International Sovereign Energy Corp.

International Sovereign Energy Corp.

January 09, 2008 12:34 ET

International Sovereign Energy Corp.: Medicine River 2-25 Gas Well on Production

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2008) - International Sovereign Energy Corp. (TSX:ISR) (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.

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: 13,928,084

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)