New Frontier Energy, Inc. Provides Operational Updates
September 15 2008 - 8:09AM
Marketwired
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 operational
developments for the Slater Dome Field and Focus Ranch Unit.
The Battle Mountain 13-5 well, drilled during the 2007 program,
has reached the final stages of completion and is expected to be
placed in production during October. The company encountered
significant shows of oil during the completion process. NFEI holds
a 66% working interest at the Slater Dome Field.
The Federal 12-1 well located on the adjacent Focus Ranch Unit
is scheduled for testing during October. The company plans a 24
hour flow test in both the Niobrara and Frontier formations to
determine if commercial quantities of gas are present in the
well.
New Frontier Energy has executed a farmout agreement whereby the
Company will acquire an average 74% working interest and become the
operator of the 36,891 gross acres Focus Ranch Unit. The acreage is
strategically located adjacent to the Slater Dome Field and gas
pipeline. The Federal 12-1 well is located approximately 9 miles
from the Company's compression facility at Slater Dome.
Paul G. Laird, President of New Frontier Energy said, "While it
is early in the evaluation process for the Battle Mountain 13-5 we
are very encouraged with the potential for oil production, along
with the potential for gas production from the Iles coal section.
Further testing is in progress which will determine the final steps
of how the well is completed."
"The Federal 13-5 well has confirmed several geologic features
identified by our 2D seismic analysis and the Company plans to
offset a well targeting similar features in the vicinity of the
Federal 13-5 this fall," said Paul Laird, President of New Frontier
Energy, Inc.
Investor Webcast
New Frontier Energy CEO, Paul Laird will host an investor
Q&A webcast on Thursday, September 18, 2008 at 4:15 p.m.
Eastern time. Please contact NFEI investor relations at
303-415-2290 for additional information. To register in advance for
the webcast visit
http://www.visualwebcaster.com/event.asp?id=51453
What: Operations Update and Investor Q&A Webcast
When: Thursday, September 18, 2008 at 4:15 p.m. Eastern Time
Where: www.nfeinc.com
How: Live over the Internet - Via the New Frontier Energy
website
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 four properties, the Slater Dome
Field, located in northwest Colorado and south central Wyoming; the
Flattops Prospect located in southwest Wyoming; the Amber Waves
Prospect in the Denver Julesburg Basin located in northeast
Colorado, and has entered into a farm-out agreement to acquire the
Farmor's interest, ranging between a 74% and a 99% working interest
on a lease by lease basis, in the Focus Ranch Federal Unit, located
in Routt County, Colorado adjacent to and southeast of the Slater
Dome Field.
New Frontier Energy is focused 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
controlling interest in an 18-mile pipeline that delivers gas from
the Slater Dome Field to a regional transportation hub in Baggs
Wyoming. The Company is in the process of marketing the Amber Waves
Prospect to industry drilling partners. 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
www.nfeinc.com.
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.
Investor contact: BC Capital Partners Bill Conboy (303) 415-2290
For further information contact: New Frontier Energy, Inc. Paul G.
Laird President (303) 730-9994
New Frontier Energy (CE) (USOTC:NFEI)
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