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News Releases

June 8, 2006

TSX: “ISR”               

Shares Outstanding: 13,250,4633

 

OPERATIONS AND DRILLING UPDATE

 

International Sovereign Energy Corp. (the "Company") reports that at Medicine River, Alberta (5-30-38-2W2 - 92.5% WI) the well has been fracture stimulated in the Belly River zone and early flowtest results indicate gas rates of up to 1 mmcf/d (165 BOED). The Company is exploring the potential to twin the well to a shallower depth to exploit the Edmonton Sand potential. This would allow an additional commercial gas opportunity at nominal cost without the necessity of a dual completion wellbore.

At Prevo (6-21-39-1W5 - 75% WI) the well tie-in activities are on schedule. Pending regulatory approvals, production is anticipated to commence in July, 2006 at production rates between 3/4 mmcf/d and 1 mmcf/d, (120-165 BOED).

Drilling continues in Sinclair area Manitoba. The second well at Sinclair, Manitoba is currently being drilled. The first well was cased as a potential Bakken oilwell, (35-40 degree API). The Company has the right to become the operator with a 60% ownership in future development work. The blocks provide a development opportunity for up to an additional ten wells subject to successful results from both initial wells.

The second well at Forestburg 12-10-42-16W4 was drilled for a Glauconite test, evaluated and subsequently abandoned. Both exploratory wells encountered gas but insufficient to be commercially viable. The rig used to drill the Forestburg wells is being moved to Milo, Alberta 5-13-19-23W4 to drill an exploratory lower Cretaceous test later this week.

Planning for additional wells in the third quarter for Medicine River (2 wells), Marwayne Alberta (up to 7 wells) remains 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:

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.


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