IDNG NEWS Mr. Gregory C. Rotelli, CEO and President of

New Post Public Reply Private Reply Replies (0) Message Board

Mar 7, 2013 at 8:53 AM

IDNG NEWS Mr. Gregory C. Rotelli, CEO and President of Independence Energy stated, "We have had our eyes set on the Coleman South Leases land package for quite a while now, first as a minority exploration and development partner and now as the 100% sole owner. This was an opportunity that we couldn't pass up, not only because we believe the project has enormous upside, but also because we were able to negotiate a great deal with the previous holders to acquire the entire land package for no cash and without any dilution of our stock. We have already started to actively interview potential operators and going forward, we envision quickly beginning an exploration and development strategy at Coleman South that could potentially lead to drilling numerous new wells on the property."

The new Coleman South Lease 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, the Ellenburger Dolomite (4,400 feet), the Gray Sandstone (3,800 feet), Gardner Sandstone (3,700 feet), and Jennings Sandstone (3,600 feet).

The Ellenburger Dolomite was formed in Ordovician age, which was later eroded resulting in several highly structured trapping mechanisms. Ellenburger wells are known for their high initial rate of production and potential quick payout. Very few wells have been drilled deep enough to penetrate the Ellenburger in this area. One previously proposed location is offsetting two historic Ellenburger producers that had difficulties upon completion. The Hrubetz Ellenburger field has produced over 1.4 million barrels of oil and 2,400,000 mcf of gas.

The Gray Sandstone is trending north-south across most of the Coleman South Lease. One historic well in section 10 produced 105,542 barrels of oil and 311,832 mcf of gas. This well is thought to have an ideal offset location to the north. Most Gray Sand wells are known to produce above 50,000 barrels of oil equivalent. The Templeton Field is located two miles to the east in sections 1, 2, 39, and 40. Most of the production from the Templeton Field has come from the Gray formation (along with the Gardner and Jennings). This field has produced 1,567,678 barrels of oil and 4,148,320 mcf of gas.

The Gardner Sandstone is the middle sand in the Strawn Series. One of the more famous Gardner fields is the Novice Field, located just two miles to the north. The Novice Field made 3,313,211 barrels of oil and 3,764,370 mcf of gas. Two and a half miles northeast is the Rough Creek Ranch Field which has made 131,639 barrels of oil and 1,266,103 mcf of gas from the Gardner and is still productive.

The Whitley Field is also located on our acreage block. It has produced 3,481,290 barrels of oil and 1,012,697 mcf of gas from mostly the Jennings Sandstone. It has several potential offset locations remaining. The Jones-Hill Field located one mile east, in section 16, has produced 200,657 barrels of oil and 11,051 mcf of gas to date from four Jennings wells. The CJC Field located in sections 5, 118, and 119 has produced 874,678 barrels of oil and 1,581,839 mcf of gas from 19 Jennings wells.

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.

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Cala Launches Game-Changer Wearable for Tremor Relief

Breaking New Ground in Neuromodulation Medical tech's on a roll, and Cala Health just hopped on the fast track with their latest launch—the Cala kIQ Plus System. This bad boy is aiming to offer relief for those grappling with hand tremors, thanks to its FDA clearance and a host of new features. It's the first of its kind, combining multiple therapy modes with an...

JiMMYBAR! Expands Creatine Market with Target Launch

JiMMYBAR! Breaks New Ground in Supplements You ever notice how some companies just know how to shake things up? Take JiMMYBAR!, for instance. The moment I read they’re making moves to get their Creatine + Protein bars into Target stores nationwide, starting October 4, I thought, “That’s one way to drag creatine out from the dusty tub and onto the shelves of...

Navigating Holiday Sweets: Healthy Balancing Acts

In the middle of the sweet madness that is the holiday season, Crispy Green and Dr. Nicole Avena are playing guide to families drowning in sugar. This isn't just a once-a-year Halloween headache; we're starting that sugar spiral early and letting it ride until the New Year approaches. It's an all-hands-on-deck situation if families want to dodge that sugar overload. Why...

Bob Evans' Protein Mac & Cheese: Practical Power Play

Has anyone else noticed just how fast the world spins when it comes to consumer trends these days? Bob Evans is hopping right on the protein bandwagon with its latest launch, a microwave-ready Protein Macaroni & Cheese that packs 18 grams of protein per serving. You gotta hand it to them for seizing opportunity when they see it. This one's not just about tossing a new...

Community Banks Missing $106B Lending Opportunity?

A Missed Opportunity for Community Banks It's a classic tale: community banks sleepwalking while big players snatch up low-hanging fruit right in their own backyards. According to the latest report by Cornerstone Advisors, commissioned by Teslar Software, these banks are essentially leaving $106 billion on the table when it comes to consumer lending. That's not just chump...

IWP and VYRE Unveil 'The Plug' for VBNGtv Content

Bringing Capital and Content Under One Roof There's something in the air as Itibari-Waynne & Partners (IWP) team up with the VYRE Network to crank out a fresh slate of content for VYRE Business News Global (VBNGtv). This partnership ain't just another splash in the buzzy world of digital media; it's like merging Wall Street with Hollywood. IWP, prepping to go full...

Cure Blindness Project's 770K Screenings for World Sight Day

Visionary Steps Toward a Brighter Future No two words could describe the task that Cure Blindness Project is tackling this year: vision and action. Marking World Sight Day on October 8, they plan to usher in 770,000 eye screenings across Asia, Africa, and the Caribbean. These initiatives aren't just numbers—they're a colossal step toward lifting the veil of avoidable...

Pushing for National Liver Cancer Awareness in 2026

The Urgency of Liver Cancer Awareness Death doesn’t wait, does it? When liver cancer is the villain in question, every moment becomes precious because this beast doesn’t roar until it’s too late. Here we are in 2026, staring at nearly 31,000 annual deaths in the U.S. alone. But hope flickers with a new congressional resolution aiming to slap a bright spotlight on...

Purina Institute Highlights Nutritional Science at WSAVA 2026

A Global Stage for Pet Nutrition Science The folks over at the Purina Institute are back in the spotlight as they gear up to throw their weight behind the 51st World Small Animal Veterinary Association (WSAVA) Congress in Warsaw, Poland. Set for October 13-15, 2026, this isn’t just another event—they're bringing some serious clout with their 'Food for Thought'...

TA Services Strengthens U.S.-Mexico Freight Operations

TA Services Moves Boldly Across Borders If ever there was a time to play the logistics chessboard like a champ, it's now, and TA Services just slammed the board with a solid move. They've grabbed Carmen Pacheco Transportation and Interload Forwarding, two family-run operations with some real muscle in North American logistics. This isn't a small-time maneuver; they've...