International Sovereign Energy Corp.
TSX : ISR

International Sovereign Energy Corp.

June 05, 2006 11:46 ET

International Sovereign Energy Corp.: Manitoba Drilling Commences

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 5, 2006) - International Sovereign Energy Corp. (TSX:ISR) (the "Company") reports that drilling has commenced on a two well program in two blocks of land at Sinclair, Manitoba targeting Bakken formation (Mississippian-Devonian) light 40o API oil. The targets offset a proven Bakken oil discovery. Under the terms of the farm-in agreement the Company will earn a 100% interest in the first well subject to a convertible royalty. On completion of the second well the Company will earn a 60% interest on the remaining lands. The blocks provide a development opportunity for up to an additional ten wells subject to successful results from the two initial wells.

At Forestburg, Alberta drilling of the second well testing the lower Cretaceous Glauconite sand for commercial gas is in progress. The initial Forestburg well was drilled, evaluated and deemed non-productive. Upon completion of the second Forestburg well, the drill rig will move to a third location at Milo Alberta, (5 - 13 - 19 - 23W4) targeting Cretaceous sands for gas. Planning for additional wells in the third quarter for Medicine River (2 wells), Marwayne Alberta (up to 7 wells) is ongoing.

At Prevo, Alberta (well 6 - 21 - 39 - 1W5) the tie in is progressing and gas sales from this well are expected during July, 2006. At Medicine River (well 5 - 30 - 38 - 2W5) completion activities are scheduled to commence next week. Both wells were drilled during the Company's winter 2005/2006 drill 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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Contact Information

  • International Sovereign Energy Corp.
    Omair Choudhry
    Chief Financial Officer
    (604) 684-7372
    (604) 684-2407 (FAX)
    Website: www.isove.com