SOURCE: Independence Energy Corp.
SEAL BEACH, CA--(Marketwire - Mar 8, 2013) - Independence Energy Corp. (OTCBB: IDNG) (OTCQB: IDNG) (the "Company" or "Independence Energy") is pleased to announce that the Company has engaged Mr. Richard F. Porterfield as Senior Geological Consultant for the Coleman South Leases project.
"We are extremely pleased to have Richard Porterfield join our exploration and development team. His extensive domestic oil and gas exploration and development experience will be a huge benefit to our efforts going forward," stated Gregory C. Rotelli, CEO and President of Independence Energy. "Richard has already begun work to complete an updated geological report regarding the entire 1,400 acre land package at Coleman South that will help us choose our first drill targets. Later next week, following the completion of the report, the Company will be able to finalize its Phase-1 exploration and development plans."
Richard F. Porterfield has worked in various capacities throughout his 36 year career in the oil & gas industry. He is currently an independent oil & gas exploration and development consultant with interests in Oklahoma and Texas. From 1973 to 1991, Richard owned and operated two independent geological services companies. From early 1991, Porterfield worked as a Staff Geologist with OEXCO, Inc., an Oklahoma based oil and gas exploration company, where he was mainly focused on reviewing seismic prospects and outside generated deals for development. In 1997, Richard assumed the duties of Senior Geologist for Oak Hills Energy in Ada, Oklahoma, in charge of all exploration and developmental drilling. In 1999, in a senior consulting staff position with Young Resources, Inc. and Morris E. Stewart Oil Company, he evaluated seismic and subsurface data as Chief Exploration & Developmental Geologist while generating numerous moderate to deep successful oil & gas prospects primarily in the Garvin County area. Following a company merger, several productive wells were drilled. During this period, as an outside Consultant Geologist, he also generated a productive well package utilizing a mix of seismic and shallow subsurface mapping in the North Nocona Oil Field, Nocona, Texas, for the Braden Companies in Edmond, Oklahoma. From March 2005 to December 2008, as a Consultant Geologist, primarily for Bentrock Oil Company, Oklahoma City, Oklahoma, he mapped many moderate to very successful oil & gas properties located in the Garvin County, Oklahoma region.
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.
This press release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, and specifically references to planning to explore and develop the Coleman South land package and drill new wells on the property. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Independence Energy Corp. herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Independence Energy Corp. disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.