SOURCE: New Frontier Energy, Inc.

November 28, 2007 07:11 ET

New Frontier Energy, Inc. Sets Production Casing on the First Well in 2007 Fall Drilling Program

DENVER, CO--(Marketwire - November 28, 2007) - New Frontier Energy, Inc. (OTCBB: NFEI), a natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States, today announced that production casing has been set in the Battle Mountain Federal 12-13, the first well in the fall drilling program at the Slater Dome Field.

"We are pleased with preliminary results from this well and the rig has moved to the second drilling location in our 2007 fall development program," said Paul Laird, President of New Frontier Energy, Inc. "The second well, when completed will conclude the drilling program for 2007."

"The total number of new wells drilled for 2007 will fall short of our original plan primarily due to delays in rig availability," said Paul Laird. "In order to maximize gas production during 2007 our development efforts shifted toward reworking the existing producing wells at Slater Dome."

New Frontier Energy achieved a four-fold increase in gross production at the Slater Dome field as a result of the 2007 workover program. Gross production at Slater Dome for the 30 day period ended November 15, 2007 averaged approximately 1 million cubic feet per day. The Company anticipates gas volumes to grow substantially during 2008 as dewatering continues, new wells are connected to the pipeline, and additional compression equipment is added to the field.

About New Frontier Energy, Inc.

Based in Denver, CO, New Frontier Energy, Inc. is an independent natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States. New Frontier Energy has interests in three principal properties, the Slater Dome Field, located in northwest Colorado and south central Wyoming; the Flattops Prospect located in southwest Wyoming; and has entered into a farm-out agreement to acquire 75% working interest in the Focus Ranch Federal Unit, located in Routt County, Colorado adjacent to and southeast of the Slater Dome Field.

New Frontier Energy is focusing on expanding CBM gas production at the Slater Dome Field, and exploring the adjacent Focus Ranch Unit and Flattops prospects. The Slater Dome Field is a coal bed methane development project located in the Sand Wash Basin or Atlantic Rim area near the Colorado and Wyoming border, and is a sub-basin of the Greater Green River Basin. The company owns a majority of the limited partnership interests in an 18-mile gas gathering line that delivers gas from the Slater Dome Field to a transportation hub. New Frontier Energy's common stock is listed on the over the counter bulletin board under the symbol "NFEI." Additional information about New Frontier Energy, Inc. can be found at the Company's website

Forward-looking Statements

The statements contained in this press release which are not historical fact are forward looking statements that involve certain risks and uncertainties including, but not limited to, decreases in prices for natural gas and crude oil, unexpected decreases in gas and oil production, the timeliness, costs and success of development activities, unanticipated delays and costs resulting from regulatory compliance, and other risk factors described from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. No assurances can be given that these statements will prove to be accurate. A number of risks and uncertainties could cause actual results to differ materially from these statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Contact Information

  • For further information contact:
    New Frontier Energy, Inc.
    Paul G. Laird
    (303) 730-9994

    Investor Contact:
    BC Capital Partners
    Bill Conboy
    Phone: (303) 415-2290