SOURCE: International Energy, Ltd.

December 05, 2006 09:00 ET

International Energy, Ltd. Has Signed LOI to Acquire 50% Interest in Oil Fields Located in Central Asia

ORLANDO, FL -- (MARKET WIRE) -- December 5, 2006 -- International Energy, Ltd. (PINKSHEETS: ILGY) has signed Letters of Intent to acquire 50% interest in oil fields located in the Atyrauskeye and Mangystauskeye regions of Kazakhstan with proven oil reserves of 140 Million barrels.

The joint venture partner in this project will be the Kazakhstan government. The purchase price of US$12 million will be applied to upgrading equipment to increase daily production at these fields.

CEO David Watson stated: "Kazakhstan provides a great opportunity for the realization of our company's strategic objectives due to the enormous oil and gas reserves in this region."

About International Energy, Ltd.

International Energy, Ltd. intends to become a worldwide company specializing in the extraction and production of oil and gas. The company's vision is to establish and enhance the company's foundation for future growth by developing properties that provide a balance between short and long-term reserves in both the oil and natural gas markets. Oil and gas-related activities will include acquiring additional properties with potential for development and drilling. The company will work to establish and maintain a significant inventory of undeveloped prospects. The company emphasis is on production, cash flow and reserve value, which will be attained by exploring for, developing, and purchasing oil and gas properties worldwide.

Safe Harbor Statement

The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. Any forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.

Contact Information

  • CONTACT:

    International Energy, Ltd.
    D. Watson
    Tel: (407) 574-6623
    Email: ilgyinfo@yahoo.com