TopPickStocks Featured Company!

Company: Index Oil & Gas

Symbol: IXOG.OB

10000 Memorial Drive
Suite 440
Houston, TX 77024
http://www.indexoil.com

RECENT COMPANY NEWS:

Index Oil and Gas, Inc. Announces Start of Drilling of Low-risk Production Well
in Cow Trap Prospect -
PrimeNewswire
Wed 8:22 am Oct. 24, 2007

Index Oil and Gas, Inc. Announces Outlar Well Success
PrimeNewswire
Tues 8:14 am Oct. 16, 2007

Business overview

Index Oil and Gas, Inc. is a gas biased oil and gas exploration and production company, with activities in the prolific petroleum systems of Kansas and onshore Gulf Coast, mainly in Texas and Louisiana. The Company has offices in Houston, Texas and Bath, England. Index is focused on efficiently building a broad portfolio of producing properties in conjunction with partners, carefully developed on a risk managed basis.

The company has an enviable drilling record and an excellent upside potential. The management team is particularly strong, drawing on worldwide and local area experience. Index intends to grow its existing asset base and revenues through further selective investment in the low political risk environment of the U.S., spreading risk across its portfolio to develop a mix of low risk and higher potential assets and prospects, appropriate to resources.

Index sees this portfolio approach as essential to the relatively safe creation of value and to retain a high potential upside for Investor, without exposing the Company and its stockholders to critical events.

As a result of a corporate transaction in January 2006, Index obtained equity funding of $5.12m for the next stage of its development together with the exploration and producing assets of Index Ltd.

In September and October 2006, by way of a Private Placement, Index raised $10.9 m gross to further expand its operations into higher upside opportunities.

management

Daniel ("Dan") L Murphy
Chairman

Dan has over 39 years of experience in energy sector industries. He has a held management and executive positions (career roles have included Chairman, CEO, President, Company and Non-executive Director and Project Director) in major international operating and contracting companies such as Shell Oil, IIAPCO, Occidental Petroleum, Intrepid Energy (North Sea) Ltd, Santa Fe International, Brown & Root, Kvaerner H&G, and Aker Maritime (UK) Ltd. Dan’s worldwide operational experience includes the Gulf of Mexico, South East Asia, Middle East, South America, North Africa, Poland and the North Sea. Up until the sale of Intrepid Energy (North Sea) Ltd. in 2004 Dan served as Engineering and Production Director for over seven years where he was instrumental in the development and delineation of the giant Buzzard field, a 500 million plus (recoverable) barrel oil find. Dan joined Index early 2005 and shortly afterward was appointed Chairman of Index Oil & Gas Ltd., which, as a result of a merger, became Index Oil and Gas Inc. in January 2006.

Lyndon West
Chief Executive

Lyndon has 25 years experience in the Oil and Gas Industry. Prior to the foundation of Index Lyndon was New Venture Services Practice Director and previously CEO of their International Division with IHS Energy where he was responsible for the development of business relations worldwide. Lyndon joined IHS Energy from IEDS Limited, a venture capital backed company he co-founded and managed from start-up through to the eventual acquisition by IHS Energy in 1998.
Lyndon is a founder director of Index Oil & Gas Ltd.

Andrew ("Andy") Boetius
Finance Director

Andy, a qualified Chartered Management Accountant, has spent the majority of his career in the exploration, production and energy sectors. He held a number of roles during a 14 year career with Amerada Hess Corporation, both in its upstream and downstream businesses. Latterly he held the role of Finance Director for its UK gas business, and was a member of the management team that successfully sold this division to the TXU group. Prior to joining Index he performed an interim management role for Fortum Group, successfully achieving the divestment of their UK energy marketing business. Andy is a founder director of Index Oil & Gas Ltd.

David ("Dave") Jenkins
Non Executive Technical Director

Dave has 31 years experience in global hydrocarbon exploration. He was instrumental in developing the integrated exploration process which resulted in Conoco being an industry leader in terms of commercial success rate and the number of significant discoveries of a size greater than 100 million boe. In addition Dave was responsible for the analysis and opinion that led to major discoveries in the Gulf of Paria and the Cuu Long basins in Vietnam. Projects for ConocoPhillips included the evaluation and ranking of over 50 basins and 100+ plays to develop a high-grade, focused exploration program. Dave is a founder director of Index Oil & Gas Ltd.

Michael ("Mike") Scrutton
Non-Executive Director
Mike is a geologist by training and has 33 years experience in the upstream petroleum business. He worked with the Robertson Research group of companies in a variety of technical, management, planning and business development roles. He operated as in exploration and development projects all over the world in Singapore, Indonesia and the USA before returning to group headquarters, where he served as director of the Robertson Research and several subsidiary companies. Mike joined Index Oil & Gas Ltd. in 2004.

discoveries & production

Index is in the early stages of its development. With an active exploration
programme production is expected to rise rapidly as new discoveries come on line.

Kansas Production

PRODUCING

Index has an interest two oil producing projects in Kansas, located in Stafford and
Barton Counties collectively termed the Kansas Operations. These are located on a geological structure known as the Central Kansas Uplift.

Since the early 1900s, several billion barrels of oil have been produced from the Central Kansas Uplift, primarily from carbonate reservoirs of the Pennsylvanian, Lansing Group through to the Arbuckle Group of the Cambro-Ordovician age.

Index has a 5% working interest in Stafford County and 3.25% in Barton.
There are currently a total of 22 wells in production.

Texas Discoveries and Production

Friedrich Gas Unit 1

PRODUCING

Friedrich Gas Unit 1 (formerly "Serrano)" in Victoria County found 13 feet of net gas pay in
the Frio formation at a drill depth of around 3,250 feet in April 2007.

Friedrich Gas Unit 1 began producing on 2 May 2007 at a rate of 250 thousand cubic feet
of gas per day (MCFGPD).

The shut-in tubing pressure (SITP) and flowing tubing pressure (FTP) were 1,250 pounds
per square inch (PSI) of dry gas. Over the first 14 days of production the average production
rate was 275 MCFGPD through a 6/64 inch choke.Index has a 37.5% working interest and a 28.125% net revenue interest Friedrich Gas Unit 1.

Schroeder Gas Unit 1

PRODUCING

Schroeder Gas Unit 1 (formerly "Habanero") in Goliad County found 10 feet of net gas pay in the Frio formation at a drill depth of around 3,018 feet in April 2007. A flow test of the gas pay yielded a calculated daily rate of 197 MCF of gas (33 BOE) through a 6/64 inch choke.

Schroeder Gas Unit 1 was connected to local pipeline infrastructure and began producing
during the fourth calendar quarter 2007.

Index has a 37.5% working interest and a 28.125% net revenue interest in Schroeder Gas Unit 1.

Ilse 1

Ilse 1, an exploration well in Wharton County has reached its planned total depth of
17,000 feet in March 2007 and has been logged.

A Middle Wilcox zone was perforated between 16,760 feet and 16,784 feet, hydraulically fractured, and flow tested on 5 June 2007. The test failed to produce gas in commercial quantities. Potential gas zones up-hole are currently being evaluated by the participants for further testing.

Vieman 1

PRODUCING

The Vieman 1 well was successfully drilled in February 2007 and encountered gas-bearing
pay zones ("pay") in its Frio reservoir targets.

The well, located in the Manor Lake area of Brazoria County, Texas, encountered multiple gas pays. The hydrocarbon-bearing interval currently being tested is between the measured depth of
11,180 feet and 11,320 feet and is estimated to contain a total of 16 feet of net pay. A test was conducted in the lower part of the interval that flowed at a rate of 2.83 million cubic feet of gas and 25 barrels of condensate per day, or roughly 497 barrels of oil equivalent on a 10/64 inch choke with a flow tubing pressure of 3,808 pounds per square inch.

A long-term test of the reservoir from the lower part of the currently producing interval in the Vieman 1 production well has produced gas since February 12, 2007 following the installation of a 6,300 feet flow line from the well to the local pipeline grid.

Additional potential gas pay above 11,000 feet has also been identified in the well and is expected to be tested at a later date.

Hawkins 1

The Hawkins 1 well in Matagorda County, Texas (formerly named Taffy 1)
encountered commercial gas in January 2007.

A completion test confirmed gas flow at a measured rate of 1.038 million cubic feet per day
through a choke of 9/64th inch with a flowing tubing pressure of 1,850 psi. In terms of barrels of oil, the above stated flow rate of gas can be converted to approximately 173 barrels of oil equivalent gross, using an industry standard conversion factor of 6.
Index has a 12.5% Working Interest in Hawkins 1.

Hawkins 1 is scheduled to begin production from a Miocene sandstone reservoir at approximately 5,000 feet deep into the local pipeline grid during the fourth calendar quarter 2007.

Louisiana Production

Walker 1

PRODUCING

The Walker 1 gas well in Calcasieu Parish, Louisiana, was put into production in
August 2006, producing gas and condensate from Hackberry Sands.
Index has a 12.5% net working interest in Walker 1.

exploration

Portfolio of Key High Impact Wells to be Drilled

Index is in a key phase of its development, with the High Impact wells, making up the major part of our portfolio, to be drilled in 2007/8.

“Potentially Company Transforming Prospects”

Index estimates the net resource potential of its portfolio of seven current prospects
to be 5.7 million barrels of oil equivalent.

To see our Investor presentations for more details on our current portfolio, click here.

Off Market Deals and our Portfolio Approach

A key strength of Index is its access to strong off-market deals, where participation in projects is offered to Index as a result of existing relationships with our operating partners. The company’s ability to screen these offered deals and select quality projects with the best chance adding meaningful reserves has resulted in a strong exploration portfolio.

This portfolio is constructed in line with the Company’s strategy to rapidly build a balanced portfolio of producing assets without exposing investors to single critical events. Hydrocarbon exploration always involves risk – a proportion of exploration wells will always prove non-commercial. Index manages this risk by prudently spreading the company’s interests across a balanced mix of lower risk and higher impact projects. Index believes that it can safely build excellent value for shareholders while maintaining a good upside. The portfolio, as constructed, is well able to withstand multiple failures and still be a success.

Index intends to participate in a portfolio of wells that are at various stages of readiness to be signed, drilled, are drilling or are already drilled, principally targeting gas prospects.

Prior to drilling, wells are secured by Exploration and / or Joint Operating Agreements with established onshore operators.

The portfolio prospects generally result from leads generated by a 3D seismic reprocessing company. This company uses existing seismic data and applies its own technology to generate new leads, which are then worked up into drillable prospects by our operating Partner.

investor information

Keep up to date with progress at Index

Index Oil & Gas Inc. is publicly traded on the OTC Bulletin Board with the symbol IXOG.
Visit our News page for latest public announcements.

Index is an early stage oil and gas exploration and production Company expanding its
activities in the U.S. market.

Originally incorporated in the U.K. in 2003, Index capitalizes on the experience and contacts of its founder directors and shareholders. Index is risk aware and invests in opportunities where the inherent exploration uncertainties can be managed with the intention of maximizing returns.

"Management believes that it can achieve the Company's objectives by utilizing a risk mitigated approach of investing in relatively low cost, low risk drilling opportunities in the US."

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Investor Presentations
Operating Update – September 2007
Click to view/download pdf

corporate information

Registered Office
711 S.Carson Street
Carson City, Nevada
89701

U.S. OFFICE
Index Oil & Gas
Suite 440
10,000 Memorial Drive
Houston Texas 77024Tel: +1 713 715 9275
+1 713 683 0800
Fax: +1 713 956 8855

UK OFFICE
Index Oil & Gas Ltd
Lawrence House
Lower Bristol Road, Bath
BA2 9ET
United Kingdom
Tel: +44 (0) 7866 604891
Fax: +44 (0) 1452 790137

Stock Exchange Listing

OTC Bulletin Board
Stock Symbol: IXOG

Transfer Agent
Continental Stock Transfer
17 Battery Place
New York, N. Y. 10004
United States of America
Tel: 1-212 509 4000
Fax: 1-212 509 5150
www.continentalstock.com