ISN Insignia Energy Com Npv

Insignia Energy Ltd. ("Insignia") (TSX VENTURE:ISN) is pleased to announce that
the trading of its common shares on the TSX Venture Exchange under the symbol
"ISN" has commenced after the previously announced completion of the plan of
arrangement (the "Arrangement") whereby Insignia acquired substantially all of
the assets of a private oil and gas company and was recapitalized.


After completing the Arrangement, Insignia has:

- An experienced management team consisting of Jeff Newcommon, President and
Chief Executive Officer, Glen Fischer, Chief Operating Officer, Steven J.
Mackay, Vice President Exploration and Brenda Hughes, Interim Chief Financial
Officer and a strong Board consisting of David Ambedian, Sandra S. Cowan,
Jeffery E. Errico, Christopher P. Slubicki, Jeff Newcommon, Jim Reid and Brian
Baker;


- Estimated production of approximately 850 - 900 BOE/d (80% weighted to natural
gas);


- Positive working capital of approximately $55 million assuming $25 million of
shares in connection with the Tricap Partners Ltd. ("Tricap") equity line are
issued;


- An undeveloped land base of approximately 145,000 net acres;

- A 15% working interest in the recently announced Crossfire discovery well at
9-1-50-6W4;


- A diverse portfolio of medium to low risk drilling and completion
opportunities and facility enhancement opportunities designed to improve
efficiencies at the operating cost level;


- Tax pool balances of approximately $60 million;

- A production base that is approximately 80% operated; and

- A strong financial partner in Tricap.

Shareholders are reminded that they have until 4:30 p.m. (Calgary time) on
September 4, 2008 to exercise their share purchase warrants issued in connection
with the Arrangement. Each warrant entitles the holder to acquire one common
share at a price of $6.80 per share prior to 4:30 p.m. (Calgary time) on
September 4, 2008.


About Insignia

Insignia is a Calgary-based oil and natural gas company engaged in the
exploration for and the acquisition, development and production of natural gas
and crude oil in western Canada. Insignia's common shares trade on the TSX
Venture Exchange under the symbol "ISN".


Cautionary Statements

Disclosure provided herein in respect of BOEs may be misleading, particularly if
used in isolation. A BOE conversion ratio of 6 Mcf to 1 Bbl is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead. All BOE conversions in
this press release are derived by converting gas to oil according to this 6 Mcf
to 1 Bbl ratio.


Certain information set forth in this press release, including without
limitation anticipated operating cost efficiencies, contains forward-looking
statements. By their nature, forward-looking statements are subject to numerous
risks and uncertainties, some of which are beyond Insignia's control, including
the impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
ability to access sufficient capital from internal and external sources. Readers
are cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on forward-looking
statements. Insignia Ltd's actual results, performance or achievement could
differ materially from those expressed in, or implied by, these forward-looking
statements and, accordingly, no assurance can be given that any of the events
anticipated by the forward-looking statement will transpire or occur, or if any
of them do so, what benefits that work and the combined company will derive
therefrom. Insignia disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by applicable securities laws.

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