LME Laurion Mineral Exploration Inc

New Zealand Energy Corp. (TSX VENTURE:NZ)(OTCQX:NZERF) ("NZEC" or the "Company")
has signed a binding Letter Agreement with L&M Energy Limited ("LME") whereby
LME will pay NZEC C$18.25 million to form a 50/50 joint venture ("TWN Joint
Venture") to explore, develop and operate the Tariki, Waihapa and Ngaere
Petroleum Mining Licenses ("TWN Licenses"), the Waihapa Production Station and
associated pipelines and infrastructure. The parties intend to finalize the
definitive agreements shortly with the objective of closing the transaction
contemporaneously with closing of the acquisition of the assets from Origin
Energy Resources NZ (TAWN) Ltd. ("Origin") (the "Waihapa Assets Acquisition").
NZEC will become the operator of the TWN Licenses and the Waihapa Production
Station. Decisions regarding exploration, development and operations of the
Waihapa Assets will be made by management committees with equal representation
from both companies.


NZEC believes the Waihapa Assets Acquisition and TWN Joint Venture will provide
significant benefit to its shareholders, transforming NZEC into a fully
integrated upstream/midstream company with the cash flow, infrastructure and
inventory to support long-term growth. Closing the two transactions will bring a
number of near-term catalysts and longer-term benefits to NZEC:




--  Immediately increase NZEC's reserves by 150% with the addition of 1.07
    million boe of Proven plus Probable Reserves with a before tax net
    present value (10% discount) of $31.4 million(1) 
--  Immediate production and cash flow with reactivation of six existing
    Tikorangi wells using existing gas lift system, with subsequent
    production increases from installation of high volume lift 
--  Near-term production and cash flow growth potential with new Tikorangi
    wells and uphole Mt. Messenger completions in existing wells 
--  Access to exploration targets in deeper, high-impact prospects 
--  Large inventory of development opportunities across multiple horizons 
--  High-capacity full-cycle production facility central to NZEC's portfolio
    of exploration and development opportunities 
--  Optimization of NZEC's existing Taranaki exploration and production
    portfolio 



"L&M Energy's $18.25 million investment is a significant show of confidence in
NZEC's exploration and development plans for the TWN Licenses and Waihapa
Production Station," said John Proust, Chief Executive Officer and Director of
NZEC. "LME has been exploring and operating in New Zealand since 1969 and brings
financial strength combined with business and technical expertise to the joint
venture. 


"With the $18.25 million purchase commitment from L&M Energy, NZEC is continuing
to pursue a number of strategic options to fund the remaining $12 million
required to close the acquisition of assets from Origin and add to existing
working capital," continued Mr. Proust. "NZEC has developed an exploration and
development program for the TWN Licenses, to be funded 50% by L&M Energy as an
equal partner, which will bring both immediate value and long-term growth to the
Company. We look forward to closing the acquisition of assets from Origin and
executing our development strategy for the benefit of our partners and
shareholders." 


LME will pay NZEC $18.25 million, comprising half of the purchase price for the
Waihapa Assets plus half of NZEC's costs incurred to date. Closing the TWN Joint
Venture is subject to government and regulatory approvals, obtaining the
additional funding and the closing of the Sale and Purchase Agreement with
Origin, as announced by NZEC on June 17, 2013. Once the conditions precedent
have been met and both the TWN Joint Venture and the Waihapa Assets Acquisition
are complete, NZEC and LME will each own 50% of the TWN Licenses comprising
23,049 acres in the Taranaki Basin of New Zealand's North Island. NZEC and LME
will also each hold a 50% interest in the Waihapa Production Station and
associated oil and gas gathering and sales pipelines and other infrastructure
associated with the TWN Licenses and the Waihapa Production Station. 


"I have been watching this transaction unfold with interest," said Geoff Loudon,
owner of LME. "I have long believed that the TWN Licenses and infrastructure
hold great potential, both from an exploration perspective and with the
strategic marketing and business opportunities presented by the Waihapa
Production Station. I look forward to unlocking the value of these assets in
partnership with NZEC."




On behalf of the Board of Directors                                         
                                                                            
"John Proust"                                                               
                                                                            
Chief Executive Officer & Director                                          



About New Zealand Energy Corp.

NZEC is an oil and natural gas company engaged in the production, development
and exploration of petroleum and natural gas assets in New Zealand. NZEC's
property portfolio collectively covers approximately 2.25 million acres
(including permits and acquisitions pending) of conventional and unconventional
prospects in the Taranaki Basin and East Coast Basin of New Zealand's North
Island. The Company's management team has extensive experience exploring and
developing oil and natural gas fields in New Zealand and Canada. NZEC plans to
add shareholder value by executing a technically disciplined exploration and
development program focused on the onshore and offshore oil and natural gas
resources in the politically and fiscally stable country of New Zealand. NZEC is
listed on the TSX Venture Exchange under the symbol "NZ" and on the OTCQX
International under the symbol "NZERF". More information is available at
www.newzealandenergy.com or by emailing info@newzealandenergy.com.


About L&M Energy and Geoff Loudon

Mr. Loudon is a New Zealand based international investor with family roots going
back to the Hokitika, NZ gold fields in 1875. He was the former Chairman of L&M
Energy (ASX, NZX) and completed a NZ$48 million takeover bid for LME in January
2013 through his privately owned company, New Dawn Energy Limited. L&M Energy
holds a number of petroleum exploration permits on the North and South Islands
of New Zealand, including a 35% interest in NZEC's Alton Permit. Mr. Loudon is
Chairman of Nautilus Minerals Inc. (TSX), a Canadian based seabed minerals
exploration company; a founding director from 1995 to 2010 of Lihir Gold Limited
(ASX, TSX, NASDAQ), a PNG gold miner; and a founder and investor in Peru Copper
Inc. (TSX, AMEX). He is a mining professional with qualifications in geology,
engineering and international finance and is a Fellow of the Australasian
Institute of Mining & Metallurgy (AIMM), a Member of the Canadian Institute of
Mining (CIM) and a Member of the American Institute of Mining Engineers (AIME). 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as such
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 


Forward-looking Information

This document contains certain 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 "will", "intend",
"objective", "become", "transforming", "potential", "continuing", "pursue",
"subject to", "look forward", "unlocking" 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. 


Such forward-looking statements should not be unduly relied upon. The Company
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. This document contains forward-looking statements and assumptions
pertaining to the following: business strategy, strength and focus; the granting
of regulatory approvals; the timing for receipt of regulatory approvals;
geological and engineering estimates relating to the resource potential of the
properties; the estimated quantity and quality of the Company's oil and natural
gas resources; supply and demand for oil and natural gas and the Company's
ability to market crude oil, natural gas and; expectations regarding the ability
to raise capital and to continually add to reserves and resources through
acquisitions and development; the Company's ability to obtain qualified staff
and equipment in a timely and cost-efficient manner; the ability of the Company
to obtain the necessary approvals and secure the necessary financing to conclude
the acquisition of assets from Origin on schedule, or at all; the ability of the
Company to obtain the necessary approvals to conclude the TWN Joint Venture on
schedule, or at all; the ability of the Company's subsidiaries to obtain mining
permits and access rights in respect of land and resource and environmental
consents; the recoverability of the Company's crude oil, natural gas reserves
and resources; and future capital expenditures to be made by the Company. 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
document, such as 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 costs 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
Company 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 "reserves and 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 document are expressly
qualified by this cautionary statement. These statements speak only as of the
date of this document and the Company does not undertake to update any
forward-looking statements that are contained in this document, except in
accordance with applicable securities laws.


Cautionary Note Regarding Reserve and Resource Estimates

The oil and gas reserve and resource calculations and net present value
projections were estimated in accordance with the Canadian Oil and Gas
Evaluation Handbook ("COGEH") and National Instrument 51-101 ("NI 51-101"). The
term barrels of oil equivalent ("boe") may be misleading, particularly if used
in isolation. A boe conversion ratio of six Mcf: one bbl was used by NZEC. This
conversion ratio is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead. Reserves are estimated remaining quantities of oil and natural gas and
related substances anticipated to be recoverable from known accumulations, as of
a given date, based on: the analysis of drilling, geological, geophysical, and
engineering data; the use of established technology; and specified economic
conditions, which are generally accepted as being reasonable. Reserves are
classified according to the degree of certainty associated with the estimates.
Proved Reserves are those reserves that can be estimated with a high degree of
certainty to be recoverable. It is likely that the actual remaining quantities
recovered will exceed the estimated proved reserves. Probable Reserves are those
additional reserves that are less certain to be recovered than proved reserves.
It is equally likely that the actual remaining quantities recovered will be
greater or less than the sum of the estimated proved plus probable reserves.
Revenue projections presented are based in part on forecasts of market prices,
current exchange rates, inflation, market demand and government policy which are
subject to uncertainties and may in future differ materially from the forecasts
above. Present values of future net revenues do not necessarily represent the
fair market value of the reserves evaluated. Information concerning reserves may
also be deemed to be forward looking as estimates imply that the reserves
described can be profitably produced in the future. These statements are based
on current expectations that involve a number of risks and uncertainties, which
could cause the actual results to differ from those anticipated. Contingent
resources are those quantities of oil and gas estimated on a given date to be
potentially recoverable from known accumulations using established technology or
technology under development, but which are not currently considered to be
commercially recoverable due to one or more contingencies. Contingencies may
include factors such as economic, legal, environmental, political and regulatory
matters, or a lack of markets. Prospective resources are those quantities of oil
and gas estimated on a given date to be potentially recoverable from
undiscovered accumulations. The resources reported are estimates only and there
is no certainty that any portion of the reported resources will be discovered
and that, if discovered, it will be economically viable or technically feasible
to produce.




                                                                            
----------                                                                  
(1)       Reserves estimated by Deloitte LLP with an effective date of April
          30, 2013. See NZEC press release dated June 17, 2013 and          
          Cautionary Note Regarding Reserve and Resource Estimates.         



FOR FURTHER INFORMATION PLEASE CONTACT: 
New Zealand Energy Contacts
North American toll-free: 1-855-630-8997
John Proust - Chief Executive Officer & Director
Bruce McIntyre - Executive Director
Rhylin Bailie - Vice President Communications
& Investor Relations


New Zealand: 64-6-757-4470
Chris Bush - New Zealand Country Manager


Email: info@newzealandenergy.com
Website: www.newzealandenergy.com

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