International Sovereign Energy Corp.

International Sovereign Energy Corp.

January 31, 2006 12:02 ET

International Sovereign Energy Corp.: February/April-2006 Six Well Drill Program Update

CALGARY, ALBERTA--(CCNMatthews - Jan. 31, 2006) - International Sovereign Energy Corp. (TSX:ISR) (the "Company") reports that the logistics for the scheduled target by target drilling program on its existing land holdings in West Central Alberta, for the period February through April, 2006 is progressing. The first re-entry gas well is scheduled for re-completion during the second half of February, 2006. A further two re-entry gas wells and three new wells are scheduled to be drilled during March and April, 2006, subject to land access clearance and equipment availability. Depending on spring break-up conditions two additional targets encompassing new wells are also scheduled for drilling before the end of June, 2006. The total estimated drilling budget remains at the $5.0 Million range.

Additionally various Western Canadian projects are under technical review pursuant to the terms of the Company's recently announced joint venture agreement. Approved projects incorporating drill targets will be added to the above program.

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
    Senior Vice President Administration & Corporate Secretary
    (604) 684-7372
    (604) 684-2407 (FAX)