Index Oil and Gas, Inc. Announces Start of Drilling On Armour-Runnells #1 in the Alligator Bayou Prospect
HOUSTON, May 1, 2008 (PrimeNewswire via COMTEX) -- Index Oil and Gas, Inc. (OTCBB:IXOG) ("Index" or "the Company") today announced that drilling has begun on the Armour-Runnells #1 well in the Alligator Bayou Prospect located in Matagorda County, Texas. The spud took place on April 27, 2008.
O/S As of February 14, 2008, there were outstanding 65,803,698 shares of Common Stock.
Index Oil & Gas, Inc.
29, Jalan USJ 10-1F
Fax: 011 603 8023 06
Dutton report http://www.knobias.com/research.pdf?id=13105
Index Oil & Gas has an enviable drilling record and an excellent upside potential. The management team is particularly strong, drawing on worldwide and local area experience. Index intends to grow its existing asset base and revenues through further selective investment in the low political risk environment of the U.S., spreading risk across its portfolio to develop a mix of low risk and higher potential assets and prospects, appropriate to resources.
Index sees this portfolio approach as essential to the relatively safe creation of value and to retain a high potential upside for Investor, without exposing the Company and its stockholders to critical events.
As a result of a corporate transaction in January 2006, Index obtained equity funding of $5.12m for the next stage of its development together with the exploration and producing assets of Index Ltd.
In September and October 2006, by way of a Private Placement, Index raised $10.9 m gross to further expand its operations into higher upside opportunities.
Daniel ("Dan") L Murphy
Dan has over 30 years of experience in energy sector industries.
Lyndon has 25 years experience in the Oil and Gas Industry.
Andrew ("Andy") Boetius
Andy, a qualified Chartered Management Accountant, has spent the majority of his career in the exploration, production and energy sectors. He held a number of roles during a 14 year career with Amerada Hess Corporation, both in its upstream and downstream businesses.
John G Williams
Executive Vice President, Exploration and Production
John has 31 years of global oil and gas exploration and business development in various technical and managerial roles with Exxon, Conoco and ConocoPhillips.
John is a member of the American Association of Petroleum Geologists, the Society of Exploration Geophysicists, the Society of Petroleum Engineers and is certified by the Texas Board of Professional Geoscientists and the American Association of Petroleum Geologists.
David ("Dave") Jenkins
Non Executive Technical Director
Dave has 31 years experience in global hydrocarbon exploration.
Michael ("Mike") Scrutton
Mike is a geologist by training and has 33 years experience in the upstream petroleum business.
Index currently operates in North America. It has activities in Kansas, Texas, Louisiana, Mississippi and Alabama. Index has a gas biased strategy going forward. The U.S gas market appears to be firm, with generally strong prices and broadly spread demand sectors.
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Index Oil & Gas
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Tel: +1 713 715 9275
+1 713 683 0800
Fax: +1 713 956 8855
Index Oil & Gas Ltd
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Tel: +44 (0) 7866 604891
Fax: +44 (0) 1452 790137
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Stock Symbol: IXOG