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New Zealand Energy Corp: Results of 2015 Annual General Meeting of Shareholders

June 16, 2015

June 16, 2015 – Wellington, New Zealand - New Zealand Energy Corp. (“NZEC” or the “Company”) (TSX-V: NZ, OTCQX: NZERF) advises that the Annual General Meeting of shareholders was held in Wellington, New Zealand yesterday (Tuesday June 16, 2015 NZT).

A total of 101,554,323 common shares representing approximately 44% of the total issued and outstanding common shares were voted at the meeting.

Each of the nominees proposed by management was elected as a director of the Company to hold office until the next annual general meeting, or until successors are elected or appointed:

Nominee Position Percentage of Votes for
James Willis Chairman 99.89%
Mark Dunphy Director 99.55%
Dr. David Llewellyn Director 99.88%

Shareholders voted in favour of all items of business put forth at the meeting, as outlined below:

Motion Percentage of Votes for
To appoint PricewaterhouseCoopers as Auditors of the Company 98.50%
To approve the Company's Amended 2011 Stock Option Plan 98.90%
To approve Geoservices Limited becoming a new Control Person of the Company * 97.88%

*No Shares held by Geoservices Limited were voted with regard to this motion.

As foreshadowed in the Company’s announcement on 23 March 2015, the former Chairman, Mr John Greig, retired as a director at the Annual General Meeting.  The Board wishes to extend their thanks and appreciation to Mr Greig for his services to the Company.  Mr Greig has devoted a considerable amount of time and effort to the activities of the Company since the commencement of operations of the Company in April 2010.

The annual general meeting also saw the retirement of Mr John Proust as a director.  Mr Proust was the founder of the Company and served as the Company’s chief executive from commencement of the Company’s operations in 2010 until December 2014.  As a result of his efforts, the Company now has a portfolio of prospective acreage in the heartland of New Zealand’s onshore Taranaki Basin – the only producing hydrocarbon basin in New Zealand.  The current board extends their thanks and appreciation to Mr Proust.

The occasion of the retirement of Messrs. Greig and Proust sets the stage for the Company to focus on its business and assets with a clean canvas.

A further outcome of the annual general meeting is the appointment of Dr. David Llewellyn to the board.  The Company is pleased to have a professional of the caliber of Dr. Llewellyn join the board.  Dr. Llewellyn has enjoyed a distinguished career as a senior executive with a major company in the international oil and gas business spanning more than 35 years.  He brings to the board significant depth and breadth of practical expertise in technical and business/commercial disciplines along with a proven track record of effective leadership, governance, and global business delivery.

On behalf of the Board of Directors

“James Willis”   


New Zealand Energy Contacts

Email: info@newzealandenergy.com

Website: www.newzealandenergy.com

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.

About New Zealand Energy Corp.

NZEC is a publicly-traded company (TSX-V:NZ) focused on the production and exploration of oil and natural gas prospects in New Zealand.

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