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News Releases

June 13, 2006

TSX: "ISR"               

Shares Outstanding: 13,250,463

 

DRILLING UPDATE

 

International Sovereign Energy Corp. (the "Company") reports that the second well at Sinclair, Manitoba was completed late last week. Both the first and second wells have been cased as potential Bakken light (35-40o API) oil wells. Both wells will be put on production for evaluation purposes. The two Sinclair blocks provide a development opportunity for up to an additional ten (10) wells subject to the evaluation results. The Company has now completed the terms of its farm-in agreement wherein the Company has earned a 100% interest in the first well subject to a convertible royalty and a 60% interest in the second well and in the blocks.

At Milo, Alberta (5-13-19-23 W4 / 100% WI) the rig has arrived on location. Subject to weather conditions drilling is scheduled to commence this week. The well is targeting Glauconite channel and Belly River gas.

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).

At Medicine River (5-30-38-2W2 / 92.5% WI) the Company finished completion activities following a post frac flowtest that approached 1 mmcf/d, (165 BOED) from the Belly River zone. The well also has Edmonton sands evaluation potential. Preliminary tie-in planning has begun to enable commercial production.

Planning for additional wells in the third quarter at 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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