January
05, 2006 03:00 PM US Eastern Timezone
Procare
America Inc. Reorganizes as Indigo-Energy Inc.
FAIRFAX,
Va.--(BUSINESS WIRE)--Jan. 5, 2006--Indigo Land & Development Inc.
/ soon to be Trading as Indigo-Energy, Inc. announced today that the
company has reorganized with Procare America, Inc. (OTC PK:PCAM), (Old
CUSIP 742678 10 5 / New CUSIP 455688 10 1) whereby the shareholders
of Indigo Land & Development Inc., acquired a controlling common
stock position in Procare in exchange for 100% of the Indigo Land &
Development Inc., common stock. Procare has changed its name to Indigo-Energy,
Inc. (Indigo), in which the sole purpose of the company is oil and gas
exploration and production on the property and in the vicinity of the
property. A new board of directors and management has been appointed.
The reorganized Indigo intends to bring the company's Securities Exchange
Commission (SEC) filings up to date as soon as possible. Submission
to NASDAQ for a new trading symbol is anticipated within the next several
days. There is no forward or reverse split of the outstanding common
stock as part of the reorganization.
About Indigo
Energy Inc.
Indigo Land
and Development, Inc. is a Virginia corporation that owns 420 acres
of land and minerals (excluding coal) in Greene County, Pennsylvania
and Monongalia County, West Virginia. The production of natural gas
and oil on the property is completely owned by the company with no percentage
royalties or overrides owed to any third party.
In-ground
reserves on the property have been well documented with four separate
commissioned studies from Yedlosky, Trude, Deal and Kesterson whom are
geologists and petroleum engineers. The reserves are available and easily
extracted with existing, state-of-the-art drilling and production techniques.
Additionally,
Indigo has entered into an evergreen operating agreement with Falcon
Holdings, LLC (Falcon), Mannington, WV for the purposes of providing
Indigo with a turnkey operating approach for the existing acreage and
for future exploration and production endeavors in the region. Falcon
and its owners and partners have been based in the area for decades
and have unique, favorable relationships with the local citizens, local
drilling resources and a strong working knowledge of the local regulations.
In addition, Falcon has demonstrated a proven track record of drilling
and production success.
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 Land & Development, 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:
James Holland, 866-281-2239
info@indigo-energy.com
