Index Oil & Gas Inc.

6 Aug 2009listing compliance notice▼ BadMajor

Index Oil & Gas Inc. deregistered its securities, ending its obligation to file reports with the SEC.

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29 Feb 2008capital raising announcement● NeutralMajor

On February 26, 2008 the company closed a private placement of 5,541,182 units at $0.50 each, raising about $2.77 million gross. Each unit has one share and a loyalty warrant for 0.50 share at $0.50, exercisable only from the second anniversary and only for shares the buyer still holds. ICP was again placement agent, paid a $276,840.13 commission and about $95,132 in legal fees; proceeds are for working capital and general corporate purposes. The new shares dilute existing holders, and the price of $0.50 per share compares with $1.00 per share in the 2006 units ($5,000 per 5,000 shares), a comparison derived from the filings.

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7 Dec 2006material agreement▲ GoodMajor

Through its subsidiary Index USA, the company signed exploration agreements with Crawford Energy, Inc. for four Texas wells: a 30% working interest in Taffy #3, 12.5% in Taffy #1 (an added 5%), 30% in Taffy #2 (an added 10%), all in Matagorda County, and 15% in West #1 in Lavaca County. The company pays its share of lease and seismic costs plus a larger share of drilling costs (40% for Taffy #3 and #2, 16.666% for Taffy #1, 20% for West #1), with caps if costs exceed 125% of budget. Press releases say the Taffy wells are expected to be drilled from Q4 2006 to Q1 2007 and West 1 is planned to spud in Q1 2007. These are the first specific wells under the 12-14 well drilling program mentioned in October, which the filing text does not link explicitly (inference).

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11 Oct 2006capital raising announcement▲ GoodMajor

The company closed a second round of the private placement that began on August 29, 2006: 693.54 units on October 4 (US$3,467,700) plus 80 units on October 5, for US$3,867,700 in this round and US$10,965,598 gross across both rounds. Each unit is 5,000 shares at $5,000. ICP again acted as placement agent, with a $386,770 commission and about $5,000 of other fees; proceeds are for working capital and general corporate purposes. The press release says the company has entered a 12-14 well drilling program. This continues the September 2006 raise, which it increases from about $7.1 million to about $11.0 million; the new shares dilute existing holders.

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11 Sept 2006capital raising announcement▲ GoodMajor

On August 29, 2006 the company closed a private placement selling 1,419.58 units at $5,000 each (5,000 shares per unit) for gross proceeds of $7,097,898. Proceeds are for working capital and general corporate purposes, after a $700,000 commission to placement agent International Capital Partners SA plus about $60,000 of other fees; the company must file a resale registration statement within 60 days or pay liquidated damages.

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8 May 2006material agreement● NeutralMajor

The company signed an agreement with ADC Petroleum, L.P. to join the reprocessing of up to 226 square miles of existing 3D seismic data in the Gulf Coast (Texas, Louisiana, Mississippi). It has the option, not the obligation, to take up to an 18% working interest in prospects from the first 105 square miles and up to 12.5% from a further 121 square miles, paying its share of costs plus a portion of ADC's share on prospects it joins.

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15 Mar 2006business combination● NeutralMajor

The company gave full details of the January 2006 purchase of Index UK: 22,615,552 shares and 1,092,676 warrants issued, Index UK's former directors taking over as management and board, and a stock option plan of up to 5,225,000 shares. The company's previous auditor, PKF, had not approved use of its report on Index UK's accounts, so unaudited 2004 financials are provided until a new auditor, Russell Bedford Stefanou Mirchandani, finishes its audit. The filing also records that the company began as Thai One On, a Malaysian restaurant business.

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27 Jan 2006capital raising announcement▲ GoodMajor

On January 20, 2006 the company completed the purchase of Index Oil and Gas Ltd. by issuing 22,615,552 common shares, which completes the December 2005 letter of intent. It also sold 8,533,333 shares at $0.60 each in a private placement, raising $5,120,000.

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23 Dec 2005material agreement● NeutralMajor

Index Oil and Gas announced it signed a letter of intent (not yet a completed deal) to buy 100% of Index Oil and Gas Ltd, a private UK-registered company with activities in Kansas, Texas and Louisiana. No price or terms are given in the filing.

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