Contact Information: 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, Inc. Sets Production Casing for 6th Well in 2007 Summer Drill Program
| Source: New Frontier Energy, Inc.
DENVER, CO--(Marketwire - August 7, 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, announced today
that production casing has been set in the Federal 14-13, the sixth well
of the 2007 summer drilling program at Slater Dome.
"The Federal 14-13 well is located approximately one mile west of our
initial producing wells at Slater Dome, and concludes the initial phase of
the 2007 drilling plan," said Paul Laird, President of New Frontier Energy,
Inc. "The workover rig will remain at Slater Dome to continue the
completions on the six wells we have drilled this summer. We are currently
building the field infrastructure necessary to produce our new wells, and
expect to have them in production this fall. In early September we will
begin phase two, drilling additional development acreage, based on the
results obtained during phase one."
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 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.