Infiniti Resources International Ltd.

Infiniti Resources International Ltd.

July 29, 2005 16:50 ET

Infiniti Resources Announces Annual Results

CALGARY, ALBERTA--(CCNMatthews - July 29, 2005) - Infiniti Resources International Ltd. (TSX VENTURE:IRL) announces its audited consolidated financial and operating results for the year ended March 31, 2005.


- Production increased to a record 135 BOE/d, compared to 79 BOE/d the previous year.

- Annual petroleum and natural gas revenues achieved a record $2,269,000, about double the total for the previous year.

- Funds from operations (cash flow) increased to $803,000, more than double the $377,000 of the previous year.

Financial and Operations Comparisons Year Quarter
ended March 31 ended March 31
Financial ($000) 2005 2004 Chg. 2005 2004
---------------- -----------------------------------
Petroleum and natural gas revenues 2,269 1,155 +96% 590 428
Funds from operations (cash flow) 803 377 +113% 253 202
Net income (earnings) 79 57 39% 77 (2)

Average period production (BOE/d) 135 79 +71% 137 112

Previously Announced Plan of Arrangement with Welton Energy Corporation

Infiniti has mailed to its shareholders the Information Circular with respect to the previously announced Plan of Arrangement involving Infiniti Resources International Ltd. and Welton Energy Corporation. Infiniti shareholders are to vote on the proposed plan of arrangement at a meeting on August 3, 2005 in Calgary.

Closing of the transaction is to occur soon thereafter, subject to shareholder and court approvals, after which Welton's stock is to trade on the Toronto Stock Exchange under the symbol "WLT" and Infiniti's stock would be de-listed.

Infiniti Resources International Ltd. is an emerging Canadian exploration and production company focused on creating profitable growth through deep, high-impact projects in Western Canada. Infiniti trades on the TSX Venture Exchange under the symbol "IRL".

Infiniti's public disclosure is available on SEDAR at Supplemental information, including links to information on Welton Energy Corporation, may be found at

Forward-looking and estimated information is included in the foregoing. While considered reasonable by Infiniti at the time, such forward-looking and estimated information may be incorrect, and future events and results may differ materially from forward-looking information.

WARNING: Infiniti relies on litigation protection for forward-looking statements.

A barrel of oil equivalent (BOE) is derived by converting natural gas to oil in the ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent. A BOE conversion may be misleading, particularly if used in isolation, as it is based on an energy equivalency conversion method primarily applicable at the burner tip and may not represent a value equivalency at the wellhead.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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