SOURCE: Insight Management Corporation

Insight Management Corporation

December 21, 2009 07:24 ET

Insight Management Oil & Gas Services Subsidiary Leveraging Increased Drilling to Grow Sales and Market Share

ORCUTT, CA--(Marketwire - December 21, 2009) - Insight Management Corporation (OTCBB: ISIM) announced that increased oil and gas leasing and drilling activity is creating opportunities to add new business as well as increase sales to existing customers. Wholly owned subsidiary Rebel Testing, Inc. is taking advantage of the recent upswing in exploration and production to generate additional revenue and increase market share for its natural gas well servicing business.

Oil prices have more than doubled since last December's lows, and gas futures have risen approximately 93% from lows reached this September. Oil and gas rig counts had decreased over the past year but have started to recover as energy prices bounce back amid signs of economic recovery in the U.S. (Dow Jones, December 4, 2009)

The number of drilling rigs actively exploring for or developing oil and natural gas in the United States rose to 1,107 in November. This is an increase of 63 from the 1,044 rigs counted in October, according to the November 2009 Rotary Rig Count published by oil field services company Baker Hughes Inc. (BHI).

The U.S. Department of the Interior reported on November 13, 2009 that since January the Bureau of Land Management has held 29 onshore oil and gas lease sales and the Minerals Management Service has conducted two offshore auctions. Together these sales offered more than 55 million acres of U.S. public land for oil and natural gas exploration and development.

Wholly owned Insight Management subsidiary Rebel Testing, Inc. is an oil and gas services company providing pump hoist services for customers in the greater Powder River Basin and blow out prevention services in Colorado, Wyoming and Utah. The company has an 18-year history of profitable operations and longstanding relationships with customers. Rebel Testing's Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) more than doubled during the third quarter to $214,505, an increase of 131% over the second quarter of 2009.

Rebel Testing's management team has seen an increase in both natural gas leasing and drilling in the territories it serves. The company is working to develop potential new business from both new and existing customers as a result of the increased operations. The subsidiary is also picking up business from service companies that have not been able to weather adverse market conditions.

President and CEO Jennifer Rapacki commented: "Insight Management subsidiary Rebel Testing maintained profitability and increased sales during the economic downturn and more than doubled net profit last quarter. Now that drilling is rebounding and gas prices have reversed their decline, new sales opportunities are arising that we believe could significantly increase our revenue and market penetration."

About Insight Management Corporation (OTCBB: ISIM)

Insight Management Corporation (ISIM) is a public holding company focused on the energy industry. The company acquires oil and gas services businesses with substantial revenues, profitable operations, established customers and proven management teams. Insight Management creates synergistic alliances, provides access to capital markets and capitalizes on the expertise of its subsidiaries to achieve company growth and value for shareholders.

About Rebel Testing, Inc.

Rebel Testing, Inc. of Gillette, Wyoming, has been in business for over eighteen years and is a leading Rocky Mountain regional oil and gas field services provider. The company maintains a fleet of pump hoist trucks servicing the greater Powder River Basin. RTI also has operations based in Colorado servicing and pressure testing blow out preventers and provides these services in the greater Colorado, Wyoming and Utah areas. Customers include, among others, two Fortune 500 oil and gas corporations.

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. ISIM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the ISIM's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the ISIM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. ISIM undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

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