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beigledog

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beigledog

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Tuesday, 12/05/2006 9:31:53 AM

Tuesday, December 05, 2006 9:31:53 AM

Post# of 92
ILGY (the buyer of TWOG)...

International Energy, Ltd. Has Signed LOI to Acquire 50% Interest in Oil Fields Located in Central Asia
Tuesday December 5, 9:00 am ET


ORLANDO, FL--(MARKET WIRE)--Dec 5, 2006 -- International Energy, Ltd. (Other OTC:ILGY.PK - News) has signed Letters of Intent to acquire 50% interest in oil fields located in the Atyrauskeye and Mangystauskeye regions of Kazakhstan with proven oil reserves of 140 Million barrels.

The joint venture partner in this project will be the Kazakhstan government. The purchase price of US$12 million will be applied to upgrading equipment to increase daily production at these fields.

CEO David Watson stated: "Kazakhstan provides a great opportunity for the realization of our company's strategic objectives due to the enormous oil and gas reserves in this region."

Beigledog
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