Ignis Petroleum Group, Inc.
OTC Bulletin Board : IGPG

October 12, 2005 07:59 ET

Ignis Petroleum Group, Inc. Announces Gas Discovery at Prospect in Chambers County, Texas

DALLAS--(CCNMatthews - Oct 12, 2005) -

Ignis Petroleum Group, Inc. (OTCBB:IGPG) (the "Company") is pleased to announce that the initial test well on the ACOM A-6 prospect in Chambers County, Texas encountered a gas bearing zone at a depth of approximately 9,500 feet. The zone appears to contain approximately 15 feet of net gas pay. The Company holds a 25% working interest in the prospect. The Company and its partner currently are preparing to complete the well and anticipate moving a completion rig to the site soon. Production is expected to commence in the fourth quarter.

Commenting on the success, Michael Piazza, President and CEO, said "I am extremely pleased with the success of our initial well on the ACOM A-6 prospect. The anticipated production will allow Ignis to move from being an emerging E&P company to a producer."

About Ignis Petroleum

Ignis Petroleum Group, Inc. is a Dallas-based oil and gas company commencing its business plan for the exploration, acquisition and development of crude oil and natural gas properties in the United States. Company management plans to build an energy portfolio that combines low-risk, high-potential projects with higher-yield, higher-risk projects. The Company 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.

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