Ignis to acquire acreage in Bienville Parish

Ignis Petroleum Group, Inc, a Dallas-based oil and gas production company focused on acquisition, exploration and development of crude oil and natural gas reserves in the United States, has agreed to acquire all of the acreage and producing properties currently held by Anadarko Petroleum Corporation within the Liberty Hills prospect area, located in Bienville Parish, Louisiana. Upon closing, the effective date of the transaction will be April 1, 2007. Ignis will operate the property.

Ignis will pay a purchase price of $3 million in cash, before customary closing adjustments. The consummation of the agreement is subject to standard closing conditions. The transaction is scheduled to close on or before September 28, 2007. Ignis is in the process of finalizing its due diligence and financing.

Ignis will be acquiring more than 11,900 gross acres and one producing well, the Martin Timbers 9-1, which is currently producing natural gas from the Vaughn and Cadeville sands within the Upper Cotton Valley (”UCV”) formation. The acreage is covered by a recent 3D-seismic survey. Ignis will focus its development efforts on the UCV, which has both proven and prospective potential in various fault blocks within the acreage. Ignis may seek a working interest partner to further develop the property.