International Sovereign Energy Corp.

International Sovereign Energy Corp.

March 28, 2006 11:01 ET

International Sovereign Energy Corp.: Drilling Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2006) - International Sovereign Energy Corp. (TSX:ISR) is pleased to report that the early indications of the logs as well as gas detection equipment used while drilling Medicine River, 5 - 30 - 38 - 2W5 and Grimshaw, 10 - 17 - 84 - 22W5 wells were positive, both wells are to be cased as potential gas wells.

Medicine River, Alberta 5 - 30 - 38 - 2W5 (64% W.I. well) displays gas bearing zones in up to 6 intervals in the Edmonton Sands sequences. Also the Belly River sandstone has a 2 to 3 potential intervals of interest.

Grimshaw, Alberta 10 - 17 - 84 - 22W5 well (75% W.I. well) has gas shows in both the targeted lower cretaceous and triassic zone. (Bluesky/Gething and a secondary zone of interest, Montney). Both wells will under go completion activity after spring break-up to fully evaluate the commercial potential.

The drilling rig employed in Grimshaw, Precision 814 moved to its second location in the Peace River region and commenced drilling on March 25, 2006 at Berwyn 2 - 11 - 82 - 24W5 (100% W.I. well) to drill and evaluate the lower cretaceous zone within the next week.

Another activity which is aggressively being pursued is the re-entry into an existing wellbore near Sylvan Lake, Prevo 6 - 21 - 39 - 1W5 for a Colony zone test. A service rig has commenced operations on March 27th. The Company intends to re-complete, stimulate and test the well over the next ten days subject to municipal road restrictions.

The previously announced ten well drilling program for the first half of 2006 is progressing on schedule.

International Sovereign Energy Corp. is an oil and gas exploration development and production company with offices in Vancouver, British Columbia, Calgary, Alberta and Islamabad, Pakistan and is active in the exploration and development of hydrocarbon reserves in Western Canada and internationally.

Certain information provided in this press release contains forward-looking statements that by their nature are subject to numerous risks and uncertainties and readers are cautioned that actual results may vary considerably from those forecasted.

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The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • International Sovereign Energy Corp.
    Dr. Waseem Rahman
    (604) 684-7372
    (604) 684-2407 (FAX)