Ignis Petroleum Group (IGPG): Sherburne Field In this prospect, loc...

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Tina

Re: Tina post# 199

Friday, 04/04/2008 8:07:02 PM

Friday, April 04, 2008 8:07:02 PM

Sherburne Field
In this prospect, located in Pointe Coupee Parish, Louisiana, we will pay 15% of the drilling, testing and completion costs. Upon completion, we will earn a 15% working interest in the well before payout and an 11.25% working interest in the well after payout. Drilling operations commenced in August, 2006.

Our partner and the Operator, Rodessa Operating Company, has reached total depth on the development well. The well was directionally drilled to 10,205' measured depth, 9,750' true vertical depth. The well 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.

Please see our Operations Update of June 1, 2007 for the latest information.

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