IGPG Ignis Petroleum Group Inc (CE)

Ignis Petroleum Group, Inc. (OTCBB:IGPG) announced today that the Inglish Sisters #3 well in the Barnett Shale has begun production after a successful completion. The Inglish Sisters #3 began recording revenue on April 7, 2006 and, as of April 17, 2006, has produced 1,300 barrels of oil and 7.1 million cubic feet of gas. Ignis holds 12.5% of the working interest, which is equal to a 9.375% net revenue interest, in the well before payout and 10% of the working interest, which is equal to a 7.5% net revenue interest, after payout. Ultimate recovery and reserve estimates will be determined based on an analysis of production data obtain during the next several months. The well is located in Cooke County, Texas and Rife Energy Operating, Inc. of Fort Worth, Texas is the operator. This well is the first of three wells in which Ignis is currently participating in the Barnett Shale. The other two, the Powell #1 well, located in Montague County, Texas and the Powell #2 well, located in Cooke County, Texas, are scheduled to be fully completed during the month of April 2006. Ignis holds the same level of working interests and net revenue interests in these wells as it does in the Inglish Sisters #3 well. Michael P. Piazza, President and CEO of Ignis stated, "We are pleased to have the opportunity to participate in these wells in which continual improvement in completion techniques are resulting in increased levels of average initial and sustained production rates in this more "oily province" of the Barnett Shale. These wells are part of Ignis' program to use advancing technology to enable recovery of oil and gas reserves in the onshore United States while building a diverse portfolio of proven oil and gas properties." About Ignis Petroleum Ignis Petroleum Group, Inc. is a Dallas-based oil and gas production company focused on exploration, acquisition and development of 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.