Indigo-Energy, Inc. Foresees New Revenue from Kentucky Gas Production Program
HENDERSON, Nev.--(BUSINESS WIRE) Nov.8, 2007--Indigo-Energy, Inc. (OTCBB:IDGG)
is pleased to announce that the Company has drilled and performed an initial assessment of five natural gas wells on property in Magoffin County, Kentucky. The next stage of the project will be the completion of an onsite treatment facility to ensure the quality of any gas produced from such wells to ensure that such gas meets standards for production
Last year, Indigo-Energy drilled the five wells to a depth of approximately 3,000 feet with initial data indicating commercial grade production levels in the future for each of the sites. The Company is working with an independent well operation company to complete the treatment facility in order to remove sulfur from the natural gas as it is transported to the pipeline. Well site facilities and a central processing facility will both be available for the purification of the resource.
“We are very confident in the potential revenue from these wells and we are eager to get the treatment facility into operation and begin moving gas into the pipeline. By all accounts, these wells are expected to increase our revenue base, be a great part of our overall portfolio and help facilitate our future growth,” stated Steve Durdin, President of Indigo-Energy, Inc.
Indigo-Energy’s application was recently approved for the quotation of its common stock on the Over-the-Counter Bulletin Board. This was the first of several planned events designed to allow Indigo-Energy’s shareholders to have better access to the markets with the goal of increasing shareholder value.
About Indigo-Energy Inc.:
Indigo-Energy, Inc. is an independent Nevada based energy company, engaged in the drilling, development, production and acquisition of certain oil and gas prospects located in the Upper Devonian sand formations in Kentucky, Pennsylvania, and West Virginia. This involves drilling of developmental oil and gas wells at the different program sites. It also includes the purchase of producing oil and gas wells and 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.
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CONTACT:
Indigo-Energy, Inc., Henderson
www.indigo-energy.com
Investor Relations:
Bob Deakin, 1-866-THE APPL(E)
