Indigo-Energy, Inc. Steps Up Production in West Virginia Gas Wells
HENDERSON, Nev.--(BUSINESS WIRE)--Indigo-Energy, Inc. (OTCBB:IDGG <http://finance.yahoo.com/q?s=IDGG.OB>) is pleased to announce that the Company has successfully completed the installation of a new compressor system in three natural gas wells in the Appalachian Basin in West Virginia. Post-installation measurements from the wells have shown improved flow initially and the Company anticipates improved revenue flow from these wells as a result.
Indigo-Energy is under a Service and Operating Agreement with TAPO Energy, LLC, a well operation company, and the wells were originally drilled in 2006 and 2007. TAPO Energy is one of Indigo-Energy’s four contracted drilling partners for natural gas wells in the Appalachian Basin. Indigo-Energy will sell its gas to existing natural gas pipelines that are well established in the marketplace, and the Company plans to aggressively pursue the acquisition of additional leases to accommodate its growth plans in the coming months.
“We have drilled five wells on that property in the past two years and this certainly is a successful step forward. These wells were producing revenue but this action should improve the productivity and the return on investment on a monthly basis,” stated Steve Durdin, President and CEO 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. Last week, the Company announced the appointment of Steve Durdin as its new CEO and President at the Annual Shareholder Meeting in Nevada.
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)
