Index to Bring Cason Well Onstream in October

Index Oil and Gas announced that tests for the George Cason Gas Unit 1 well (Cason) in the Fern Lake area of Nacogdoches County, Texas indicated a maximum flow rate of 1,168 thousand cubic feet of gas per day. Production flow is expected be in the pipeline grid by October 2007.

Index is a gas-biased oil and gas exploration and production company, with activities primarily in Texas, Louisiana, and Kansas. It has offices in Houston, Texas and Bath, England. Cason is part of the Index’s Fiscal Year 2008 portfolio released on June 11, 2007. Prospects in this portfolio indicate growth for the company as a result of increased reserves, production and revenue.

Lyndon West, CEO of Index, stated, "We are pleased with the results of the test and the very efficient and timely drilling and testing operation by the operator. We look forward to producing first gas from this well and hope to participate in further wells in the Fern Lake area."

Index has a 24% working interest before payout and 18% working interest after payout. The Fern Lake Area of Mutual Interest, in which Cason was drilled, covers 908 gross and 538 net acres.