Mr. Toby Pierce reports

NEW ZEALAND ENERGY CORP. PROVIDES CORPORATE UPDATE

New Zealand Energy Corp. has granted stock options to certain directors, officers and employees of the company to purchase up to an aggregate of 3.25 million common shares in the capital of the company.

The options are exercisable at a price of 45 cents per common share for a period of five years from the date of grant. The options vest immediately upon grant and are subject to the terms and conditions of the company's stock option plan and the policies of the TSX Venture Exchange.

The grant of options is intended to align the interests of management, directors and staff with those of shareholders, and to provide long-term incentives linked to the growth and performance of the company.

About New Zealand Energy Corp.

New Zealand Energy is a publicly listed energy company focused on the development of oil, gas and gas storage opportunities in New Zealand. The company holds interests in multiple heritage assets and development-stage projects, including the Tariki gas storage project in Taranaki. With a 50-per-cent ownership stake in the Waihapa production station, the company can quickly tie in any near-term production and sell directly to market.

We seek Safe Harbor.