HOUSTON, June 27, 2007 (PRIME NEWSWIRE) -- Index Oil and Gas, Inc. (OTCBB:IXOG) ("Index" or the "Company") today announced that its Chairman Daniel L. Murphy will be featured in a exclusive live interview to be broadcast on Market News First (www.mn1.com) today, Wednesday, June 27, 2007, at 9:45 AM Central Standard Time.
Mr. Murphy will discuss Index's achievements in the fiscal year ended March 31, 2007, its enviable drilling record, and its balanced approach to greater growth going forward. Highlights will include the importance of the Company's successfully completed 13 wells during FY 2007, the financial foundation that they prepare for an expanding higher-impact portfolio in FY 2008, and the management expertise that has created a success rate of nearly 70%, an increase in annual production of 136%, and an increase in proved reserves of 93%. In addition, Mr. Murphy will discuss the Company's strategy of balancing lower risk production prospects against the substantially higher-impact opportunities of a strong exploration portfolio.
Mr. Murphy will also note that Index has now grown to a position where it is invited to participate in larger higher quality prospects and opportunities. As a result of its partnerships, funding and highly experienced management team, the Company is entering a new phase of development in which high-impact wells will comprise the major part of its FY 2008 portfolio. Moreover, management is targeting cash positive operations during FY 2008 and positive earnings in FY 2009.
About Index Oil and Gas, Inc.
Index is a gas-biased oil and gas exploration and production company, with activities in Kansas, Texas, Louisiana, Mississippi and Alabama. It has offices in Houston, Texas and Bath, England. Index is focused on efficiently building a broad portfolio of producing properties that it believes to have significant upside potential. The Company has an enviable drilling record and intends to grow its existing asset base and revenues through further investment in the U.S. Index seeks to develop its activities in areas containing prolific petroleum systems set in stable political and economic environments.
To find out more about Index Oil and Gas Inc. (OTCBB:IXOG), visit our website at www.indexoil.com.
About MN1.com
Market News First is an online, market news provider that brings investors current news on the market. Market News First is the only online, live IPTV web site that brings real market news to investors and features live interaction with companies from the Bulletin Board to NYSE.
Through daily, live interviews, we bring you up to date on all the established companies and inform the investors of the newest opportunities within the market. Market News First offers one-on-one interviews with the presidents and CFOs of companies to deliver answers to the questions that investors may ask and provides them insight into the companies' present condition and future plans. Stay up to date with MN1 NewsWire "News You Can Trust" at http://www.mn1.com.
The statements in the press release that relate to the company's expectations with regard to the future impact on 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. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.