IGPG Ignis Petroleum Group Inc (CE)

Ignis Petroleum Group, Inc. (OTCBB:IGPG), today announced that its partner and operator, Rodessa Operating Company, has reached total depth on the Louisiana Land Central No. l, their Sherburne Field development well. The well was directionally drilled to 10,205' measured depth, 9,750' true vertical depth. Ignis has a 15% before payout working interest in the well. "This well, located in Point Coupee Parish, Louisiana, identified two potentially productive gas intervals. The next step is to run production casing and complete the well in such a manner as to allow multi-rate flow testing of each interval showing potential gas production. The purpose of the tests is to establish commerciality. A determination to provide permanent production facilities and gas flow lines will be made pending the outcome of the tests. We will provide additional information once completion & testing activities are finished, which we expect to be within the next month," said Michael P. Piazza, President and Chief Executive Officer. About Ignis Petroleum Ignis Petroleum Group, Inc. is a Dallas-based oil and gas production company focused on exploration, acquisition and development of crude oil and natural gas reserves in the United States. The Company's management has closely aligned itself with strategic industry partnerships and is building a diversified energy portfolio. It focuses on prospects that result from new lease opportunities, new technology and new information. For further information, visit www.ignispetro.com. Safe Harbor for Forward-Looking Statements This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in oil and gas exploration, the need to obtain additional financing, the availability of needed personnel and equipment for the future exploration and development, fluctuations in gas prices, and general economic conditions.