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International TME Resources Inc. Acquires Additional Oil & Gas Leases for Its Mega West Joint Venture Project

Posted on: Friday, 24 March 2006, 09:01 CST

DALLAS, March 24 /PRNewswire-FirstCall/ -- International TME Resources Inc. is pleased to report that it has acquired an additional 2,885 acres of oil and gas leases for its Mega West Joint Venture. Total project acreage is now 13,385 acres, more or less. The joint venture project will develop a heavy oil and natural gas project in Southwest Texas. Additional leases for the project are being acquired on an ongoing basis. ITME retains a thirty per cent (30%) carried net profits interest in the project. ITME will acquire all of the leases and manage the drilling and development of the project as consideration for its interest. ITME management plans to complete the total block acquisition of oil and gas leases during the second quarter of 2006. Drilling is planned to begin during the summer of 2006.

Extensive geologic analysis of the Project Area indicates a large deposit of heavy oil at a depth of 1,000 to 1,200 feet in the Trinity Sands. Marble Falls Reef formations occur at depths of about 4,200 feet and contain abundant natural gas.

The Trinity Oil Sands at 1,000 feet depth have a total thickness of more than 70 feet and over 65% oil saturation, 30% porosity and thousands of millidarcies of permeability. The company's consulting geologist projects a multi-million barrel recoverable potential for the project.

Oil saturation can be figured at 25 million barrels of oil in place per 640-acre section. Comparable deposits can achieve a 60% recovery of oil in place for steam flood projects. Natural gas deposits in the Marble Falls formation have been mapped in multiple reefs throughout the Prospect Area and are projected to produce a minimum of 250 MMCFG (.250 BCF) of natural gas per well, based on previous production histories. A natural gas pipeline traverses the lease block and a ready market is assured.

For the Board Allen White, President

This document contains forward-looking statements within the meaning of Section 21 E of the Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ for reasons that include but are not limited to political and economic conditions in the countries in which the Company does or intends to do business, regulatory action, product pricing, change in drilling schedules and competitive market conditions. These forward-looking statements represent the Company's best judgment at the date of this document and any changes in assumptions or external factors could produce significantly different results.

International TME Resources Inc.

CONTACT: Conita Lyle of International TME Resources Inc.,+1-972-458-7013

Web site: http://www.tmeresources.com/

Source: PRNewswire-FirstCall

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