SOURCE: New Frontier Energy, Inc.

August 28, 2007 12:14 ET

New Frontier Energy, Inc. Provides Slater Dome Production & CBM Field Development Updates

Gross Field Production Increases 38% to 970 Mcf per Day Average During August

DENVER, CO--(Marketwire - August 28, 2007) - 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 has averaged 970 Mcf per day through August 25th, the date of the last field report.

August gross production represents an increase of approximately 38%, compared to the June 2007 period, which averaged 700 Mcf per day. The increased production at Slater Dome is primarily a result of a work over program of our existing producing nine wells initiated in June and completed in July 2007. Production during the six month period preceding the work over program averaged 250 Mcf per day. New Frontier Energy continues the completion stages of six new wells drilled during the 2007 summer program. The work includes fracture stimulating, as well as running gathering lines to the central compressor. The company executed a lease agreement to add an additional four stage compressor at the central compressor site capable of meeting the ramp up in gas production anticipated as a result of the new wells.

"The completion portion of our 2007 development program is moving ahead on schedule," said Paul Laird, President of New Frontier Energy, Inc. "Gas production from our six new wells is expected to begin during October. While the initial volumes may be nominal, we anticipate production will rise significantly at the Slater Dome CBM Field as dewatering continues, and new wells are added into production which tends to enhance desorption at existing wells located nearby."

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 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 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

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
    (303) 730-9994