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CybeRelease: (OTC: IXOG) Gets Speculative Buy Rating


( CybeRelease, August 6, 2007 ) - Lake Harmony, Pa. - Dutton Associates updates its coverage of Index Oil and Gas (OTC BB: IXOG) maintaining a Speculative Buy rating and a 12-month $1.80 price target. The 14-page report by Dutton senior analyst Richard R. Wolfe, CFA, is available at, and at First Call, Bloomberg, Reuters, Zacks, Knobias, and other leading financial portals.

Index Oil and Gas is a recently established oil and gas exploration and production company with producing properties in Texas, Louisiana, and Kansas. Dutton Associates estimates indicate substantially higher oil and gas revenues during the Companyís fiscal year ending March 31, 2008, followed by substantial growth of discretionary cash flow in subsequent years. The Company has a successful drilling track record and is guided by a carefully crafted operational strategy with a sophisticated risk-management system. Our rating is based on our confidence in the Companyís business plan and in the strength of the experienced management team, coupled with an expectation of strong cash-flow growth and an industry outlook calling for favorable crude oil and natural-gas product markets. We are maintaining the 12-month price target of $1.80 per share established in our initial report of April 9, 2007. As of March 31, 2007, estimated total proved oil and gas reserves were approximately 115,000 barrels of oil equivalent (MBOE), compared to approximately 59,500 barrels one year earlier, a 92.6% increase. The majority of the reserve growth came from the Companyís South Texas interests. Reserves consisted of approximately 24,000 barrels of oil and 541 million cubic feet (MMcf) of natural gas. Approximately 113,000 barrels (99%) of proved reserves were classified as proved developed and proved behind pipe.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in the Dutton Associates one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 4/09/2007. Dutton Associates does not accept payment of any of its fees in company stock. Its principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analystís personal views about the subject securities or issuer. Neither the analystís compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures, and analyst background at before investing.

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CybeRelease Gainers are Finish Line, Inc. (The) (Nasdaq: FINL), Apogee Enterprises, Inc. (Nasdaq: APOG), Stericycle, Inc. (Nasdaq: SRCL), Ligand Pharmaceuticals Incorporated (Nasdaq: LGND), LKQ Corporation (Nasdaq: LKQX), Comtech Group, Inc. (Nasdaq: COGO) and Innophos Holdings, Inc. (Nasdaq: IPHS).

CybeRelease Decliners are Emmis Communications Corporation (Nasdaq: EMMS), Limelight Networks, Inc. (Nasdaq: LLNW), Mesa Air Group, Inc. (Nasdaq: MESA), China Sunergy Co., Ltd. (Nasdaq: CSUN), Qiao Xing Universal Telephone, Inc. (Nasdaq: XING), RAM Holdings Ltd. (Nasdaq: RAMR) and Copano Energy, L.L.C. (Nasdaq: CPNO).

Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investorís reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A third party has hired and paid CybeRelease $500.00 for the publication of this report. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation and do no trading of any kind.


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