Index Appoints Bain as Sr. VP of E&P

Index Oil & Gas announced the appointment of Ronald A. Bain, Ph.D. as Senior Vice President, Exploration and Production. Dr. Bain, an experienced industry professional, will direct and develop the Company's expanding portfolio of projects.

Dr. Bain spent much of his career with the Anadarko Petroleum Corporation, a Fortune 500 company and one of the world's largest independent E&P businesses. From 1983 to his retirement from Anadarko in 2001, Dr. Bain held numerous management positions in technology and exploration, both in the domestic United States and finally as Manager of International Exploration.

Prior to joining Index, Dr. Bain was Corporate Exploration Advisor and Vice President of Geosciences of Houston-based Endeavour International Corporation, an independent energy company established to find and develop oil and gas reserves in the North Sea. Dr. Bain provided independent risk assessment of drilling opportunities and was responsible for characterizing exploration inventory for corporate portfolio management initiatives.

Dr. Bain said, "I'm delighted to join the entrepreneurial management of Index. The Company has built and managed a rapidly growing portfolio of projects with high impact potential. Recent projects position the Company for strong growth in the coming year, and I look forward to helping them maximize their strengths. I fully support their business strategy to maintain a risk-balanced portfolio."

Lyndon West, CEO of Index, said, "We are delighted to welcome Ron Bain to our management team. His broad-ranging experience in finding and evaluating domestic U.S. drilling opportunities is matched by his experience managing geoscience personnel groups and developing quality control for all technical analysis and risk assessment. Ron also fully understands the importance of communicating clearly and fully to investment analysts and building shareholder value. He will be an important asset as Index is poised for further growth in the next fiscal year.''