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<P>&nbsp;</P>


<B><FONT SIZE=4><P ALIGN="CENTER">UNITED STATES</P>


<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>


</B></FONT><FONT SIZE=2><P ALIGN="CENTER">Washington, D.C. 20549</P>


</FONT><P ALIGN="CENTER"></P>


<P ALIGN="CENTER">&nbsp;</P>


<B><FONT SIZE=5><P ALIGN="CENTER">FORM 8-K</P>


</B></FONT><P ALIGN="CENTER"></P>


<P ALIGN="CENTER">&nbsp;</P>


<FONT SIZE=2><P ALIGN="CENTER">CURRENT REPORT</P>


<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>


</FONT><P ALIGN="CENTER"></P>


<P ALIGN="CENTER">&nbsp;</P>


<P ALIGN="CENTER">&nbsp;</P>


<FONT SIZE=2><P ALIGN="CENTER">Date of Report (Date of earliest event reported):  March 29, 2006</P>


</FONT><P ALIGN="CENTER"></P>


<B><FONT SIZE=6><P ALIGN="CENTER">IGNIS PETROLEUM GROUP, INC.</P>


</B></FONT><FONT SIZE=2><P ALIGN="CENTER">(Exact name of registrant in its charter)</P>


</FONT>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=624>


<TR><TD WIDTH="33%" VALIGN="TOP">


<B><FONT SIZE=2><P ALIGN="CENTER">NEVADA</B></FONT></TD>


<TD WIDTH="33%" VALIGN="TOP">


<B><FONT SIZE=2><P ALIGN="CENTER">000-50929</B></FONT></TD>


<TD WIDTH="33%" VALIGN="TOP">


<B><FONT SIZE=2><P ALIGN="CENTER">16-1728419</B></FONT></TD>


</TR>


<TR><TD WIDTH="33%" VALIGN="TOP">


<FONT SIZE=2><P ALIGN="CENTER">(State or other jurisdiction of</P>


<P ALIGN="CENTER">incorporation or organization)</FONT></TD>


<TD WIDTH="33%" VALIGN="TOP">


<FONT SIZE=2><P ALIGN="CENTER">(Commission File Number)</FONT></TD>


<TD WIDTH="33%" VALIGN="TOP">


<FONT SIZE=2><P ALIGN="CENTER">(IRS Employer Identification No.)</FONT></TD>


</TR>


</TABLE>





<P ALIGN="CENTER"></P>


<B><FONT SIZE=2><P ALIGN="CENTER">100 Crescent Court, 7</FONT><SUP><FONT SIZE=1>th</SUP></FONT><FONT SIZE=2> Floor</P>


<P ALIGN="CENTER">Dallas, Texas 75201</P>


</B><P ALIGN="CENTER">(Address of principal executive offices)</P>


</FONT><P>&nbsp;</P>


<B><FONT SIZE=2><P ALIGN="CENTER">(214) 459-8188</P>


</B><P ALIGN="CENTER">(Registrant's telephone number, including area code)</P>


</FONT><P ALIGN="CENTER"></P>


<B><FONT SIZE=2><P ALIGN="CENTER">N/A</P>


</B><P ALIGN="CENTER">(Former name or former address, if changed since last report) </P>


<P ALIGN="CENTER">  </P>


<P ALIGN="JUSTIFY">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>


<P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>


<P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)</P>


<P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))</P>


<P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c)) </P>


</FONT><P ALIGN="CENTER">  </P>


<P ALIGN="CENTER"></P>


<P>&nbsp;</P>


<P>&nbsp;</P>


<P>&nbsp;</P>


<P ALIGN="CENTER">&nbsp;</P>


<P ALIGN="CENTER">&nbsp;</P>


<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=624>


<TR><TD WIDTH="15%" VALIGN="TOP">


<FONT SIZE=2><P>ITEM 1.01</FONT></TD>


<TD WIDTH="85%" VALIGN="TOP">


<U><FONT SIZE=2><P>Entry into a Material Definitive Agreement.</U></FONT></TD>


</TR>


</TABLE>


</CENTER></P>








<FONT SIZE=2><P>On March 29, 2006, Ignis Petroleum Corporation, our wholly owned subsidiary, entered into a letter agreement with Newton Properties, Inc. related to our interest in the North Wright Field Prospect.  The agreement extended the Newton's deadline for us to spud the first well on the North Wright Field Prospect from March 31, 2006 until December 31, 2006.  </P>





<P>On April 13, 2006, Ignis Petroleum Corporation entered into a letter agreement with Argyle Energy, Inc. and Bayou City Exploration, Inc. related to our interest in the North Wright Field Prospect.  In exchange for our agreement to fund the payment of $165,262 in delay rentals for leases related to the North Wright Field Prospect, Argyle and Bayou City agreed to extend their deadline for us to spud the first well on the North Wright Field Prospect from March 31, 2006 until December 31, 2006.  </P>





<P>The foregoing is a summary of the terms of the agreements described above and does not purport to be complete and is qualified in its entirety by reference to the full text of the agreements, copies of which are attached to this report as exhibits and are incorporated herein by reference.</P>





<P>&nbsp;</P></FONT>


<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=624>


<TR><TD WIDTH="15%" VALIGN="TOP">


<FONT SIZE=2><P>ITEM 9.01</FONT></TD>


<TD WIDTH="85%" VALIGN="TOP">


<U><FONT SIZE=2><P>Financial Statements and Exhibits</U>.</FONT></TD>


</TR>


</TABLE>


</CENTER></P>








<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=624>


<TR><TD WIDTH="8%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="8%" VALIGN="TOP">


<FONT SIZE=2><P>(c)</FONT></TD>


<TD WIDTH="84%" VALIGN="TOP" COLSPAN=2>


<FONT SIZE=2><P>Exhibits.</FONT></TD>


</TR>


<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>


<TD WIDTH="16%" VALIGN="TOP" COLSPAN=2>


<B><FONT SIZE=2><P>Exhibit</P>


<P>Number</B></FONT></TD>


<TD WIDTH="76%" VALIGN="TOP">


<B><FONT SIZE=2><P>Description</B></FONT></TD>


</TR>


<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>


<TD WIDTH="16%" VALIGN="TOP" COLSPAN=2>


<FONT SIZE=2><P>10.1</FONT></TD>


<TD WIDTH="76%" VALIGN="TOP">


<FONT SIZE=2><P>Letter Agreement, dated March 29, 2006, by and between Ignis Petroleum Corporation and Newton Properties, Inc. </FONT></TD>


</TR>


<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>


<TD WIDTH="16%" VALIGN="TOP" COLSPAN=2>


<FONT SIZE=2><P>10.2</FONT></TD>


<TD WIDTH="76%" VALIGN="TOP">


<FONT SIZE=2><P>Letter Agreement, dated April 13, 2006, by and among Ignis Petroleum Corporation, Argyle Energy, Inc. and Bayou City Exploration, Inc.</FONT></TD>


</TR>


</TABLE>


</CENTER></P>





<P ALIGN="CENTER"><BR>


</P>


<FONT SIZE=2><P ALIGN="CENTER">SIGNATURE</P>


</FONT>


<FONT SIZE=2><P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>


</FONT>


<P>&nbsp;</P>


<TABLE BORDER CELLSPACING=4 BORDERCOLOR="#ffffff" WIDTH=624>


<TR><TD WIDTH="50%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="3%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="37%" VALIGN="TOP">


<FONT SIZE=2><P>IGNIS PETROLEUM GROUP, INC.</FONT></TD>


<TD WIDTH="10%" VALIGN="MIDDLE">


<P>&nbsp;</TD>


</TR>


<TR><TD WIDTH="50%" VALIGN="TOP">


<FONT SIZE=2><P>Date: April 19, 2006</FONT></TD>


<TD WIDTH="3%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="37%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="10%" VALIGN="MIDDLE">


<P>&nbsp;</TD>


</TR>


<TR><TD WIDTH="50%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="3%" VALIGN="TOP">


<FONT SIZE=2><P>By:</FONT></TD>


<TD WIDTH="37%" VALIGN="TOP">&nbsp;</TD>


<TD WIDTH="10%" VALIGN="MIDDLE">


<P>&nbsp;</TD>


</TR>


<TR><TD WIDTH="50%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="3%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="37%" VALIGN="TOP">


<FONT SIZE=2><P>Michael P. Piazza</FONT></TD>


<TD WIDTH="10%" VALIGN="MIDDLE">


<P>&nbsp;</TD>


</TR>


<TR><TD WIDTH="50%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="3%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="37%" VALIGN="TOP">


<FONT SIZE=2><P>President and Chief Executive Officer</FONT></TD>


<TD WIDTH="10%" VALIGN="MIDDLE">


<P>&nbsp;</TD>


</TR>


</TABLE>





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[{"type": "8-K", "sequence": "1", "filename": "rrd114730.htm", "secsgml_size_bytes": 8093}]
{"company-data": {"conformed-name": "Ignis Petroleum Group, Inc.", "cik": "0001296524", "assigned-sic": "1000", "irs-number": "161728419", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50929", "film-number": "06767931"}, "business-address": {"street1": "100 CRESCENT COURT, 7TH FLOOR", "city": "DALLAS", "state": "TX", "zip": "75201", "phone": "214 459-8188"}, "mail-address": {"street1": "100 CRESCENT COURT, 7TH FLOOR", "city": "DALLAS", "state": "TX", "zip": "75201"}, "former-company": {"former-conformed-name": "Sheer Ventures Inc.", "date-changed": "20040707"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):  March 29, 2006
IGNIS PETROLEUM GROUP, INC.
(Exact name of registrant in its charter)
NEVADA
000-50929
16-1728419
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(IRS Employer Identification No.)
100 Crescent Court, 7
th
Floor
Dallas, Texas 75201
(Address of principal executive offices)
(214) 459-8188
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)
[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))
[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))
ITEM 1.01
Entry into a Material Definitive Agreement.
On March 29, 2006, Ignis Petroleum Corporation, our wholly owned subsidiary, entered into a letter agreement with Newton Properties, Inc. related to our interest in the North Wright Field Prospect.  The agreement extended the Newton's deadline for us to spud the first well on the North Wright Field Prospect from March 31, 2006 until December 31, 2006.
On April 13, 2006, Ignis Petroleum Corporation entered into a letter agreement with Argyle Energy, Inc. and Bayou City Exploration, Inc. related to our interest in the North Wright Field Prospect.  In exchange for our agreement to fund the payment of $165,262 in delay rentals for leases related to the North Wright Field Prospect, Argyle and Bayou City agreed to extend their deadline for us to spud the first well on the North Wright Field Prospect from March 31, 2006 until December 31, 2006.
The foregoing is a summary of the terms of the agreements described above and does not purport to be complete and is qualified in its entirety by reference to the full text of the agreements, copies of which are attached to this report as exhibits and are incorporated herein by reference.
ITEM 9.01
Financial Statements and Exhibits
.
(c)
Exhibits.
Exhibit
Number
Description
10.1
Letter Agreement, dated March 29, 2006, by and between Ignis Petroleum Corporation and Newton Properties, Inc.
10.2
Letter Agreement, dated April 13, 2006, by and among Ignis Petroleum Corporation, Argyle Energy, Inc. and Bayou City Exploration, Inc.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
IGNIS PETROLEUM GROUP, INC.
Date: April 19, 2006
By:
Michael P. Piazza
President and Chief Executive Officer