New Sage Energy Corp.

New Sage Energy Corp.

November 26, 2009 08:30 ET

New Sage Energy Corp. Announces That the J. Leger # 1 Well Was Recently Drilled and Completed in the LaFourche Crossing Field

TORONTO, ONTARIO--(Marketwire - Nov. 26, 2009) - New Sage Energy Corp. (TSX VENTURE:NSG), is pleased to announce that the J. Leger # 1 well was recently drilled and completed in the LaFourche Crossing Field. The well reached a total depth of 10,648' and was completed between 10,614' and 10,643' with initial flow test results that show a tubing pressure of 3610 psig, a flow rate of 910 mcf/d natural gas and 29 bbls/d of 52° API oil, equivalent to roughly 100 BOE/d. New Sage holds a 5% working interest in the J. Leger #1 well.

The well is expected to be equipped and tied-into existing infrastructure and put onto production in the next 2-3 weeks. Several additional formations containing hydrocarbons have been identified on the side-wall core and log analysis that will be considered as completion candidates for the future. These include zones at 8100', 9850', 10100', 10180', and 10375'.

About New Sage Energy
New Sage Energy is a Canadian oil and gas exploration and development company with a focus on opportunities in South America and the US Gulf States region.

The term BOE refers to barrel of oil equivalent. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf (six thousand cubic feet) to 1 bbl (one barrel) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by New Sage Energy Corp. The forward-looking statements or information contained in this news release are made as of the date hereof and New Sage Energy Corp. does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • New Sage Energy Corp.
    John Carlesso
    President and CEO