NSG New Sage Energy Corp.

New Sage Energy Corp. (TSX VENTURE:NSG) ("New Sage") is pleased to announce
their participation with Gulf South Operators (GSO) on the Valentine project in
Lafourche Parish, Louisiana. Two wells are anticipated to be drilled; GSO
Peltier #1 is targeting predominantly gas reserves and GSO Peltier #2 is
targeting predominantly oil reserves. This is the third development project
between New Sage and Gulf South Operators of New Orleans, Louisiana. Estimated
project costs, for a completed well test, are US $2.5 million for GSO Peltier #1
and US $2.2 million for GSO Peltier #2 and New Sage has taken a 10% working
interest in the wells and the project.


GSO Peltier #1           

The GSO Peltier #1 well will test acreage up-dip of the Peltier #16 well, which
was drilled in 1965 and produced 9.9 BCF through 1974.  The primary objectives
for this well are four sands, V, W, X and Y, between the depths of 9300' and
9900'. Recoverable reserves from any one of these sands are anticipated to be
economic. The planned recompletion with multiple objectives further enhances the
economic value of this prospect. The V, W, X and Y sands logged in the Peltier
#16 had over 90 feet of gas pay with no water levels. Secondary objectives exist
within the shallowest V sand interval, as additional reservoir candidates have
been observed in nearby wells. 


GSO Peltier #2 

The GSO Peltier #2 well will capture reserves in a zone partially produced by
the Amoco Peltier #2 and #4 wells. Additional oil reserves are anticipated
up-dip of the Amoco Peltier #2 well. In addition, as much as 50' of unproduced
Tex W pay sand (a separate potential pay zone) will be tested by GSO Peltier #2.
The Tex W interval consists of four sands, including the R, S, T and U sands.
Amoco Peltier # 4 produced oil from the lowermost U sand, and potential bypassed
reserves exist in this sand. The P sand appears to be productive on the log in
the down-dip Amoco Peltier #2 well, which was not produced. The M sand is a
highly productive field pay sand that will also be evaluated by GSO Peltier #2. 


GSO Peltier #1 is targeting oil and gas reserves in four distinct sands for a
total of 5.6 BCF of gas and 17,000 bbls oil (950,000 BOE @ 6 mcf:1 bbl). GSO
Peltier #2 is targeting oil reserves in four distinct sands for a total of
430,000 bbls oil. 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. 


"Our technical team conducted extensive due diligence, on dozens of prospects,
over the last four months" stated John Carlesso President & CEO. "The targets at
the Valentine project have geographical and geotechnical characteristics which
align extremely well with our development objectives and business model."


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. 


The securities of New Sage being offered have not been, nor will be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.

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