Mr. James Willis reports

NEW ZEALAND ENERGY CORP ANNOUNCES 2023 QUARTER 1 RESULTS

New Zealand Energy Corp. has filed with Canadian regulatory authorities its first quarter 2023 consolidated financial results and management's discussion and analysis report, which documents are available on the company's website and on SEDAR.

Commenting on the company's first quarter 2023 results, chairman James Willis said: "The results saw a total comprehensive loss of $453,500 (2022: loss of $99,004). There was a $77,276 decrease in cash held ($444,944 was held at the end of the quarter). Cash used in operating activities for the quarter was $56,152 (2022: provided $232,065). The company achieved average net daily production of approximately 52 barrels of oil equivalent per day (97 per cent oil) through Q1."

With respect to development operations, Mr. Willis commented, "The company is focused on Tariki including advancing gas storage."

We seek Safe Harbor.