News Releases
March
25, 2008
TSX:
“ISR”
Shares
Outstanding: 13,928,084
PEACE
RIVER, ALBERTA DRILLING ACTIVITY
International
Sovereign Energy Corp.
(the “Company ”) is pleased to report on a three-well drilling
program in the Peace River Arch, Alberta area where the Company,
in conjunction with its partners, acquired additional acreage
in Q4, 2007. The first two gas wells, in which the Company
holds a 31.6% and a 40% working interest (W.I.), were recently
drilled and both wells have been cased for production. Completion
of the first well (ISR 31.6%) tie-in and production commencement
is expected by mid-April, 2008. Completion, tie-in and production
of the second well (ISR 40%) will take place after spring
breakup. These two wells are projected to produce approximately
2,500 mcf/d (417 boed/gross) providing approximately 146 boed/net
to the Company. Drilling of the third well (ISR 40%) is in
progress and appears to be promising via the early gas detection
results. Completion results from the third well will be reported
once they are available.
International
Sovereign Energy Corp. is an oil and gas exploration development
and production company with offices in Vancouver, British
Columbia and Calgary, Alberta 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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