Index Oil and Gas (CE) (USOTC:IXOG)
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Index Oil and Gas, Inc. (OTCBB:IXOG) is pleased to
announce that it has completed its acquisition of 100% of the share
capital of Index Oil & Gas Ltd ("IOGL"), a private company registered
in the U.K. In addition, the Company has appointed Daniel Murphy as
Chairman of the Company and Lyndon West as Chief Executive of the
Company. Also appointed to the board are Andrew Boetius (Finance
Director), David Jenkins and Michael Scrutton.
"We are very pleased that the acquisition was completed in
accordance with the timeline indicated, said Daniel Murphy, Chairman
of Index. "The new structure of Index enables us to push forward our
plan to build a balanced portfolio of reserves and producing assets
principally in the U.S. The acceleration of growth in value expected
to come from the application of the resources available as a result of
the merger is in the direct interest of all stockholders."
Lyndon West, Chief Executive of Index, said; "In addition to our
current drilling program we have an active pipeline of carefully
assessed target opportunities worked up in conjunction with our
established partners. With the completion of the merger I am looking
forward to progressing the business of adding reserves and to increase
production."
Index is currently participating in a 2 well drilling program on
its Seward (Kansas) asset. Completion operations continue on the
company's Walker #1 well in Calcasieu Parish in Louisiana (operated by
Crawford Energy). Workover operations continue on its Seward (Kansas)
asset. Participation in additional wells in 2006 is under evaluation.
About Index
Index is a gas biased oil and gas exploration and production
company, with activities in Kansas, Texas and Louisiana. It has
offices in Bath, England and Houston, Texas. Index is focused on
efficiently building a broad portfolio of producing properties with
significant upside potential and intends to grow its existing asset
base and revenues through further investment in the U.S. The company
seeks to develop its activities in areas containing prolific petroleum
systems set in stable political and economic environments.
Forward-Looking Statement
The statements in the press release that relate to the company's
expectations with regard to the future impact the company's results
from acquisitions or actions in development are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The statements in this document may also contain
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Since the information may contain statements that involve
risk and uncertainties and are subject to change at any time, the
company's actual results may differ materially from expected results.