11:58 AM EST - Insignia Energy Ltd. : announced the results of its independent reserve evaluation, effective December 31, 2011, of the Company's reserves by GLJ Petroleum Consultants Ltd. In 2011, Insignia spent $27 million (unaudited), which represented approximately 1.1 times estimated 2011 cash flow, of which approximately 95% was directed towards drilling, completions and facilities. Proved reserves increased by 20% to 7.4 mmboe. Proved plus probable reserves increased by 5% to 15.4 mmboe. Based on field estimates, Insignia's production averaged approximately 3,500 boe per day and 3,350 boe per day for the fourth quarter and full year 2011, respectively, which equates to an annual average production growth of 15%. Insignia Energy Ltd.
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