Categories: Energy
Topics: General Energy

Monumental Energy (TSX-V: MNRG)(OTC: MNMRF) CEO Max Sali on Catalyst Rich Q4 in an Oil Bull Market

 

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, always good to catch up. Great to have you back on. It's been a month or two. How are you today, sir?

Max Sali: I'm good. Q4, things are going very well for us currently. Had a nice update on Tuesday. A bunch of our data is now coming back that we've reinterpreted on a number of targets on our new application box, which is going really, really well. And also we're about a month away from an election in New Zealand that, based on the conversations I've had, looks like the current government will stay in power, and that's exactly what we want. Makes everything for oil and gas easier in the country with a government that fully supports what we and other oil and gas companies are doing.

Gerardo Del Real: Well, no, look, you clearly have momentum. You have an oil price that stubbornly refuses to drop below $90. Tell me about the target here and the news here recently, you're going to hold a 60% majority stake on this and you've had an incredible hit rate with the past couple of campaigns. What is this specific target and why is it attractive to you?

Max Sali: So this is a gas target, the shallow gas target. We should get final application approval in the next six weeks, I'm assuming here, just following the election. I'll be down there in November to meet with some officials and also there's an energy conference in New Plymouth, where our office is down there, not too far from this target actually. And so everyone in the oil and gas sector in New Zealand will be at this event and it'd be good networking, but you get access to a lot of good technical people and such that know these assets. New Zealand being a small country, a lot of these just sat in the background. And now with the data reinterpretation we've chosen some really good kind of lower risk gas targets that we can drill. This one that we announced on Tuesday is shallow onshore, part of the block is offshore, but even the shallow offshores is only about a thousand meters deep.

So everything's pretty conventional. There's a pipeline about 30 kilometers away. And so with success, we can tie that pretty quickly into the local gas pipeline. So on the gas side, that's going well. As you said, the oil price has been stubborn. We had some great hit rates on a few of our oil wells. We're putting those wells, or stimulating those wells again, what's called an oil foam. It should be happening right now. The only thing you have down there is you want to make sure you have the proper guys. And so because it's a smaller country, you don't really have enough guys to work everything at once, but the crew should be on those wells currently. We also have two of our guys in Texas looking at all the chemicals, the proprietary chemicals that we had created for these wells, and are currently on a flight back to New Zealand where we can make these chemicals at the Waihapa production facility and use these to soak the oil well bores.

So everything's going good on our blue sky slide we have in the deck, which we say we have applied to acreage in the area where those successful wells came online. Again, that's all onshore. And then we should be announcing something very shortly, but we really can't talk a ton about that on this call with you, but hopefully we can get that news out in the next two weeks.

The nice thing about how small the area is, is you got a lot of private companies approaching Monumental because we are public and have access to a lot of shallow wells that need to be worked over and targets that they own. And so it's been a good opportunity for Monumental to really meet these individuals and acquire more acreage and targets in the very close area to where we are producing right now.

Gerardo Del Real: No, look, there's a lot to like there, a lot of catalysts inbound. You have a small market cap given what you're cranking out and it looks like you're far from done. Anything to add to that, Max?

Max Sali: Yeah, we have lots of cash to get done what we need to do well into Q1, 2, 2027, we have access to more capital and there's a number of other things that we're considering doing. We have spoken to the NZSX, which is the New Zealand Stock Exchange. They love having new oil and gas companies on their exchange, especially now with the new government, very pro oil and gas and energy. So it seems like the sentiment's going really well down there. I'll be down there November 3rd to 10th, and I really love my trips to New Zealand. The people are great. The quality of the assets are fantastic. All the infrastructure's there. And so it's just a real pleasure to go down and have a great time, and meet everyone, and really see what we'll be getting, I guess, sticking our feet into in the very, very near future.

Gerardo Del Real: A lot happening. Looking forward to having you back on. Safe travels. Thanks for the update, Max.

Max Sali: Thank you so much, Gerardo.

Gerardo Del Real: Cheers.

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