Indocan Resources Negotiating Oil & Gas Properties

SAN ANTONIO, Texas, Aug. 29  /PRNewswire-FirstCall/ -- The Board of Directors of Indocan Resources Inc. (OTC:IDCN) reports today that the Company is in advanced negotiations to acquire a substantial interest in oil and gas properties with two different companies.

The Oil and Gas Lease Sales Purchase Contract with an Ohio-based operation involves the purchase of up to fifty percent interest in multi-well sites that plan to rework and re-open existing wells. The other company is Texas based with multiple properties. We have identified one large prospect that has 320 lease acres and plans a 7,000 foot initiative in a field estimated to hold eight million barrels of oil and over 7 billion cubic feet of natural gas.

Once the agreements are executed a formal announcements will be made to the shareholders with additional details of drilling schedules and estimated reserves from geology reports.

  More can be learned at the Company website:  http://www.indocan.com/.

  We seek "Safe Harbor"

  Company Info:  604-929-7224, Jeffrey R Bruhjell, president

  CONTACT:  Investor Relations, Ken Ash, 252-728-2925.


DATASOURCE: Indocan Resources Inc.



CONTACT:  Jeffrey R Bruhjell, president of Indocan Resources,

[phone], or Investor Relations, Ken Ash, [phone], for Indocan

Resources



Web site:  http://www.indocan.com/

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