News Releases
October
04, 2007
Shares
Outstanding: 13,938,084
TSX:
“ISR”
DOMESTIC
ACTIVITIES UPDATE
International
Sovereign Energy Corp. (the “Company ”) is pleased
to report that the previously announced Peace River well,
in which the Company has a 40% W.I., has been successfully brought
on-line with a steady flow rate of 1,900 mcf/d; 127 boed net
to the Company. The Company, in conjunction with its partners,
was successful in adding to it’s Peace River area land position
by acquiring the balance of a section through the Crown land
sale held on October 03, 2007. The land holdings in the Peace
River Area now total 4,428 acres (1,771 Net); with the potential
for further growth. Initial results suggest that this area
could become an additional core area for the Company with
significant gas production capability.
In
the Medicine River area the Company is preparing to drill
the 2-25 twin (2,000 m), which has multiple zone gas potential;
(Basal Quartz, Glauconite, Colony, Belly River and Edmonton
Sands). This well, in which the Company holds an 85% W.I.,
is scheduled to be drilled by the end of October 2007, with
the completion and testing scheduled for November 2007. If
successful the Company expects this well to produce approximately
1,000 mcf/d (166 boed) and production can be brought on-line
prior to year end, 2007.
Mr.
David Quinn, VP has resigned from the Company to pursue other
opportunities. The Company’s technical staff will continue
to carry out planned activities without interruption.
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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