Agoracom: Small Cap Investment - Ivory Energy Inc.

Alberta - Saskatchewan

Exploration, development and production of Oil and Natural Gas in Western Canada.

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

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Obed Gas Well Update

posted on Jan 20, 2009 05:04AM

West Central Alberta (Obed) Gas Well Update

August 7, 2008, Ivory Energy Inc. (IV: TSX.V) announces that further to our May 20, 2008 news release, the discovery gas well at Obed, Alberta is currently being pipelined and is expected to be on production by the end of August. Ivory initially had a 10% working interest in the gas well and has finalized a farm-in agreement for an additional 4% for a total of 14% working interest in this gas well at no additional cost to Ivory. This sweet gas zone flowed 11.3 mmcf of natural gas over a 48 hour test (averaging 5.46 mmcf/day) with peak rates of 10.5 mmcf/day. There was no discernable pressure depletion in the well at the end of the test. Ivory’s operator has delivered an independent notice of operations to Ivory and commenced drilling a development well offsetting the discovery gas well. Ivory has a 20% working interest in this offset well.

Ivory has stabilized oil and gas production, primarily from its Saskatchewan properties, and during July, sales were 610 boepd and expected to increase due to the commencement of the well restarting program. July sales had an estimated wellhead oil price of $96 per barrel.

Ivory Energy Inc. is primarily a heavy oil producer in Saskatchewan that is developing its oil properties and reserves through low risk re-completions, workovers, infill drilling, and enhanced oil recovery methods. Ivory currently has an inventory of over 50 infill and step-out locations to drill on its Saskatchewan properties.

For further information, please contact:

Ian E. Gallie, President & Chief Executive Officer
(403) 374-5000 or [email protected]
Website: www.ivoryenergy.com

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