Monumental Energy (TSX-V:MNRG) has received acceptance for its petroleum exploration permit application, covering the Tirua Point area in New Zealand’s Taranaki Basin.
The application was submitted in May 2026 and accepted by New Zealand Petroleum & Minerals (NZPAM). The application will now undergo government review.
Upon the permit being granted and definitive agreements completed, Monumental expects to hold a 60% interest, with privately held 3TCF holding 30% and New Zealand Energy Corp (TSX-V:NZ) holding the remaining 10%.
Monumental CEO Maximilian Sali says the acceptance of the application is an “important step” toward securing the Tirua Point permit.
“Monumental and its partners have spent a significant number of hours to get this application lodged with the government regulatory agency, NZPAM,” Sali says.
Tirua Point covers 245km² 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 up-dip from the Mauku-1 well drilled in 2013, which intersected around 140m of net reservoir.
Meanwhile, Mangatoa is a deeper prospect targeting the mid-Cretaceous Taniwha Formation. The offshore Te Ranga-1 well, drilled in 1986, intersected approximately 100m of the Taniwha Formation between measured depths of 3,740m and 3,842m below the Kelly bushing.
Monumental Energy is an explorer focused on acquiring, discovering, and developing properties in the critical and clean energy sectors.
Write to Aaliyah Rogan at Mining.com.au
Images: Monumental Energy
