Monumental Energy (TSX-V:MNRG) has appointed New Plymouth Mayor Max Brough as an independent adviser as it seeks to expand its oil and gas portfolio in New Zealand’s Taranaki Basin.
Brough entered local politics after a business career and describes himself as “pro-business”. Monumental says his regional knowledge and industry relationships could support efforts to identify and advance further opportunities.
New Plymouth is the main city in Taranaki, a longstanding centre of New Zealand’s energy industry. The region hosts oil and gas operators, service companies, pipeline infrastructure, engineering businesses, and a deep-water port handling energy imports and exports.
Brough says he looks forward to working with Monumental and local businesses on resource development.
“We look forward to developing a long-term relationship with Monumental Energy to continue to develop, in partnership with local expertise and businesses, the resources we have locally,” Brough says.
The appointment follows CEO Maximilian Sali’s visit to Monumental’s producing royalty interests and potential future assets in the region.
“[Mr Brough] is one of the most focused individuals I have ever met and wants to bring as much growth to the city of New Plymouth as possible,” Sali says.
Monumental has a funding agreement with New Zealand Energy (TSX-V:NZ) targeting production optimisation and workover opportunities across existing fields.
It also holds New Zealand Energy securities, a call option, and royalty interests in several producing and near-producing onshore wells.
The appointment follows Monumental’s proposed oil and gas partnership with Maata Oil, as previously reported by Mining.com.au.
Monumental Energy is a Canadian energy company acquiring and advancing oil and gas interests in New Zealand’s onshore and offshore Taranaki Basin.
Write to France Pinzon at Mining.com.au
Main image: Monumental Energy
