HOUSTON, Nov. 9, 2007 (PRIME NEWSWIRE) -- Index Oil and Gas, Inc. (OTCBB:IXOG) ("Index" or "the Company") today announced that CEO Lyndon West will address a group of leading private analysts associated with major New York investment institutions on Wednesday, November 14, 2007.
Financial Investment Analysts, Inc. is a private membership group of approximately 30 analysts from institutions ranging from the Carlin Financial Group, Brill Securities and Bishop Rosen & Co. to UBS Financial Services, Deutsche Banc Alex. Brown and Wachovia, to name but a few. The group meets monthly in New York City to network and share ideas and to learn about emerging companies in a wide range of industries.
Mr. West will present the story of Index's successful development from April 2006 to today, midway through the Company's current fiscal year which ends March 31, 2008. Index has a strong record of successful wells which increased its annual production by 136% and increased proven reserves by 93% in the fiscal year ended March 31, 2007. In FY 2008, the Company is focused on a portfolio of robust high-impact wells offering an estimated Net Resource Potential (NRI) of 5.7 million barrels of oil equivalent ("mmboe"). A public progress report on this year's operations was recently issued. Mr. West will discuss the factors that lead the Company to anticipate operating cash positive by the end of its FY 2008 and to become earnings positive by the end of FY 2009.
About Index Oil and Gas
Index Oil and Gas, Inc. is a dynamic gas-biased oil and gas exploration and production company, with onshore activities primarily in Texas, Louisiana, and Kansas and offices in Houston. The Company's goal is to generate increasing reserves and cash flow from a portfolio of moderate and higher risk potential prospects. After successfully focusing on lower risk prospects to build reserves and near term cashflow in Fiscal Year 2007 (ended March 31, 2007), Index has embarked upon a drilling program in Fiscal Year 2008 of a balanced, risk-managed portfolio of prospects designed to generate significantly higher reserves and production. The Company has an enviable drilling record and intends to grow its existing asset base and revenues through further investment in the U.S.
To find out more about Index Oil and Gas Inc. (OTCBB:IXOG), visit our website at http://www.indexoil.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 the Company believes 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.
Pursuant to a September 1, 2007 agreement, Consulting For Strategic Growth 1, Ltd. (``CFSG1'') provides the Company with consulting, business advisory, investor relations, public relations and corporate development service, for which CFSG1 receives cash and/or stock compensation.