CALGARY, ALBERTA--(Marketwire - Nov. 24, 2011) -


Brookfield Special Situations Partners Ltd. ("Brookfield") announced it has acquired an additional 2,123,360 common shares (the "Common Shares") of Insignia Energy Ltd. (the "Corporation") following the exercise of its additional subscription privilege granted to all holders of rights in connection with the Corporation's previously announced rights offering (the "Rights Offering"), which was completed by way of a prospectus dated October 13, 2011. These Common Shares are held through CDS and were credited to Brookfield's account on November 22, 2011 and thus were not known at the time of Brookfield's press release on November 21, 2011.

With the acquisition of Common Shares described above, Brookfield currently holds 38,828,538 Common Shares representing approximately 65.9% of the Common Shares which the Corporation has indicated are issued and outstanding. Of these Common Shares, 430,951 of the Common Shares are owned by an affiliate of Brookfield which makes investment and voting decisions independently of Brookfield.

Brookfield has acquired the Common Shares for investment purposes only. Brookfield intends to review on a continuous basis, various factors related to its investment, including but not limited to, the price and availability of the securities of the Corporation, subsequent developments affecting the Corporation or its business, and general market and economic conditions. Based upon these and other factors, Brookfield may decide to purchase additional securities of the Corporation or may decide in the future to sell all or part of its investment.

About Brookfield Special Situations Partners

Brookfield Special Situations Partners ("BSS") was established by Brookfield Asset Management Inc. ("Brookfield") to provide long-term capital and strategic assistance to mid-market companies based in North America. BSS seeks investment opportunities in industries in which Brookfield has significant operating expertise or a competitive advantage, including in the industrial products, building materials, metals and mining, homebuilding, forest products, oil and gas and manufacturing sectors. The BSS team operates out of offices in Toronto, New York, Calgary, Vancouver and Montreal.

NOTE: The statements in this press release concerning Brookfield's future intentions regarding Brookfield's investment in Insignia Energy Ltd.'s Common Shares may contain forward-looking information and other "forward looking statements", within the meaning of certain securities laws, including Section 27A of the Securities Act of 1933, as amended, Section 21 E of the Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward looking statements are identified by words such as, but not limited to, "could", "may", and "will". Readers are cautioned that actual results may vary from the forward-looking information contained herein. We may make such statements in this release, in other filings with Canadian regulators or the SEC or in other communications. The reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors.

Contact Information:

For additional information, or for a copy of
the early warning report filed in respect of
the above transaction, please contact:
Brookfield Special Situations Partners Ltd.: Jim Reid
(403) 770-7215

Brookfield Special Situations Partners Ltd.
Suite 1700, 335-8th Avenue SW
Calgary Alberta T2P 1C9