Independence Energy Retains Texas Oil and Gas Business Development Expert to Accelerate Coleman South Project
March 20 2013 - 7:00AM
Marketwired
Independence Energy Corp. (OTCBB: IDNG)
(OTCQB: IDNG) (the "Company" or "Independence Energy") is pleased
to announce that the Company has engaged RTD Energy, LLC ("RTD"), a
Dallas, Texas based oil and gas business development company. The
agreement calls for RTD to represent the Company on a non-exclusive
basis to potential joint venture partners and farm-in drilling
companies identified by RTD for the development of the 1,400 acre
Coleman South oil and gas exploration land package in Coleman
County, Texas.
Mr. Gregory C. Rotelli, CEO and President of Independence
Energy, stated, "I look forward to continuing to work with Steve
Fulton at RTD to fully develop our large and 100% owned Coleman
South land package. His considerable experience, success, and
industry contacts as an oil and gas land development deal maker
have already put us in contact with several potential partners that
have expressed an interest in participating in our plan to develop
several previously identified high priority drill targets. Based on
the previous positive geological assessment of the property and the
amount of drilling currently being conducted locally in Coleman
County, RTD anticipates that additional potential joint venture
partners will also be identified in the near-term."
The Coleman South oil and gas exploration project covers an area
of approximately 1,400 acres, four miles southwest of Novice,
Texas, a prolific oil and gas producing area. The region is best
known for containing numerous producing horizons that are
stratigraphically and structurally used as trapping mechanisms for
oil and gas deposits. Based on a previous geological review of the
Coleman South Leases, the Company believes many of these formations
remain under-exploited or untouched in key offset locations.
Several potential high-priority exploration drill targets (vertical
and horizontal) have previously been identified and will be
considered for immediate follow-up. Primary target formations
include, but are not limited to several prolific oil and gas
producing structures, such as the Ellenburger Dolomite (4,400
feet), the Gray Sandstone (3,800 feet), Gardner Sandstone (3,700
feet), and Jennings Sandstone (3,600 feet).
Further updates regarding the Company's near term exploration
and development strategy at the Coleman South project and other
Independence Energy business will be provided in the near
future.
About Independence Energy Corp.
Independence Energy Corp. is an oil and gas exploration and
development company focused on projects in the United States.
Independence Energy is seeking to further advance its existing
projects through development or offset drilling and to expand its
portfolio to include additional property interests in the United
States.
Disclaimer
This press release contains "forward-looking statements".
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
and specifically references to selecting an operator at Coleman
South over the next several days, planning to explore and develop
the Coleman South land package, and drill new wells on the
property. The words "plan", "forecast", "anticipates", "estimate",
"project", "intend", "expect", "should", "believe", and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements involve, and are subject to known
and unknown risks, uncertainties and other factors which could
cause the Company's actual results, performance (financial or
operating) or achievements to differ from the future results,
performance (financial or operating) or achievements expressed or
implied by such forward-looking statements. The risks,
uncertainties and other factors are more fully discussed in the
Company's filings with the U.S. Securities and Exchange Commission.
All forward-looking statements attributable to Independence Energy
Corp. herein are expressly qualified in their entirety by the
above-mentioned cautionary statement. Independence Energy Corp.
disclaims any obligation to update forward-looking statements
contained in this estimate, except as may be required by law.
For additional information, contact; Independence
Energy Corp. (800) 976-4490 info@independenceenergycorp.com
www.independenceenergycorp.com
RedHawk (CE) (USOTC:SNDD)
Historical Stock Chart
From Apr 2024 to May 2024
RedHawk (CE) (USOTC:SNDD)
Historical Stock Chart
From May 2023 to May 2024