International Sovereign Energy Corp.
TSX : ISR

International Sovereign Energy Corp.

March 25, 2008 18:12 ET

International Sovereign Energy Corp.: Peace River, Alberta Drilling Activity

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2008) - International Sovereign Energy Corp. (the "Company ") (TSX:ISR) is pleased to report on a three-well drilling program in the Peace River Arch, Alberta area where the Company, in conjunction with its partners, acquired additional acreage in Q4, 2007. The first two gas wells, in which the Company holds a 31.6% and a 40% working interest (W.I.), were recently drilled and both wells have been cased for production. Completion of the first well (ISR 31.6%) tie-in and production commencement is expected by mid-April, 2008. Completion, tie-in and production of the second well (ISR 40%) will take place after spring breakup. These two wells are projected to produce approximately 2,500 mcf/d (417 boed/gross) providing approximately 146 boed/net to the Company. Drilling of the third well (ISR 40%) is in progress and appears to be promising via the early gas detection results. Completion results from the third well will be reported once they are available.

International Sovereign Energy Corp. is an oil and gas exploration development and production company with offices in Vancouver, British Columbia and Calgary, Alberta 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.

Shares Outstanding: 13,928,084

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.
    Omair Choudhry
    Chief Financial Officer
    (604) 684-7372
    (604) 684-2407 (FAX)
    Website: www.isove.com