New Zealand Energy Corp.

New Zealand Energy Corp.

July 21, 2011 08:30 ET

New Zealand Energy Files Final Prospectus for Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS

New Zealand Energy Corp. ("NZEC" or the "Company") is pleased to announce that it has filed and received a receipt for its final prospectus dated July 19, 2011 from the securities regulatory authorities in each of the provinces of Canada, other than Québec. The prospectus was filed in connection with a proposed initial public offering ("Offering") of 20,000,000 common shares ("Shares") at $1.00 per Share, for gross proceeds of $20,000,000. The Shares are being offered on a reasonable commercial efforts basis through a syndicate of agents led by Canaccord Genuity Corp., and including GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Haywood Securities Inc. and NCP Northland Capital Partners Inc. In connection with the Offering, the TSX Venture Exchange has conditionally approved the listing of NZEC's Shares. Completion of the Offering and listing of the Shares is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals. The proposed closing date of the Offering is August 3.

A copy of NZEC's final prospectus, which contains important information relating to the Offering, is available on SEDAR at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, any securities of NZEC in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered hereunder have not and will not be registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act"), or the securities laws of any state of the United States of America ("United States") and, subject to certain exceptions, may not be offered or sold within the United States or its territories or possessions except in transactions exempt from registration under the U.S. Securities Act and under the securities laws of any applicable state. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities offered hereby within the United States, its territories or possessions.

About New Zealand Energy

NZEC is an oil and natural gas company engaged in the exploration, acquisition and development of petroleum and natural gas assets in New Zealand. NZEC's property portfolio collectively covers nearly two million acres in the Taranaki Basin and East Coast Basin of New Zealand's North Island. NZEC holds two petroleum exploration permits (Eltham Permit and Castlepoint Permit) and a 50% interest in a petroleum exploration permit (Alton Permit, pending completion of certain conditions), one pending petroleum exploration permit pursuant to an assignment agreement (Ranui Permit), and one pending non-competitive petroleum exploration permit application (East Cape Permit).

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 program focusing on the discovery of onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. The Company's strategy is to develop its existing portfolio of assets and to pursue further exploration opportunities in other areas with proven hydrocarbon systems. NZEC will continue to evaluate strategic acquisitions from time to time where it views further exploration and development opportunities exist, and may participate in future tenders offered by the Government of New Zealand to acquire additional petroleum exploration permits or petroleum mining permits.

More information is available by emailing info@newzealandenergy.com.

On behalf of the Board of New Zealand Energy Corp.

John Proust, CEO & Director

Bruce McIntyre, President & Director

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 "anticipate", "continue", "estimate", "expect", "may", "will", "project", "propose", "should", "believe" 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, those listed under the headings "Special Note Regarding Forward-Looking Statements" and "Risk Factors" in NZEC's final prospectus dated July 19, 2011 relating to the Offering. 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. In addition, this news release may contain forward-looking statements attributed to third party industry sources.

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
    +1 604-601-2010
    +1-604-488-0139 (FAX)
    info@newzealandenergy.com