New Frontier Energy, Inc., a natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States, today announced that the Company set production casing in a new well drilled at the Slater Dome Field (http://www.nfeinc.com/projects.php).
"Although it is premature to predict commerciality of this well, we are pleased with preliminary results and have commenced drilling the second well in the program," commented Paul Laird president of New Frontier Energy Inc. "The initial wells of the 2007 drill program focus on expanding CBM production at the Slater Dome Field which currently has nine producing wells. Later this summer, we anticipate testing Frontier and Niobrara formations with the Federal 12-1 well located on the 38,600 acre Focus Ranch Unit adjacent to our Slater Dome acreage and gathering line. The company is on target to drill between 10 and 15 new wells this summer."
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. 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 the Focus Ranch Federal Unit, located in Routt County Colorado adjacent to and southeast of the Slater Dome Field. 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 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.
Contact:
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
Source: New Frontier Energy, Inc.
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