International Sovereign Energy Corp.

International Sovereign Energy Corp.

October 04, 2007 16:40 ET

International Sovereign Energy Corp.: Domestic Activities Update

CALGARY, ALBERTA--(Marketwire - Oct. 4, 2007) - International Sovereign Energy Corp. (TSX:ISR) (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.

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.

Shares Outstanding: 13,938,084

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • International Sovereign Energy Corp.
    Omair Choudhry
    Chief Financial Officer
    (604) 684-7372
    (604) 684-2407 (FAX)