News Releases
January
09, 2008
TSX:
“ISR”
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Outstanding: 13,928,084
MEDICINE
RIVER 2-25 GAS WELL ON PRODUCTION
International
Sovereign Energy Corp. (the “Company ”) is pleased
to report that the Medicine River, Alberta, 2-25 twin
gas well (85% W.I.) was successfully brought on production
as of December 27, 2007. The well is initially producing from
the Colony zone between 700 mcf/d to 800 mcf/d (116 to 133
boe/d gross). Once the Company observes how the gas gathering
system reacts to this high pressure well production will be
systematically increased in stages. The expectation is for
this well to be producing at the 1,000 mcf/d level (166 boe/d
gross) by about mid January, 2008.
With
the production from the 2-25 twin well the Company ’ s 2007
production exit rate is estimated to be 850 boe/d with and
additional (estimated) 400 boe/d "behind pipe" from
the Medicine River 2-25 twin wells (the uphole Belly River
and Edmonton Sands zones) and from Berwyn, Alberta 2-11 well
(the Bluesky, Paddy and Notikewin zones). The Company is working
on bringing this additional "behind pipe" production
on-line during the second half of 2008.
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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