February 28, 2007 - 3:15pm EST
Indigo-Energy Inc. Drills Additional Wells And
HUB Energy, LLC is Indigo’s Oil & Gas Operator
Henderson, NV. February 28, 2007 Indigo-Energy, Inc. (IDGG) announced today that the company has successfully drilled twenty-seven oil and gas wells in specific locations in the Appalachian Basin in Pennsylvania, Kentucky and West Virginia under participation agreements with drillers and operators proficient in the developed area.
Additional oil and gas leases have been successfully negotiated outside the original 420-acre tract in West Virginia where three oil and gas wells have been drilled. To date, Indigo now has fourteen wells drilled in Clearfield, Armstrong, Westmoreland and Indiana counties in Pennsylvania, eight oil and gas wells in Harrison and Monongalia counties in West Virginia and five oil and gas wells in Magoffin County, Kentucky. The working interest in the wells range from 60% to 87.5%. The subsequent events work detailed in the Company’s Form 10-QSB filed on February 28, 2007 discusses the certain economic arrangements with respect to each of the wells.
Additionally, an “Advisory Service Agreement” with HUB Energy, LLC (“HUB”) of Indiana, PA to provide turnkey services in connection with the Company’s expanded exploration and development of certain oil and gas prospects in Pennsylvania, West Virginia, Kentucky and Illinois is in place.
About HUB Energy, LLC
HUB Energy, LLC is an Indiana, PA based company that will provide exclusive oil and gas exploration advisory services on behalf of Indigo-Energy, Inc. President Mark Thompson, also President and owner of Mid-East Gas Company in Indiana, PA states, “HUB has entered into an agreement with Indigo-Energy to jointly develop oil and gas properties in a number of states where I have had various business partners and contacts in the oil and gas industry for the last thirty years.” HUB Energy, LLC will secure leases, acquisitions and drilling prospects in the oil and gas business in a number of states outside Indigo’s initial lease holdings in West Virginia.
About Indigo-Energy, Inc.
Indigo-Energy, Inc. is an independent Nevada energy company, engaged in the drilling, development, production and acquisition of certain oil and gas reserves located in the Upper Devonian sand and shell formations in Pennsylvania, West Virginia, Kentucky, and the New Albany Shale formation in Johnson County, Illinois. This involves drilling of developmental oil and gas wells at the different program sites on proven reserves, purchase of existing producing oil and gas wells and the purchase of existing oil and gas leasehold interests.
Safe Harbor: Statements contained in this press release that are not based upon current or historical fact are forward looking in nature. Such forward- looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties, and events that may be beyond the control of Indigo-Energy, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include but are not limited to the ability to successfully complete drill projects, adapt to changes in technology, and energy competition.
Contacts
Indigo-Energy, Inc.
Investor Relations:
Stan Teeple or David Larson at 702-990-3387
info@indigo-energy.com
