Dutton Associates Announces Investment Opinion: Index Oil and Gas Rating Speculative Buy in Initiating Coverage by Dutton Associ

  
    
  
  
    
      Dutton Associates initiates coverage of Index Oil and Gas (OTCBB:IXOG) 
      with a Speculative Buy rating and a $1.80 price target. The 28-page 
      report by Dutton senior analyst Richard Wolfe, CFA is available at www.jmdutton.com 
      as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and 
      other leading financial portals.
    
    
      Index Oil and Gas is a recently established oil and gas exploration and 
      production company with producing properties in Texas, Louisiana, and 
      Kansas. Index has branched out from an initial, successful purchase of 
      low-risk exploration projects in Kansas to a portfolio of 
      higher-potential Gulf Coast properties and is in the process of 
      investigating the purchase of acreage plays along the lines of recent 
      industry activity in unconventional crude oil and natural gas 
      exploitation. Dutton Associates estimates indicate substantially higher 
      oil and gas revenues during the Company’s 
      fiscal year ending March 31, 2008, followed by substantial growth of 
      discretionary cash flow in subsequent years. The Company has a 
      successful drilling track record and is guided by a carefully crafted 
      operational strategy with a sophisticated risk-management system. Its 
      management team and board of directors has operated at the top levels of 
      the exploration operations of major international oil companies and can 
      lay claim to a record of success in getting new-business startups off 
      the ground. Our rating is based on our confidence in the Company’s 
      business plan and in the very experienced and highly accomplished 
      management team, coupled with our expectation of strong cash-flow growth 
      and our industry outlook calling for favorable crude-oil and natural-gas 
      product markets. We have set a 12-month price target of $1.80 per share.
    
    
      About Dutton Associates
    
    
      Dutton Associates is one of the largest independent investment research 
      firms in the U.S. Its 31 senior analysts are primarily CFAs, and have 
      expertise in many industries. Dutton Associates provides continuing 
      analyst coverage of over 145 enrolled companies, and its research, 
      estimates, and ratings are carried in all the major databases serving 
      institutions and online investors.
    
    
      The cost of enrollment in our one-year continuing research program is US 
      $35,000 prepaid for 4 Research Reports, typically published quarterly, 
      and requisite Research Notes. Dutton Associates received $35,000 from 
      the Company for 4 Research Reports with coverage commencing on 
      4/09/2007. We do not accept payment of our fees in company stock. Our 
      principals and analysts are prohibited from owning or trading in 
      securities of covered companies. The views expressed in this research 
      report accurately reflect the analyst's personal views about the subject 
      securities or issuer. Neither the analyst's compensation nor the 
      compensation received by us is in any way related to the specific 
      ratings or views contained in this research report or note. Please read 
      full disclosures and analyst background at www.jmdutton.com 
      before investing.