New Zealand Energy has released the results of its third quarter ended September 30, 2011 and has announced the completion of the Copper Moki-1 extended production test.

Highlights

■ Completed extended production test of Copper Moki-1 well at a restricted rate through a 20/64th choke, averaging 521 barrels of oil and 508 mcf of natural gas per day ■ Copper Moki-1 to commence permanent production in early December; installing surface facilities for up to 1,000 barrels of oil per day ■ Commencing drilling of Copper Moki-2 well by year-end, followed by Copper Moki-3 ■ Initiating 100-km2 3D seismic survey to hi-grade existing prospects on Eltham and Alton Permits ■ Assessing results of drill core from Waipawa Shale in Castlepoint Permit test ■ Re-drilling and deepening Ranui-1 well in December to further evaluate Whangai Shale ■ Positive working capital of $18.7 million at September 30, 2011; current cash on hand exceeds $17 million

Tags: New Zealand Energy Corp.