New Sage Energy Announces Successful Completion of Peltier #2 Well

New Sage Energy Corp (TSX VENTURE:NSG) ("New Sage") is pleased to announce the
completion of the Valentine Field, Peltier #2 well. This is the third
development project between New Sage and Gulf South Operators of New Orleans,
Louisiana. New Sage has a 10% working interest in the well and the project.


Peltier #2 was drilled within the well known Valentine Field and targeted
approximately 430,000 barrels of oil from as many as six zones. The well
encountered six potentially productive zones beginning with the R-sand, with no
associated oil or water. It was noted during the prospect review that individual
sands, had significant oil production (between 100,000 and 400,000 bbls oil)
from several wells in the Valentine field. 


The well is expected to be tied into a local pipeline and put into production.
The gas cap within the currently completed zone will be produced and production
from the well is anticipated to change from gas to oil in a relatively short
time following hook-up of the well. 


"We are very encouraged by the initial results to date on the Peltier #2 well,
which continues our track record of success with GSO" said John Carlesso
President and CEO. "Additional results are expected shortly following the
testing of the sands that had oil showing during the initial drilling phase". 


Peltier #2 well was completed at a depth of 8,500', production casing was
perforated between 8486' and 8497' across the R-sand that had a minimum of five
feet of net pay characterized by an average of 25% effective porosity with gas
and condensate detection and low water saturations (20 to 24%) on side wall core
analyses. Successive zones include the R-sand upper (4'), O and O-2 sands (10'),
N-sand (8') and M-sand (5') that have moderate to high porosities indicated on
logs with condensate and oil saturations detected on side wall core analyses.
These sands are expected to produce condensate initially, followed by oil once
they are completed and put into production. 


Reservoirs within Louisiana are very young and porous with moderate to high
permeability, which translates into reservoirs that produce gas, condensate and
oil very quickly. Multiple zone completions are required for each well, which
can provide the benefit of higher reserves per well and final net revenues. An
operator in the Gulf Coast and its working interest owners can achieve pay-out
of the well or project with a high rate of return within a relatively short time
compared to other conventional oil and gas plays within older sedimentary basins
because these reservoirs are not as prolific.


New Sage continues to look at additional opportunities in the US Gulf States and
across North America. 


About New Sage 

New Sage is a Canadian oil and gas exploration and development company with a
focus on opportunities in the US Gulf States region and South America. The
company is building a portfolio of production, through exploration and
development opportunities with established joint venture partners. 


Forward-Looking Statements: This news release contains forward-looking
statements that involve risks and uncertainties. Forward-looking statements or
information are based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause actual results to
differ materially from those anticipated by New Sage. The forward-looking
statements or information contained in this news release are made as of the date
hereof and New Sage does not undertake any obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws. 


BOEs may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.

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