SOURCE: New Frontier Energy, Inc.

November 15, 2005 06:01 ET

New Frontier Energy, Inc. (NFEI) Provides Project Development Update

DENVER, CO -- (MARKET WIRE) -- November 15, 2005 -- New Frontier Energy, Inc. (OTC BB: NFEI) today announced that the Company and its working interest partners have acquired a leasehold interest in an additional 2,634 gross acres in its Slater Dome Prospect by successfully bidding on the acreage at the federal oil and gas lease sale held on November 10, 2005. The acquisition is significant as the newly acquired acreage offsets existing gas production and will allow the Company to continue the prudent development of the Slater Dome Prospect.

The Slater Dome Prospect consists of approximately 34,265 gross acres of oil and gas leases operated by an independent third party; the Company has a 30% working interest in the prospect. The Company and its exploration partners have drilled twelve gas wells at the Slater Dome Prospect and have one water disposal well. The Company commenced production from six wells in June 2005 and has tied a seventh well into the gathering line in November 2005.

Paul G. Laird, New Frontier's and CEO, commented, "We anticipate increasing gas volumes from our wells as the dewatering process continues. As is common with many coalbed methane fields, a period of dewatering the coalbeds is generally required, and is associated with steadily increasing gas production. While encouraged by the present levels of methane gas production, additional production history will be required before the full commercial and reserve potential of these wells is known."

About New Frontier Energy, Inc.

New Frontier Energy, Inc. is an independent energy company engaged in the exploration, development and production of natural gas and oil and the acquisition of natural gas and oil properties. The company's current and primary focus is on the development and expansion of the Slater Dome coalbed methane project located in the Sand Wash Basin in northwest Colorado and southwest Wyoming -- the southern end of the "Atlantic Rim". The Company owns a majority of the limited partnership interests in the 18-mile gas gathering line that delivers gas from the Slater Dome prospect to a transportation hub. New Frontier Energy also holds 28 different leasehold interests in approximately 40,000 gross acres in its Nucla Prospect located in southwest Colorado. The company'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.

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

  • For further information contact:
    Paul G. Laird
    President/CEO
    Phone: 303-730-9994
    Forward-looking Statements