Monumental Energy Corp has announced that its application for petroleum exploration permit PEP61554, covering the Tirua Point application area in New Zealand’s Taranaki Basin, has been accepted by New Zealand Petroleum & Minerals ('NZPA') and will now proceed to government review.
The application was submitted in May 2026 by Monumental, private company 3TCF and New Zealand Energy Corp. ('NZEC'), the proposed operator. The three-month competing-application period closed on August 12, 2026, with no competing applications received.
Upon the permit being granted and definitive agreements completed, Monumental expects to hold a 60% interest, with 3TCF holding 30% and NZEC holding the remaining 10%.
Tirua Point Application Area
The Tirua Point application covers approx. 245 sq kms of prospective onshore and offshore acreage in the northern Taranaki Basin. Technical work completed by the applicant group has identified two gas-condensate prospects: Mauku Northeast and Mangatoa.
Mauku Northeast is an Eocene-age Mangahewa Group prospect situated updip from the Mauku-1 well drilled in 2013, which intersected approx. 140 metres of net reservoir.
Mangatoa is a deeper prospect targeting the mid-Cretaceous Taniwha Formation. The offshore Te Ranga-1 well, drilled in 1986, intersected approx. 100 metres of the Taniwha Formation between measured depths of 3,740 and 3,842 metres below the Kelly bushing. Subsequent petrophysical reviews of available wireline and well data have interpreted indications of movable hydrocarbons within sandstone intervals in the formation.
The accepted application will now undergo government review. There can be no assurance that NZPAM will grant the permit within the anticipated timeframe or at all. If the permit is granted, Monumental, 3TCF and NZEC intend to finalize and enter into definitive joint-venture and operating agreements.
Maximilian Sali, CEO, Director and Founder of Monumental, commented:
'The acceptance of our application is an important step toward securing the Tirua Point permit. Tirua Point would expand our presence in the Taranaki Basin and add two identified gas-condensate prospects to our New Zealand portfolio. Monumental and its partners have spent a significant number of hours to get this application lodged with the government regulatory agency, New Zealand Petroleum and Minerals (NZPAM). I believe this forward thinking and right timing will lead to a re-rating of our share price. This is just the first of many catalysts to come between now and the rest of the year.'
Image: Taranaki Basin, NZ. TAWN licences (NZEC permits)
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 sectors. The Company is building a strategic position in New Zealand’s onshore Taranaki Basin, targeting near-term oil production and longer-term natural gas development.
The Company has a funding agreement with New Zealand Energy Corp. ('NZEC') targeting production optimization and workover opportunities across existing fields. The Company also holds securities of NZEC and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2% net smelter return royalty on Summit Nanotech’s interest in the Salar de Turi lithium project in Chile.
Source: Monumental Energy
