News Releases

September 10, 2008

Shares Outstanding:  13,928,084

TSX: “ISR”                                                                                            

INTERNATIONAL SOVEREIGN ENERGY CORP UPDATE ON BANKING FACILITIES

Calgary, Alberta- September 10, 2008 - International Sovereign Energy Corp. (the "Company") (TSX Exchange: "ISR") announced today that on September 4, 2008, The Bank of Nova Scotia, (the "Bank") advised the Company that the credit facilities are being extended to September 30, 2008, and further extension will be considered pending review of a full business plan based on Management's review of operation both domestically and internationally and management's strategic plans to develop and grow the Company. The facility has been reduced from $6 million to $4 million.

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.

For further information, please contact:

Eugene Hretzay
President and Chief Executive Officer
Tel:(416) 508-3472
ehretzay@isove.com

Or visit our website at www.isove.com

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain information provided in this press release contains forward-looking statements that by their nature are subject to numerous risks and uncertainties and readers are cautioned that actual results may vary considerably from those forecasted.

Forward-looking statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of these events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Additional information on the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forwardlooking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.