Infiniti Resources International Ltd.

Infiniti Resources International Ltd.

March 01, 2005 20:56 ET

Infiniti Resources Announces Third Financial Quarter Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INFINITI RESOURCES INTERNATIONAL LTD.

TSX VENTURE SYMBOL: IRL

MARCH 1, 2005 - 20:56 ET

Infiniti Resources Announces Third Financial Quarter
Results

CALGARY, ALBERTA--(CCNMatthews - March 1, 2005) - Infiniti Resources
International Ltd. (TSX VENTURE:IRL) announces its unaudited
consolidated results for the third financial quarter ended December 31,
2004.

Highlights

- Quarterly production increased to a record 137 BOE/d, compared to 52
BOE/d for the same period a year earlier. Year-to-date production nearly
doubled over the previous year.

- Quarterly petroleum and natural gas revenues achieved a record
$580,000, more than triple the $174,000 for the same period last year.
Year-to-date petroleum and natural gas revenues of $1.679 million more
than doubled the previous year's $728,000.

- Funds from operations (cash flow) increased to $163,000 for the
quarter, compared to negative $39,000 the year prior. Year-to-date cash
flow increased by 225% to $569,000.



Financial and Operations Comparisons
------------------------------------

Nine Months Three Months
ended Dec. 31 ended Dec. 31
Financial ($'000) 2004 2003 Chg. 2004 2003
----------------- ---------------------------------------
Petroleum and natural
gas revenues 1,679 728 +131% 580 174
Funds from operations
(cash flow) 569 175 +225% 163 (39)
Net income (earnings) 2 59 -97% (12) 9

Operations
----------
Average period production
(BOE/d) 134 68 +98% 137 52
Estimated early March 2005
production: 125 to 130 BOE/d
------------------------------------------------------------------------


Infiniti's complete Quarterly Report, including Financial Statements and
Management's Discussion and Analysis, has been filed on SEDAR at
www.sedar.com. Supplemental items can be found on Infiniti's website at
www.infiniti-resources.com.

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

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

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Infiniti Resources International Ltd.
    Gordon D. Holden
    President & CEO
    (403) 216-7781
    (403) 216-5826 (FAX)
    Email: info@infiniti-resources.com
    Website: www.infiniti-resources.com
    The TSX Venture Exchange has neither approved nor disapproved the
    information contained herein.