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 for Third and Fourth Wells Completed in the 2007 Drilling Program
New Well Completions Expanding Slater Dome CBM Development Area
| Source: New Frontier Energy, Inc.
DENVER, CO--(Marketwire - July 23, 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 Robidoux 13-6 and the Wyoming
State 34-13-89 1R wells, which are the third and fourth wells of the 2007
summer drilling program at the Slater Dome Field.
"The preliminary results from the Robidoux 13-6 and Wyoming State 34-13-89
1R wells are very encouraging, and we have commenced drilling the fifth
well of the 2007 drilling program," said Paul Laird, president of New
Frontier Energy, Inc. "The latest two wells were a strategic part of the
2007 development plan in that the Wyoming state well is approximately five
miles from our existing Slater Dome CBM production. We have long believed
that the Basal Isle and Williams Fork coal seams that New Frontier Energy
has been producing since 2005, which currently accounts for our 12 Bcf of
proven reserves, are contiguous across most of the 34,400 net acres held at
Slater Dome. When the Wyoming State 34-13-89 1R well is producing gas into
the pipeline, we will be one step closer toward establishing a much larger
development area."
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.