News Releases
May
19, 2006
TSX:
“ISR”
Shares
Outstanding: 13,245,463
DRILLING
PROGRAM CONTINUES
International
Sovereign Energy Corp. continues to execute its second
quarter drilling program. The Kinnell #6 rig is
moving today to Forestburg, Alberta to drill the first of
two wells, (1-11 and 12-10-42-16W4). The two wells are drilled
to test the lower Cretaceous for a Glauconite channel gas
bearing sand. International Sovereign is paying 100%
to earn a 70% working interest upon election of the farmor
and also subject to the election of company's joint venture
partner, Norglen Energy Corporation.
Additional
activity proposed in the second quarter is a third well
for the Kinnell rig in the Milo, Alberta and two
additional wells targeting gas in Medicine River, Mannville and
the initiation of the heavy oil expansion program (seven
wells) in Marwanye, Alberta. Early in the third quarter, two
non-operated wells are planned to commence drilling in Sinclair
Manitoba for light oil.
Three
wells drilled late in the first quarter (Medicine River, Peace
River area two wells) were cased as potential gas wells
with one other well re-entered (Prevo, Alberta) and was
successfully tested for gas. Tie-in plans for all four
wells are being generated, with commercial gas sales anticipated
in the third quarter.
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:
Omair
Choudhry
Chief
Financial Officer
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.
|
