc Corporate Secretary • More than 16 years of experience overseeing corporate governance and corporate affairs for publicly-listed resource companies • Corporate Secretary for various public and private resource companies
  • 28. NZEC – Operations & Technical Team 28 Name Expertise Experience Mike Oakes General Manager Operations • More than 30 years of international oil and gas experience overseeing design, commissioning and start up, staffing and operation of oil and gas fields and production facilities • Operations Manager, Asset Manager and Operational Excellence Advisor, Origin Energy • Technical Advisor, Total E&P Borneo Stewart Angelo Engineering & Maintenance Manager • 25 years in oil and gas midstream assets focused around development and implementation of procedures and processes for asset management systems • Engineering Officer with New Zealand Merchant Navy • Maintenance Engineer, Fletcher Challenge • Director of Productive Maintenance Dan MacDonald, B.Sc Drilling Manager • Mechanical engineer with 30 years of experience • Drilling and completion work, design, approval and implementation of drilling programs Toka Walden Land Manager • Senior Manager, New Zealand Dept. of Conservation • Negotiating access provisions and facilitating resource consent process, assisting with community relationship building Peter Kingsnorth Plant Superintendent • Mechanic with over 25 years of experience in oil and gas plant commissioning and start up, staffing and operation of oil and gas fields and production facilities • Mechanical Supervisor, Fitzroy Engineering • Project Operations Lead , Ahuroa Gas Storage Facility • Operations Team Leader, Origin Energy Pono Cooper Field Superintendent • Extensive experience with wireline and well head surface facilities. Supervising installation of well testing facilities. Over 24 years of oil and gas experience. Experienced in waxy oil fields and pumping wells. • Field and Plant Operations, Shell Todd Oil Services • Field Supervisor, Swift Energy • Field and Operations Superintendent, Origin Energy Dr. Richard Kellett, B.Sc (Hons), PhD, PGeoph • Geoscientist with worldwide exploration and business development experience • Seismic interpretation, geophysical survey design and prospect evaluation Dr. Simon Ward, B.Sc (Hons), PhD • Petroleum geology related to the Taranaki and other New Zealand basins • Drilling risk assessment and well design • Production analysis and reporting, and regulatory compliance
  • 29. Analyst Coverage 29 Company Analyst Contact Credit Suisse David Phung 403-476-6023 Dundee Capital Markets David Dudlyke 44-203-440-6870 Mackie Research Bill Newman 403-750-1297 M Partners David Buma 416-603-7381 Prosdocimi Brian O’Connell 44-207-199-3000
  • 30. Contact NZEC 30 Corporate Head Office John Proust, Chief Executive Officer Rhylin Bailie, VP Investor Relations North America Toll-free: 1-855-630-8997 Phone: + 1-604-630-8997 New Zealand Operations Office David Robinson, CEO New Zealand Business Phone: + 646-757-4470 info@NewZealandEnergy.com www.NewZealandEnergy.com