ISN Insignia Energy Com Npv

Insignia Energy Ltd. ("Insignia") (TSX VENTURE:ISN) is pleased to announce that
it has issued 1,440,187 common shares at a price of $6.80 per share to Tricap
Partners Ltd. ("Tricap") for gross proceeds to Insignia of $9,793,271.60.
Insignia intends to use the gross proceeds for general working capital purposes.
These shares were issued pursuant to a backstop provided by Tricap in connection
with the recently completed plan of arrangement (the "Arrangement") whereby
Insignia acquired substantially all of the assets of a private oil and gas
company and was recapitalized. After giving effect to the exercise and expiry of
all warrants issued in connection with the Arrangement and the backstop provided
by Tricap (but prior to giving effect to the $25 million equity line for the
issuance of up to 3,676,470 at an issue price of $6.80 per share) Insignia has
12,618,738 shares outstanding.


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

Certain information set forth in this press release, including without
limitation anticipated use of proceeds, 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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