Categories: Energy
Topics: General Energy

Monumental Energy (TSX-V: MNRG)(OTC: MNMRF) CEO Max Sali on Accepted Bid for the Tirua Point Aapplication Area in New Zealand

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO and founder of Monumental Energy (TSX-V: MNRG)(OTC: MNMRF), Mr. Max Sali. Max, good to have you back on. It's been a bit. How are you today, sir?

Max Sali: I'm good. Thanks for having me again, Gerardo. It's been a busy summer, meaning a lot of paperwork and getting a lot of things ready for September, but here we are with the good news release today, with an accepted bid for one of the first of many applications back in New Zealand, and excited to get working on boots on the ground again for September.

Gerardo Del Real: Well, let's talk about what the rest of the year looks like. You've been putting in a lot of work behind the scenes. I imagine that the paperwork and the permitting process has been time-consuming and tedious, but clearly it's going in the right direction. What does the rest of the year look like for Monumental?

Max Sali: So what you're going to see now is the final permits being granted for this. The government's starting to issue funds from the government fund that they said they were going to do awhile back. So we're expecting to get some government funding to assist with drilling these new blocks that we have, or will be acquiring. What also you're going to see is we will have the lining set up in one of the tankers that our partner is doing, so we'll be able to hold more capacity on site.

Along with that, we have artificial lifts being installed in three of the work over wells that we announced previously. Those should be done for September, along with the chemicals that should be arriving in September in New Zealand, that we're going to use to soak the wells that should double production. So it's kind of just been getting everything ready to go for the fall, when all the kids get back to school, and we're a few weeks away from everything coming to fruition. So it's nice to see the oil price stay where it is, Brent around $90. The gas price is very stable in New Zealand, always at a high, the government on side, and it looks like it's going to be a very busy third quarter for us, and things are going in incredibly the right direction for Monumental Energy at this time.

Gerardo Del Real: Geopolitically, we know it's turbulent pretty much everywhere. How are things in New Zealand? How has that gone for you?

Max Sali: Things are great. The government is very on side with what's happening right now. They're going to start issuing a lot more permits. They said they were going to do so. There is an energy crisis in New Zealand. They need the gas. They need it badly. There's talk about them building AI plants in the Taranaki Basin, which means they will need more energy. They do have a $200 million government fund, so they will be giving companies money, not for free, but on very good terms, to incentivize them to drill new gas wells, and that will help lower your average family household gas cost. And so it's a great place to work.

Two separate things. On the oil side, that's going to be turbulent, what's happening with Iran and stuff like that. So the oil price is going to do what it's going to do. But with a very high gas price, and a government that really wants to get that down, they are really, really helpful in trying to get these things moving forward. So permitting, once we get these permits, the process between that permit, and putting a fresh well into the ground will be very quick. I would say we'll be putting fresh wells in the ground in early 2027.

Gerardo Del Real: Look, exciting times. A lot going on. Looking forward to having you back. Sounds like you're going to have a whole steady news flow over the next several months and quarters.

Max Sali: That is correct. Thank you, always, for your time, Gerardo.

Gerardo Del Real: Max, always a pleasure. Thank you, sir.

Max Sali: Bye-bye.

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