New Zealand Energy Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/09/12 -- New Zealand Energy Corp. (TSX VENTURE: NZ)(OTCQX: NZERF) ("NZEC" or the "Company") wishes to confirm, at the request of IIROC, that the Companys management team is not aware of any material change in the Companys activities that would account for the recent increase in market activity. NZEC is continuing with production and exploration activities at its properties in New Zealand, as per the corporate update issued on January 18, 2012.

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. NZECs property portfolio collectively covers nearly two million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealands North Island. The Companys management team has extensive experience exploring and developing oil and natural gas fields in New Zealand and Canada, and takes a multi-disciplinary approach to value creation with a track record of successful discoveries. 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.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Companys control, which may cause actual results or performance to differ materially from those currently anticipated in such statements. NZEC 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 this news release should not be unduly relied upon. These statements speak only as of the date of this news release and NZEC does not undertake to update any forward-looking statements that are contained in this news release, except in accordance with applicable securities laws.

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.