SOURCE: New Frontier Energy, Inc.

December 13, 2007 07:11 ET

New Frontier Energy, Inc. Sets Production Casing on Battle Mountain Federal 13-12 and Battle Mountain Federal 13-5 Wells at the Slater Dome Field

DENVER, CO--(Marketwire - December 13, 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 that production casing has been set in the Battle Mountain Federal 13-12 and the Battle Mountain 13-5 wells at the Slater Dome Field.

Both wells encountered gas in the upper Iles sands and coals and in the Basal Iles, which is the main pay zone in the Slater Dome Field. Gas was also encountered in all of the basal Mesa Verde sands, the deepest sand being the Deep Creek sand that produces in nearby fields. Additionally gas was encountered in the fractured Mancos shale below the Deep Creek sand.

"We are excited about the potential of these two wells which concluded our 2007 drilling program in an extremely positive manner," said Paul G. Laird, President and CEO of New Frontier Energy.

Mr. Laird summarized the year adding, "New Frontier Energy completed eight new wells during 2007, two of which were approximately five miles from our existing Slater Dome CBM production. These two wells were a strategic part of the 2007 development plan intended to validate our belief that the Basal Isle coal seam that New Frontier Energy has been producing since 2005 is continuous across most of the 34,400 net acres held at Slater Dome. The electric logs from the two wells confirmed that this main producing formation is present. We intend to connect these two wells to the gathering line during the 2008 development program. The remaining six wells, drilled in close proximity to our existing compression and gathering line, are in various stages of connection in anticipation of production beginning during the 1st quarter of 2008. All six of these wells have producible methane gas in the coal seams targeted, and two of the six wells appear to have conventional gas zones present in addition to the coal seams."

The Company anticipates gas volumes to grow substantially during the first half of 2008, as dewatering continues, additional compression is added and the first six of eight new wells drilled during 2007 are connected to the pipeline. An estimate for proven natural gas reserves associated with the 2007 drilling program is expected to be available in the 2nd quarter of 2008.

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-our agreement to acquire 75% 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 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

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

    Investor Contact:
    BC Capital Partners
    Bill Conboy
    Phone: (303) 415-2290