International Sovereign Energy Corp. Announces Completion of $2,650,000 Offering

CALGARY, ALBERTA -- (Marketwire) -- 09/19/08 -- International Sovereign Energy Corp. (the "Company") (TSX: ISR) is pleased to announce that it has successfully completed a maximum offering (the "Offering") of $2,650,000 of Units (the "Units") led by Canaccord Capital Corporation (the "Agent") on a best efforts agency basis.

Each Unit consists of one Class A common share and one half of one transferable Class A common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one Class A common share for a period of 12 months following the closing date at a price of $1.50 and at $2.00 per share in the subsequent 12 months. If, over a period of 20 consecutive trading days, the Company's stock price four months after closing of the Offering and before the warrant expiry date exceeds the warrant exercise price by 30% on a daily closing volume weighted average basis, the Company may, within 30 days of such occurrence, give written notice to the holders that the warrant will expire on the 30th day following the date of such notice unless exercised by the holders.

In connection with the Offering, the Company paid compensation to the Agent consisting of (i) an 8%, or $212,000, cash commission; (ii) 212,000 Agent's Warrants, each being exercisable into one Class A common share at $1.25 within 24 months of closing; and (iii) a corporate finance fee of 48,000 Units.

"We are delighted to have received this vote of confidence from our investors, particularly in light of the current turmoil in the financial markets," said Eugene Hretzay, President and C.E.O of the Company.

The net proceeds of the Offering will be used by the Company for development of its oil and gas properties and for general corporate purposes.

International Sovereign Energy Corp. is an oil and gas exploration development and production company with offices in Calgary, Alberta and Islamabad, Pakistan and is active in the exploration and development of hydrocarbon reserves in Western Canada and internationally.

Shares Outstanding: 16,096,084