Production / texas

Summary FY 2008 (ended March 31):

• Production rose 225% in FY 2008, rising to 28,626 boe (barrels of oil equivalent) compared to 8,075 boe for the Fiscal Year ended March 31, 2007.
• Drilled 6 out of 7 wells planned
• Currently 4 producing (Cason, Outlar, Ducroz and Shadyside)

West Wharton Prospect,

• Outlar well, High impact, Producing
• Index's Working Interest - 9.375%
• Index's Net Revenue Interest - 8.2%
• Potentially 4-5 additional wells
• First development well, Stewart #1, already drilling

Fern Lake Prospect, Nacogdoches County, TX

• Cason wells #1, 2, 3 - High impact, Producing
• IndexÕs Working Interest - 25%
• IndexÕs Net Revenue Interest - 18.36%

Cow Trap Prospect, Brazoria, TX

• Ducroz well, Low impact, Producing
• Index's Working Interest - 7.5%
• Index's Net Revenue Interest - 5.25%

Supple Jack Creek, Lavaca, TX

• HNH #1 well - Suspended

New Taiton Prospect, Wharton County, TX

• Ilse # - Suspended