News Releases
March
28, 2006
TSX:
“ISR”
Shares
Outstanding: 13,242,130
DRILLING
UPDATE
International
Sovereign Energy Corp. is pleased to report that the
early indications of the logs as well as gas detection equipment
used while drilling Medicine River, 5-30-38-2W5 and Grimshaw,
10-17-84-22W5 wells were positive, both wells are
to be cased as potential gas wells.
Medicine
River, Alberta 5-30-38-2W5 (64% W.I. well) displays gas
bearing zones in up to 6 intervals in the Edmonton Sands
sequences. Also the Belly River sandstone has a 2 to
3 potential intervals of interest.
Grimshaw,
Alberta 10-17-84-22W5 well (75% W.I. well) has gas shows
in both the targeted lower cretaceous and triassic zone. (
Bluesky/Gething and a secondary zone of interest,
Montney ) . Both wells will under go completion activity after
spring break-up to fully evaluate the commercial potential.
The
drilling rig employed in Grimshaw, Precision 814 moved to
its second location in the Peace River region and commenced
drilling on March 25, 2006 at Berwyn 2-11-82-24W5 (100% W.I.
well) to drill and evaluate the lower cretaceous zone within
the next week.
Another
activity which is aggressively being pursued is the re-entry
into an existing wellbore near Sylvan Lake, Prevo 6-21- 39-1W5
for a Colony zone test. A service rig has commenced operations
on March 27th. The Company intends to re-complete, stimulate
and test the well over the next ten days subject to municipal
road restrictions.
The
previously announced ten well drilling program for the first
half of 2006 is progressing on schedule.
International
Sovereign Energy Corp. is an oil and gas exploration development
and production company with offices in Vancouver, British
Columbia, Calgary, Alberta and Islamabad, Pakistan and is
active in the exploration and development of hydrocarbon reserves
in Western Canada and internationally.
For
further information, please contact:
Dr.
Waseem Rahman
Director
Tel:
(604) 684-7372
Fax:
(604) 684-2407 |
|
Or
visit our website at www.isove.com
The
Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information provided in this press release contains
forward-looking statements that by their nature are subject
to numerous risks and uncertainties and readers are cautioned
that actual results may vary considerably from those forecasted.
|
