SOURCE: New Frontier Energy

March 19, 2007 06:00 ET

New Frontier Energy, Inc. Secures Workover Rig for Slater Dome CBM Development Project

DENVER, CO -- (MARKET WIRE) -- March 19, 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, today announced a contract for exclusive use of a workover rig for the period May 1 through September 30, 2007.

"Securing the workover rig will allow us to optimize our development drilling program at the Slater Dome Field in addition to utilizing the rig for recompletions and stimulation treatment to enhance the production from our existing wells," said Paul G. Laird, President and CEO of New Frontier Energy.

2007 Slater Dome CBM Development Program

New Frontier Energy has secured both a drilling and workover rig capable of supporting the 2007 work program. Depending on progress made with the drilling schedule and permit approvals, the company expects to drill as many as 20 wells this summer.

About New Frontier Energy, Inc.

New Frontier Energy, Inc. is an independent natural resource company engaged in the exploration, acquisition and development of oil and gas properties. New Frontier Energy has interests in three principal properties: the Slater Dome Prospect, located in northwest Colorado and south central Wyoming; the Flattops Prospect located in southwest Wyoming; and the Nucla Prospect, located in western Colorado. The company's primary focus is on the development and expansion of the Slater Dome and the Flattops Prospects. Both projects are coal bed methane located in the Sand Wash Basin in northwest Colorado and southwest Wyoming -- the south eastern 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 and Flattops prospects to a transportation hub. 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

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

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

    Investor Contact:
    Bill Conboy
    Vice President
    CTA Integrated Communications
    Phone: (303) 665-4200