New Zealand Energy Corp.'s corporate presentation

1. February 2012

2. Forward‐looking Statements
This presentation contains forward-looking information and forward‐looking statements within the meaning of applicable securities legislation (collectively
“forward‐looking statements”). The use of any of the words “expand”, “repeat”, “increase”, “unlock”, “build”, “de‐risk”, “target” and similar expressions are
intended to identify forward‐looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results
or events to differ materially from those anticipated in such forward‐looking statements. The Corporation believes the expectations reflected in those forward‐
looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Such forward‐looking statements included in
the presentation should not be unduly relied upon. These statements speak only as of the date of the presentation. The presentation contains forward‐looking
statements pertaining to the following: business strategy, strength and focus; the granting of regulatory approvals; the timing for receipt of regulatory approvals;
the resource potential of the Properties; the estimated quantity and quality of the Corporation’s oil and natural gas resources; projections of market prices and
costs and the related sensitivity of distributions; supply and demand for oil and natural gas; expectations regarding the ability to raise capital and to continually add
to resources through acquisitions and development; treatment under governmental regulatory regimes and tax laws, and capital expenditure programs;
expectations with respect to the Corporation’s future working capital position; capital expenditure programs; and abandonment and reclamation costs. With
respect to forward‐looking statements contained in the presentation, assumptions have been made regarding, among other things: future commodity prices; the
Corporation’s ability to obtain qualified staff and equipment in a timely and cost‐efficient manner; the impact of any changes in New Zealand law; the regulatory
framework governing royalties, taxes and environmental matters in New Zealand and any other jurisdictions in which the Corporation may conduct its business in
the future; the ability of the Corporation's subsidiaries to obtain subsequent mining permits, access rights in respect of land and resource and environmental
consents; the recoverability of the Corporation’s crude oil, natural gas and natural gas liquids resources; the applicability of technologies for recovery and
production of the Corporation’s oil, natural gas and natural gas liquids resources; the Corporation’s future production levels; the Corporation’s ability to market
crude oil, natural gas and natural gas liquids production; future development plans for the Corporation’s assets unfolding as currently envisioned; future capital
expenditures to be made by the Corporation; future cash flows from production meeting the expectations stated herein; future sources of funding for the
Corporation’s capital program; the Corporation’s future debt levels; geological and engineering estimates in respect of the Corporation’s resources; the geography
of the areas in which the Corporation is exploring; the impact of increasing competition on the Corporation; and the Corporation’s ability to obtain financing on
acceptable terms, or at all. Actual results could differ materially from those anticipated in these forward‐looking statements as a result of the risk factors set forth
below and elsewhere in the presentation: the speculative nature of exploration, appraisal and development of oil and natural gas properties; uncertainties
associated with estimating oil and natural gas resources; changes in the cost of operations, including cots of extracting and delivering oil and natural gas to market,
that affect potential profitability of oil and natural gas exploration; operating hazards and risks inherent in oil and natural gas operations; volatility in market prices
for oil and natural gas; market conditions that prevent the Corporation from raising the funds necessary for exploration and development on acceptable terms or
at all; global financial market events that cause significant volatility in commodity prices; unexpected costs or liabilities for environmental matters; competition for,
among other things, capital, acquisitions of resources, skilled personnel, and access to equipment and services required for exploration, development and
production; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failure to realize the anticipated
benefits of acquisitions; and other factors. Readers are cautioned that the foregoing list of factors is not exhaustive. Statements relating to “resources” are deemed
to be forward‐looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the resources described can be
profitably produced in the future. The forward‐looking statements contained in the presentation are expressly qualified by this cautionary statement. Except as
required under applicable securities laws, the Corporation does not undertake or assume any obligation to publicly update or revise any forward‐looking
statements.
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3. Production
Exploration
Growth
3

4. Opportunity
Conventional Production
• Copper Moki‐1 produced an average of 500 bbl/d & 860 mcf/d1 between Dec 10,
2011 and Feb 21, 2012
• Copper Moki‐2 produced 5,318 bbl and 4,158 mcf1 over first 5 days of extended
flow test between Feb 17, 2012 and Feb 21, 2012 >>> ~1,200 boe/d (88% oil)
• Top‐tier operating netback of ~US$90 per barrel2
High Impact Exploration
• Currently drilling Copper Moki‐3, with Copper Moki‐4 targeted for Q2‐2012
• Inventory of 3D defined drill‐ready targets: 7 targets identified, up to 4 wells per
target, with potential of up to 1 million bbl recoverable per well
Large Portfolio
• 2 million net acres with both conventional and unconventional targets3
• Large prospective resource base: 203 MM bbl conventional, 478 MM bbl
unconventional4,5
Growth
• Expanding portfolio with acquisitions and partnerships
• Using North American technology to unlock production potential of
unconventional resources
1. Marketing of natural gas is subject to completion of a pipeline. 2. Assuming US$110 Brent oil price. NZEC calculates the netback as the oil
sale price less fixed and variable operating costs and a 5% royalty. 3. Approximately 1 million net acres granted across four permits. East
Cape permit, covering 1,067,495 acres, is pending Crown approval. 4. AJM Petroleum Consultants Net Prospective Resource (best estimate).
See Cautionary Note Regarding Resource Estimates. 5. Assumes NZEC completes requirements to earn full 65% interest in Alton Permit. 4

5. 2011 Achievements / 2012 Plan
2011 Achievements
 Capture dominant land position in 2 basins in New Zealand
 High impact conventional basin and highly prospective shale play
 Prove conventional geological model
 Production and cash flow
2012 Plan
 Repeat success in conventional basin
 Drill up to 10 exploration wells  increase reserves, production
and cash flow
 Unlock potential of shale resources
 Target exit rate 3,000 boe/d
5

6. Corporate Profile
Common Shares Outstanding 100.6 million
Options (Exercisable at $1.03) 5.8 million
Advisor Warrants (Exercisable at $1.00) 0.7 million
Fully Diluted Shares Outstanding 107.1 million
Market Capitalization (FD) (at Feb 21, 2012) ~$290 million
Working Capital (at Jan 31, 2012) ~$14.5 million
Insider Ownership (FD) ~40%
IPO – August 2011 $1.00/share
52 Week High / Low $2.97 / $0.90
Average Volume (last 3 months) ~495,000 shares/day
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7. Experienced Management Team
John A. Greig D. Kenneth Truscott Hamish J. Campbell
Chairman, Director Director Director
(42 years experience) (30 years experience) (26 years experience)
John G. Proust Bruce G. McIntyre
CEO, Director President, Director
(26 years experience) (31 years experience)
Ian Brown Cliff Butchko Jeff Redmond Eileen Au Celeste Curran Rhylin Bailie
Chief Operating
Chief Operating VP, Corporate & VP, Communications
Senior VP Chief Financial Officer Corporate Secretary
Officer
Officer Legal Affairs & Investor Relations
(30 years experience) (15 years experience) (10 years experience)
(30 years experience)
(30 years experience) (23 years experience) (16 years experience)
• 3 Geologists
• 2 Geophysicists North American experience partnered with
• 2 Logistics Staff
• 1 Land Manager
1 Office Manager New Zealand technical expertise
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8. Asset Overview
Permit Working Net Acres Prospective
Interest Resource 1
Eltham 100% 92,467 32.1 MM bbl Conventional
Alton 65%2 77,482 45.0 MM bbl Focus
East Cape
Ranui 100% 223,087 40.5 MM bbl
Conventional and
Castlepoint 100% 551,045 208.6 MM bbl Unconventional
East Cape 3 100% 1,067,495 355.4 MM bbl Targets
Total Acreage 2,011,576 Alton
Eltham
1. Net Prospective Resource as identified by AJM Petroleum
Consultants (best estimate) assuming 9% recovery for Eltham
and Alton Permits and 2% recovery for Ranui, Castlepoint and
Castlepoint
East Cape Permits.
2. Assumes NZEC completes the requirements to increase its
interest in the Alton permit from 50% to 65%, as per an
Ranui
agreement with L&M Energy Limited.
3. East Cape permit pending Crown approval.
8

9. Taranaki Basin
9

10. Taranaki Basin
• Proven hydrocarbon 169,949
Net acres 1
basin producing
~130,000 boe/day from
18 fields
• 2 permits with more
77.1 MM
Barrels conventional
prospective resource 1,2
than 33 prospects
• 2D seismic coverage:
60,666 km 843 MM
Barrels OOIP 1,3
• 3D seismic coverage:
5,702 km2
1. Assumes NZEC completes the requirements to increase its interest in the Alton permit from 50% to 65%, as per an
agreement with L&M Energy Limited. 2. Net Prospective Resource as identified by AJM Petroleum Consultants (best
estimate) assuming 9% recovery. 3. Net Undiscovered Petroleum Initially in Place (OOIP) as identified by AJM Petroleum
Consultants. See Cautionary Note Regarding Resource Estimates.
10

11. Taranaki Basin
• Copper Moki‐1
• Averaged 500 bbl/d + 860 mcf/d1 almost
entirely through a 20/64th choke (Dec 10,
11 to Feb 21, 12)
• Produced over 44,000 bbl since August
2011
• Copper Moki‐2
• Produced 5,318 bbl and 4,158 mcf1 over
5‐day production test through a 24/64th CM‐1 and CM‐2
choke >>> ~1,064 bbl/d + 832 mcf/d1 discovery wells x
(Feb 17, 12 to Feb 21, 12)
• Q1/Q2 ‐ 2012
• Drill Copper Moki‐3
• Drill Copper Moki‐4
• Build pipeline to market natural gas
production
• Shoot 100 km2 of 3D seismic to further
define future drilling inventory
• Q3/Q4 ‐ 2012 ~20,000 boe/d production
• Drill 6 additional conventional wells surrounding NZEC permits
1. Marketing of natural gas is subject to completion of a pipeline.
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12. Top Tier Netbacks
• Brent pricing environment
• Close to open access infrastructure, tanking facility and natural gas pipeline
• 5% royalty converts to 20% of accounting profit post payout
NZEC calculates the netback as the oil sale price less fixed and variable operating costs
and a 5% royalty. 12

13. Taranaki Basin – Exploration Model
• Identify prospects using
proprietary database and
technical expertise
• Target Mt. Messenger
formation
• Explore multi‐zone potential at
minimal incremental cost
• Continue to expand 3D seismic A
database to further delineate
exploration targets and reduce A’
drilling risk
13

14. Near‐term Copper Moki Focus
Seismic Cross Section Cheal ‐ Copper Moki ‐ Taranaki Thrust Fault Zone
A A’
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15. Exploration Inventory
Primary Formation Leads Wells/Lead Potential Inventory
(Wells)
3D defined Mt. Messenger 7 2-4 14 - 28
2D defined Mt. Messenger * 12 2-4 24 - 48
Total Mt. Messenger 19 38 - 76
* 100 km2 3D seismic survey in 2012 to further delineate exploration targets
• In addition to its Mt. Messenger focus, NZEC is exploring three secondary
formations over the Eltham and Alton permits: the Urenui, Moki and Kapuni
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16. East Coast Basin
16

17. East Coast Basin
• World‐class resource potential in
multiple shale packages
1.8 M
Net acres
• 1.4 B bbl conventional OOIP 2
• 20.9 B bbl unconventional OOIP 2
• 2 permits issued, 1 permit
126 MM
Barrels conventional
pending 3 prospective resource 1
• 2D seismic coverage: 14,535 km
• 3D seismic coverage: 1,390 km2 478 MM
Barrels unconventional
prospective resource 1
1. Net Prospective Resource as identified by AJM Petroleum Consultants (best estimate) assuming 2% recovery. 2. Net
Undiscovered Petroleum Initially in Place (OOIP) as identified by AJM Petroleum Consultants. See Cautionary Note Regarding
Resource Estimates. 3. East Cape Permit pending Crown approval. 17

18. East Coast Basin – Exploration
• Over 300 oil and gas seeps
sourced back to two shale
formations
• Advancing technical
understanding of shale targets
• NZEC analyzing results from
three stratigraphic wells
• NZEC completing 50 km of 2D
seismic in 2012
• Apache Corp. and TAG Oil
exploring offsetting permits in
Q2‐2012
18

19. East Coast Basin Shale Potential
Waipawa Whangai Bakken
East Coast East Coast Willesden
Basin/Jurisdiction New Zealand New Zealand North Dakota &
Saskatchewan
Quartz Content (%) 40 – 80 40 – 80 40 – 60
Carbonate (%) 5 – 40 5 – 40 10 – 20
Content
Clay Content (%) Unknown Unknown 5 – 20
Depth (meters) 0 – 5,000 0 – 5,000 2,700 – 3,500
Thickness (meters) 10 – 70 300 – 600 10 – 50
Porosity (%) 3 – 8 3 – 8 4 – 12
Permeability (microdarcies) 10 – 200 10 – 110 5 – 1,000
Kerogen Type Type II Type II Type II
TOC (%) 3.0 – 12.0 0.2 – 1.7 1.0 – 21.0
Vit Reflectance (R) 0.3 – 0.4 0.4 – 1.4 0.7 – 1.1
Tmax (Celsius) 430 – 445 420 – 445 420 – 450
Geologic Age Late Paleocene Late Cretaceous / Upper Devonian
Paleocene
Source: AJM Petroleum Consultants
• Cores and open hole logs from three stratigraphic wells will advance NZEC’s understanding of
the shale formations and focus the 2012 East Coast exploration strategy 19

20. Adding Value in 2012
Taranaki Basin
• Repeat exploration success
• Achieve long‐term production from Copper Moki‐2
• Drill Copper Moki‐3 and Copper Moki‐4 in H1‐2012
• Rapidly advance new wells to production using existing facilities
• Establish inventory of 3D‐identified drill‐ready targets to
accelerate exploration program
East Coast Basin
• Analyze shale cores from three stratigraphic wells  advance
exploration strategy, unlock highly prospective shale potential
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21. Appendix
21

22. New Zealand Advantage
• Proven hydrocarbon systems
with multi‐zone potential
• Brent pricing environment
with top‐tier netbacks
• Favorable royalty and tax
structure
• Proactive Government
approach to exploration and
development
• Established infrastructure
with capacity
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23. New Zealand Market for Oil & Gas
New Zealand Market for Oil Oil Infrastructure
• Significant net importer of oil
• Production of ~55,000 bbl/d exclusively from the Shell Operated
Export Hub
Taranaki Basin
• Current demand is ~150,000 bbl/d
• Premium pricing environment
• NZEC oil production sold at Brent
• Premium to WTI
New Zealand Market for Gas
• Demand and infrastructure supported 460 million cf/d
of production and sales within domestic marketplace
in 2009
• Excess demand environment
• Methanex methanol production facility at 40%
capacity, requires additional ~120 million cf/d for
Source: IEA
full capacity
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24. Management Team
Name Expertise Experience
• Proven track record of building companies from grass • Chairman, CEO & Director, Southern Arc Minerals Inc.
John G. Proust, C.Dir
roots to advanced development. Specializes in • Chairman, Canada Energy Partners Inc.
CEO
identifying undervalued assets on a global basis • Executive Chairman, Superior Mining International Corp.
• President, CEO Sebring Energy Inc.
Bruce G. McIntyre, • Professional petroleum geologist with over 30 years of
• President, CEO TriQuest Energy Corp.
P.Geol. proven exploration and development oriented value
• President, CEO BXL Energy Ltd.,
President creation
• Exploration Manager Gascan Resources Ltd.
• Director, Ian R Brown Associates Ltd since 1985
Ian R. Brown, D.Eng
• Professional geological engineer • Director, Hugh Green Energy Ltd
MIPENZ
• Management of technical teams • Consultant on many resource appraisal and development
Chief Operating Officer
projects in New Zealand
• Professional engineer with over 30 years experience • President Omni Oil and Gas Inc.
Cliff Butchko
evaluating and managing oil and gas resources • Vice President Lexoil Inc.
P.Eng, MBA (Hon)
• Partner and Co‐founder TIFF advisory group
Senior VP
• Senior technical positions in several resource companies
• Former Director of Finance, acting CFO for Western Coal Corp
Jeff Redmond, CA • Finance, mergers & acquisitions, and taxation
• Controller for hi‐tech publicly listed company
Chief Financial Officer • Public company reporting and assurance
• Auditor with KPMG LLP
Celeste M. Curran, • Vice President, Corporate & Legal Affairs, J. Proust & Associates
B.A. (Hon), L.L.B. • Over 20 years of legal and negotiating experience • Lead counsel for City of Vancouver and City of Richmond for the
VP Corporate & Legal specializing in major projects 2010 Olympic and Paralympic Winter Games
Affairs • Senior Solicitor, City of Vancouver
Rhylin Bailie, B.ES. • More than 16 years of experience in the resource • Director Communications & Investor Relations, NovaGold
VP Communications & industry, in both finance and investor relations Resources Inc.
Investor Relations • Professional writer and editor • Supervisor Treasury Administration, Placer Dome Inc.
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25. Board of Directors
Name Expertise Experience
John A. Greig, • Founder and financier of numerous mining
• Founder, Director & Officer Sutton Resources, Cumberland
M.Sc., P.Geo and oil and gas companies. Specializing in
Resources Ltd., Eurozinc Mining Corp., Crown Resources Corp.
Chairman recognizing undervalued geological assets
• Proven track record of building companies
John G. Proust, C.Dir. • Chairman, CEO & Director, Southern Arc Minerals Inc.
from grass roots to advanced development.
CEO • Chairman, Canada Energy Partners Inc.
Specializes in identifying undervalued assets
Director • Executive Chairman, Superior Mining International Corp.
on a global basis
• President, CEO Sebring Energy Inc.
Bruce G. McIntyre, • Professional petroleum geologist with over
• President, CEO TriQuest Energy Corp.
P.Geol. 30 years of proven exploration and
• President, CEO BXL Energy Ltd.,
President, Director development oriented value creation
• Exploration Manager Gascan Resources Ltd.
• Senior executive with over 30 years of
• Senior Vice President, Land & Business Development
D. Kenneth Truscott corporate development and negotiation
Crew Energy Inc.
Director experience in the Canadian oil and gas
• Founder, CEO Morpheus Energy Corp.
industry
Hamish J. Campbell • Professional geologist with 30 years of • Director of a number of New Zealand limited liability mineral
B.Sc. (Geology), experience managing exploration programs, and petroleum companies
FAusIMM evaluation and assessment of joint ventures • Principal Indonesian mining service company
Director and acquisitions • Executive Vice President, Southern Arc Minerals Inc.
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26. New Zealand Technical Team
Name Qualifications Expertise
Dr. Ian Brown D. Eng Chief Operating Officer; professional geological engineer
B.Sc,
June Cahill Acquisition, management, and analysis of complex geoscience data
B. Applied Econ.
B.Sc (Hons) Petroleum geology related to the East Coast and other New Zealand
Bill Leask
M.Sc (Hons) basins
B.Sc (Hons)
Dr. Simon Ward Petroleum geology related to the Taranaki and other New Zealand basins
Ph.D
Ian Calman B.Sc (Hons) Seismic data acquisition, processing, and interpretation
B.Sc
Sam Pryde Geological investigations in the East Coast basin area
Post. Grad. Dip.
B.E, B.Sc (Hons) Management and development of computing resources for geoscience
Peter Wood
M.Sc (Hons) applications
Senior Manager, Negotiating access provisions and facilitating resource consent process,
Toka Walden New Zealand Dept. assisting with community relationship building
Conservation
26

27. Cautionary Note Regarding Resource Estimates
A prospective resource is defined as those quantities of petroleum estimated, as of a given date,
to be potentially recoverable from undiscovered accumulations by application of future
development projects. Prospective resources have both an associated chance of discovery and a
chance of development. Prospective resources are further subdivided in accordance with the
level of certainty associated with recoverable estimates assuming their discovery and
development and may be sub classified based on project maturity. There is no certainty that
any portion of the resources will be discovered. If discovered, there is no certainty that it will be
commercially viable to produce any portion of the resources.
27

28. Contact NZEC
Corporate Head Office
John Proust, Chief Executive Officer
Bruce McIntyre, President
NA Toll‐free: 1‐855‐601‐2010
info@newzealandenergy.com
New Zealand Office
Ian Brown, Chief Operating Officer
Tel: + 64‐4‐471‐1464
NZ Toll‐free: 0800‐469‐363
www.NewZealandEnergy.com
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