SOURCE: Independence Energy Corp.
SEAL BEACH, CA--(Marketwire - Mar 5, 2013) - Independence Energy Corp. (OTCBB: IDNG) (OTCQB: IDNG) (the "Company" or "Independence Energy") is pleased to announce that the Company is currently in the final stages of completing a large-scale land package acquisition in central Texas. The transaction, if completed as contemplated, would result in Independence Energy acquiring a 100% working interest in a prime oil and gas exploration and development acreage.
"This is a tremendous opportunity for us to acquire a 100% interest in a very large land package with reported production history right in the middle of a prolific oil producing area in Texas," stated Mr. Gregory C. Rotelli, CEO and President of Independence Energy. "We anticipate finalizing the transaction and transferring the titles to the leases over the next several days."
The completion of this proposed transaction remains subject to, among other things, the successful transfer of multiple oil and gas lease registrations and legal status reviews. There can be no assurance that any transaction will be completed.
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 acquire a 100% working interest in a large land position in Texas. 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.