VANCOUVER, BC, Feb. 7, 2024 /CNW/ - Monumental Energy Corp. ("Monumental" or the "Company") (TSXV: MNRG) (FSE: BE5) (OTCQB: MNMRF) is pleased to provide an operational update and outlook for the first half of 2024.
Chile
On November 5, 2023, the Company appointed Mariana Cervetto as Vice President, Chile Operations. With over 15 years of expertise in geology, hydrogeology, mining advisory, environmental assessments, and community engagement, Mariana brings invaluable insight to foster valuable advancements in Chile. Ms. Cervetto's immediate focus is to cultivate strong relationships between Monumental and the indigenous communities, Ayquina and Toconao, to facilitate exploration approvals and ensure the development of long-term partnerships crucial for advancing our Chilean projects.
The Company has received an invitation to present before the Toconao Community in March 2024, regarding the Laguna Blanca project. Pursuant to the Community's request, Monumental has prepared a filing for the Environmental Assessment Service ("EAS") confirming that the project does not require specific Environmental Approval, such as a Declaration of Environmental Impact or an Environmental Impact Study. The EAS has been finalized and is poised for submission pending the meeting with the Community to present Monumental's exploration proposal, with the intentions of materializing Community approvals necessary to advance the Laguna Blanca exploration program. The Company anticipates constructive discussions with the Community and advancing cooperative endeavors aimed at the sustainable development of the Laguna Blanca project.
New Zealand Energy Corp. Investment
On December 12, 2023, Monumental Energy disclosed its strategic investment in New Zealand Energy Corp. ("New Zealand Energy"), positioning itself as the second-largest shareholder. New Zealand Energy, set to become a substantial player in the onshore New Zealand oil and gas sector, boasts substantial permitted land holdings and a portfolio of previously operational oil wells, currently undergoing workovers for immediate production. Additionally, New Zealand Energy plans (subject to financing) to drill its primary target, the Tariki-5 gas well, in the forthcoming months, anticipating potential cash flow generation to sustain operations and potentially offer dividends to shareholders in the event of significant success. This investment underscores Monumental Energy's commitment to fostering growth opportunities and maximizing returns for its stakeholders in the energy sector.
On December 14, 2023, Monumental Energy announced the appointment of Frank Jacobs who is the largest shareholder New Zealand Energy to its board of directors, bringing the two companies closer together.
Maximilian Sali, VP of Corporate Development, remarked, "The team at NZEC has demonstrated exceptional agility in swiftly evaluating and initiating workovers on numerous oil wells with substantial historical production, gearing up to bring them online as they prepare for the pivotal but de-risked Tariki-5 gas well drill. With a current float of just over 8 million NZEC shares, Monumental Energy stands poised to see significant benefits from this investment. It's worth noting the challenge of building a position in NZEC, making MNRG the optimal vehicle for participation. Furthermore, NZEC's receipt of Brent crude USD pricing for all oil sales and an average of $NZ 9-12 per MCF of gas, notably surpassing North American prices, underscores the promising potential of this venture."
| Currency $1 dollar | USD | CAD |
| NZ | .60 as of Feb 6, 2024 | .081 as of Feb 6, 2024 |
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sector. The Company has an option to acquire a 75% interest and title to the Laguna cesium-lithium brine project located in Chile and a 50.01% interest in the Salar De Turi lithium project in Chile. The Company has an option to acquire a 100% interest in the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border. The Company owns securities of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ "Michelle DeCecco"
Michelle DeCecco, Interim Chief Executive Officer and Director
Contact Information:
Email: michelle@monumental.energy
Or
Email:max@monumental.energy