SOURCE: New Frontier Energy, Inc.

April 21, 2008 09:13 ET

New Frontier Energy, Inc. Boosts Production at Slater Dome CBM Field

Gross Production Increased 282% for March 2008 Period Totaling 34.3 Million Cubic Feet, With a Corresponding Revenue Increase of 463%

DENVER, CO--(Marketwire - April 21, 2008) - New Frontier Energy, Inc. (OTCBB: NFEI), a natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States, announced today that gross production at the Slater Dome CBM Field increased 282%, to 34.3 million cubic feet for March of 2008, compared to 12.1 million cubic feet produced in the March 2007 period.

New Frontier Energy holds a 66% working interest in the Slater Dome CBM Field.

Revenue based on NFEI's working interest for the month of March 2008 was $142,500, representing a 463% increase compared with $30,800 received during the same period in 2007. The Company received an average price of $7.78 per MCF during March 2008, compared to $4.74 per MCF received during the March 2007 period, a 164% increase.

Gross production for March of 2008 increased 18% compared to February 2008, which totaled 27.4 Million cubic feet. NFEI's monthly revenue for March 2008 increased $39,000 compared to February 2008, representing a 38% sequential increase. The Company received an average price of $7.06 per MCF during February 2008.

"The takeaway capacity of the Rex West pipeline continues to provide Rocky Mountain producers improved pricing for natural gas and we hope our selling price will eventually approach parity with the widely quoted Henry Hub price in the future," said Paul Laird, President of New Frontier Energy, Inc. "We intend to capitalize on this improved pricing scenario by boosting production significantly during 2008. Our new compression facility which comes on line at the end of April will facilitate producing from 6 additional wells drilled during 2007."

About New Frontier Energy, Inc.

Based in Denver, CO, New Frontier Energy, Inc. is an independent natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States. New Frontier Energy has interests in three principal properties, the Slater Dome Field, located in northwest Colorado and south central Wyoming; the Flattops Prospect located in southwest Wyoming; and has entered into a farm-out agreement to acquire 74% working interest in the Focus Ranch Federal Unit, located in Routt County Colorado adjacent to and southeast of the Slater Dome Field.

New Frontier Energy is focusing on expanding CBM gas production at the Slater Dome Field, and exploring the adjacent Focus Ranch Unit and Flattops prospects. The Slater Dome Field is a coal bed methane development project located in the Sand Wash Basin or Atlantic Rim area near the Colorado and Wyoming border, and is a sub-basin of the Greater Green River Basin. The company owns the general partnership interest and a majority of the limited partnership interests in an 18-mile gas gathering line that delivers gas from the Slater Dome Field to a transportation hub. New Frontier Energy's common stock is listed on the over the counter bulletin board under the symbol "NFEI." Additional information about New Frontier Energy, Inc. can be found at the Company's website www.nfeinc.com.

Forward-looking Statements

The statements contained in this press release which are not historical fact are forward-looking statements that involve certain risks and uncertainties including, but not limited to, decreases in prices for natural gas and crude oil, unexpected decreases in gas and oil production, the timeliness, costs and success of development activities, unanticipated delays and costs resulting from regulatory compliance, and other risk factors described from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. No assurances can be given that these statements will prove to be accurate. A number of risks and uncertainties could cause actual results to differ materially from these statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Contact Information

  • Investor contact:
    BC Capital Partners
    Bill Conboy
    (303) 415-2290

    For further information contact:
    New Frontier Energy, Inc.
    Paul G. Laird
    President
    (303) 730-9994