New Zealand Energy Corp.
TSX VENTURE : NZ
OTCQX : NZERF

New Zealand Energy Corp.

December 22, 2011 08:30 ET

New Zealand Energy Appoints Cliff Butchko as Senior Vice President

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2011) - New Zealand Energy Corp. (TSX VENTURE:NZ)(OTCQX:NZERF) ("NZEC" or the "Company") is pleased to announce the promotion of Mr. Cliff Butchko to the position of Senior Vice President.

Mr. Butchko is a professional engineer with more than 30 years of oil and gas experience. Most recently he has provided technical consulting services and business advice to oil and gas companies, as well as other energy-related and resource-based companies, through Butchko Resource Management and TIFF Business Advisory Group. As a result of his technical and business background, Mr. Butchko has been involved in various corporate level projects relating to large financings, mergers and acquisitions. Mr. Butchko spent 15 years with Chevron in a number of technical and business-related positions, including field operations, reservoir/exploitation engineering, special projects, regulatory representative, marketing, major contract negotiations, recruiting and business group advisory roles. He then joined Eurogas Corp., an international energy company, where he was responsible for all domestic production as well as significant projects in Russia, Tunisia and Spain. Mr. Butchko also founded and owns his own producing oil and gas company, Omni Oil and Gas.

"Cliff Butchko has been part of the New Zealand Energy team since April and played an instrumental role in rapidly advancing Copper Moki-1 from discovery to production," said Bruce McIntyre, President & Director of NZEC. "Cliff is relocating to New Zealand, bringing a wealth of technical knowledge and hands-on experience to guide the technical aspects of NZEC's exploration and production program."

Mr. Butchko completed his Mechanical Engineering studies at University of Saskatchewan and subsequently obtained his Master of Business Administration Degree (Honours) from Queen's University. He is an active member of, and holds a Professional Engineering designation with, the Association of Professional Engineers, Geologists and Geophysicists of Alberta.

The Company has granted 450,000 stock options to Mr. Butchko, exercisable at $1.00 per share. The stock options vest one-third on December 1, 2012, and one-third annually thereafter.

On behalf of the Board of Directors

Bruce McIntyre, President & Director

About New Zealand Energy Corp.

NZEC is an oil and natural gas company engaged in the exploration, development and production of petroleum and natural gas assets in New Zealand. NZEC's property portfolio collectively covers nearly two million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island. The Company's management team has extensive experience exploring and developing oil and natural gas fields in New Zealand and Canada, and takes a multi-disciplinary approach to value creation with a track record of successful discoveries. NZEC plans to add shareholder value by executing a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC trades on the TSX Venture exchange under the symbol "NZ" and on the OTCQX International under the symbol "NZERF". More information is available at www.newzealandenergy.com or by emailing info@newzealandenergy.com.

Forward-looking Statements

This news release 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 "expect", "will be", "will", "plan", "anticipate" 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, including without limitation, 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; the need to obtain various approvals before exploring and producing oil and natural gas resources; 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 as disclosed in documents released by NZEC as part of its continuous disclosure obligations. NZEC 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. Such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release and NZEC does not undertake to update any forward-looking statements that are contained in this news release, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • New Zealand Energy Corp.
    Rhylin Bailie
    Vice President, Communications & Investor Relations
    604-601-2010 or Toll-free: 1-855-601-2010

    New Zealand Energy Corp.
    John Proust
    Chief Executive Officer & Director
    604-601-2010 or Toll-free: 1-855-601-2010
    info@newzealandenergy.com
    www.newzealandenergy.com