News Releases
June
5, 2006
TSX:
“ISR”
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Outstanding: 13,245,4633
MANITOBA
DRILLING COMMENCES
International Sovereign Energy Corp. (the "Company") reports
that drilling has commenced on a two well program in two blocks
of land at Sinclair, Manitoba targeting Bakken formation (Mississippian-Devonian)
light 40o API oil. The targets offset a proven Bakken oil
discovery. Under the terms of the farm-in agreement the Company
will earn a 100% interest in the first well subject to a convertible
royalty. On completion of the second well the Company will
earn a 60% interest on the remaining lands. The blocks provide
a development opportunity for up to an additional ten wells
subject to successful results from the two initial wells.
At Forestburg, Alberta drilling of the second well testing
the lower Cretaceous Glauconite sand for commercial gas is
in progress. The initial Forestburg well was drilled, evaluated
and deemed non-productive. Upon completion of the second Forestburg
well, the drill rig will move to a third location at Milo
Alberta, (5-13-19-23W4) targeting Cretaceous sands for gas.
Planning for additional wells in the third quarter for Medicine
River (2 wells), Marwayne Alberta (up to 7 wells) is ongoing.
At Prevo, Alberta (well 6-21-39-1W5) the tie in is progressing
and gas sales from this well are expected during July, 2006.
At Medicine River (well 5-30-38-2W5) completion activities
are scheduled to commence next week. Both wells were drilled
during the Company¹s winter 2005/2006 drill program.
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 |
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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.
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