Mr. Max Sali reports

MONUMENTAL ENERGY ANNOUNCES COMMERCIAL PRODUCTION AT WAIHAPA H1

Monumental Energy Corp. has restarted commercial production from all seven perforations in the Mount Messenger formation located near the top of the Waihapa H1 well. The Waihapa H1 well is located within 100 metres of the Waihapa production facility, and oil is being sent through the pipeline into a holding tank at the facility.

Monumental and New Zealand Energy Corp. entered into a financing agreement (see the company's news releases dated Jan. 12, 2026, March 5, 2026, and March 10, 2026), which enables Monumental to participate in mutually agreed-upon appraisal and development workover projects with NZEC aimed at increasing oil and gas production from the area covered by petroleum mining licences PML 38140 and PML 38141. The Waihapa H1 well is another project the parties have chosen under the financing agreement. NZEC holds a 50-per-cent interest in the licences, both being located in the onshore Taranaki basin, New Zealand.

About Waihapa H1

Waihapa H1 was drilled in 2008 and produced oil from the lower Tikorangi formation at rates above 1,500 barrels a day. The NZEC and Monumental exploration team have identified 60 metres of prospective bypass pay in the Mount Messenger formation above the Tikorangi formation, which is the same zone that was perforated at Ngaere-1 (see the company's March 5, 2026, news release).

Seven six-metre perforations all encountered natural, high-pressured oil flow with no additional stimulation besides a perforation gun. Oil production started when the first perforated areas came on line as of Friday, March 13, 2026. Monumental expects to publish the stabilized flow rate and total production of oil and gas once testing has been completed and the data assessed.

The Mount Messenger formation is the primary zone in the highly successful adjacent Cheal oil field, which has produced roughly 12 million barrels of oil from a relatively small area size.

The Waihapa H1 well is located within sight of the Waihapa production facility, allowing associated gas to be connected directly to the facility for immediate processing and production. Current natural gas prices in New Zealand range from approximately $10 (U.S.) to $15 (U.S.) per thousand cubic feet, making it one of the highest gas price environments.

Maximilian Sali, chief executive officer, commented: "The well was perforated during daylight hours over five days, and, in the evenings, the well was flowed to clear perforation debris and to understand if each perforated zone added flow capacity and ultimately reserves. Interestingly, each day the well flowed better, and all seven perforations performed better than expected. We are not currently able to announce a stable flow rate as we do not have enough capacity on site and tanker trucks to be able to handle the volume. Currently, three tanker trucks are going back and forth from Waihapa H1 to the port in New Plymouth. Gas is also being processed to the tune of roughly one TJ of gas, which is sold immediately to market. I would like to note that New Zealand has high gas prices, and the current price of Brent crude is above $100 (U.S.) per barrel."

About Monumental Energy Corp.

Monumental is an exploration company focused on the acquisition, exploration and development of properties in the critical and clean energy sectors. The company is building a strategic position in New Zealand's onshore Taranaki basin, targeting near-term oil production and longer-term natural gas development.

The company has a financing agreement with New Zealand Energy targeting production optimization and workover opportunities across existing fields. The company also holds securities of NZEC and a call option and royalty interest related to the Copper Moki wells.

Monumental additionally maintains exposure to the critical mineral sector through a 2-per-cent net smelter return royalty on Summit Nanotech's interest in the Salar de Turi lithium project in Chile.

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