Mr. Frank Jacobs reports

NEW ZEALAND ENERGY CORP. ANNOUNCES PRIVATE PLACEMENT FOR UP TO C$3,000,000 AND APPOINTMENT OF NEW DIRECTOR

New Zealand Energy Corp. intends to complete a non-brokered private placement of common shares of the company at a price of 18 cents per common share for gross proceeds of up to $3-million.

The net proceeds from the offering will be used to finance continuing work on Tariki gas storage project, to terminate the outstanding loan currently held by Vliet Financing B.V. in accordance with the agreement previously announced on May 12, 2025, and June 25, 2025, and for general working capital. Vliet is a company controlled by Frank Jacobs, chairman and a director of New Zealand Energy, and therefore the termination of the outstanding loan would be a related party transaction for the purposes of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. New Zealand Energy has determined that exemptions from the various requirements of the related party policies are available in connection with the proposed termination of the outstanding loan (Formal Valuation -- Issuer Not Listed on Specified Markets; Minority Approval -- Fair Market Value Not More Than $2.5-million).

Several of the company's significant shareholders have indicated they will participate in the offering. The closing of the offering may occur in one or more tranches, the first of which is expected to close on or about July 11, 2025.

Closing of the offering is subject to receipt of all regulatory approvals, including approval of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months plus one day from the date of closing. Shareholders or investors who may wish to participate in the private placement and who seek further details about the offering should contact the company's chief financial officer and corporate secretary, Ketan Chhima, at kchhima@newzealandenergy.com.

The company is also pleased to announce the appointment of Toby Pierce as a director of the corporation.

Mr. Pierce is currently chief executive officer and director of Somerset Energy Partners, an oil and gas producer in south Texas. From 2015 to 2024, Mr. Pierce was CEO and director of TAG Oil Ltd., a Toronto Stock Exchange-listed oil and gas producer in New Zealand, Australasia and Egypt. Mr. Pierce has over 28 years of geological and financial experience within the resource sector. He has been a founder, CEO or director of numerous private and public oil and gas, mining, and natural resource companies. Mr. Pierce holds an MBA from the Rotman School of Business and a bachelor of science degree in earth sciences from the University of Victoria.

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