Ivory Energy Inc.
TSX VENTURE : IV

Ivory Energy Inc.

December 13, 2007 11:42 ET

Ivory Update on 2007/2008 Development Program

CALGARY, ALBERTA--(Marketwire - Dec. 13, 2007) - Ivory Energy Inc. (TSX VENTURE:IV) announces an update to activities on its Silverdale oil properties in Saskatchewan.

Drill Program: Ivory will commence its 2008 Silverdale drilling program during January 2008. Ivory has identified 36 infill and step-out drilling locations that will be part of the 2008 drill program.

3-D Seismic Survey: Data acquisition of the 3-D seismic survey over a portion of Ivory's lands at Silverdale was completed during December 2007. Final processing and interpretation is scheduled to be completed during January 2008.

Flow Line & Water Flood: Ivory will begin flow lining a number of oil wells recently placed on production during early January 2008. This flow lining will proceed in conjunction with water flooding and secondary recovery of this portion of the Silverdale oil field.

Ivory Energy Inc. is a heavy oil producer in Saskatchewan that is rapidly increasing production, cash flow and reserves through low risk re-completions, workovers, infill drilling, and utilizing enhanced oil recovery methods. The Silverdale oil field, Ivory's flagship property, comprises compact geology, stacked oil reservoir sands, with discovered petroleum resources initially in place of 131 million barrels of oil(1) of which Ivory's net interest is estimated at 41%.

(1) Saskatchewan Industry & Resources, Reservoir Annual 2003

Boe or Boe/d are barrels of oil equivalent or barrels of oil equivalent per day. Boes may be misleading, particularly if used in isolation. A Boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

This news release contains statements concerning anticipated development activities on Ivory's properties. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on them. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.

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