Contact Information: For further information contact: New Frontier Energy, Inc. Paul G. Laird President (303) 730-9994 Investor Contact: BC Capital Partners Bill Conboy Phone: (303) 415-2290
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
| Source: New Frontier Energy, Inc.
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 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.