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. Provides Operational Updates
Investor Q&A Webcast Scheduled for 4:15pm EST, September 18, 2008
| Source: New Frontier Energy, Inc.
DENVER, CO--(Marketwire - September 15, 2008) - 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
operational developments for the Slater Dome Field and Focus Ranch Unit.
The Battle Mountain 13-5 well, drilled during the 2007 program, has reached
the final stages of completion and is expected to be placed in production
during October. The company encountered significant shows of oil during
the completion process. NFEI holds a 66% working interest at the Slater
Dome Field.
The Federal 12-1 well located on the adjacent Focus Ranch Unit is scheduled
for testing during October. The company plans a 24 hour flow test in both
the Niobrara and Frontier formations to determine if commercial quantities
of gas are present in the well.
New Frontier Energy has executed a farmout agreement whereby the Company
will acquire an average 74% working interest and become the operator of the
36,891 gross acres Focus Ranch Unit. The acreage is strategically located
adjacent to the Slater Dome Field and gas pipeline. The Federal 12-1 well
is located approximately 9 miles from the Company's compression facility at
Slater Dome.
Paul G. Laird, President of New Frontier Energy said, "While it is early in
the evaluation process for the Battle Mountain 13-5 we are very encouraged
with the potential for oil production, along with the potential for gas
production from the Iles coal section. Further testing is in progress which
will determine the final steps of how the well is completed."
"The Federal 13-5 well has confirmed several geologic features identified
by our 2D seismic analysis and the Company plans to offset a well targeting
similar features in the vicinity of the Federal 13-5 this fall," said Paul
Laird, President of New Frontier Energy, Inc.
Investor Webcast
New Frontier Energy CEO, Paul Laird will host an investor Q&A webcast on
Thursday, September 18, 2008 at 4:15 p.m. Eastern time. Please contact NFEI
investor relations at 303-415-2290 for additional information. To register
in advance for the webcast visit
http://www.visualwebcaster.com/event.asp?id=51453
What: Operations Update and Investor Q&A Webcast
When: Thursday, September 18, 2008 at 4:15 p.m. Eastern Time
Where: www.nfeinc.com
How: Live over the Internet - Via the New Frontier Energy website
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 four properties, the Slater Dome Field, located in northwest
Colorado and south central Wyoming; the Flattops Prospect located in
southwest Wyoming; the Amber Waves Prospect in the Denver Julesburg Basin
located in northeast Colorado, and has entered into a farm-out agreement to
acquire the Farmor's interest, ranging between a 74% and a 99% working
interest on a lease by lease basis, in the Focus Ranch Federal Unit,
located in Routt County, Colorado adjacent to and southeast of the Slater
Dome Field.
New Frontier Energy is focused 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 controlling interest in an 18-mile pipeline that delivers gas
from the Slater Dome Field to a regional transportation hub in Baggs
Wyoming. The Company is in the process of marketing the Amber Waves
Prospect to industry drilling partners. 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.