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 has commenced the 2007 summer drilling program and acquired a 66.67% working interest in an additional 600 gross acres in the Slater Dome Field. The new acquisition increases New Frontier's total Slater Dome Field holdings to approximately 64,400 gross acres (34,400 net acres).
Mr. Laird announced that a drilling rig moved on the first location in the summer program on the 12th of June. Mr. Laird also noted that, "We remain on target with our plan to drill between 10 and 20 new wells this summer."
"Expanding development at the Slater Dome Field is a principal focus of our company, so naturally, the acquisition of 600 additional acres straddling the gathering line will add to NFEI's development potential," said Paul G. Laird, President and CEO of New Frontier Energy
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:
CONTACT:
Paul G. Laird
President
New Frontier Energy, Inc.
(303) 730-9994
Bill Conboy
BC Capital Partners
303-415-2290
Source: New Frontier Energy, Inc.
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