SOURCE: Independence Energy Corp.

June 05, 2012 06:00 ET

Independence Energy Corp. Evaluating Potential Joint Development Exploration Projects

SEAL BEACH, CA--(Marketwire - Jun 5, 2012) - Independence Energy Corp. (OTCBB: IDNG) (the "Company" or "Independence Energy") is pleased to announce that the Company is currently evaluating several new joint development exploration projects for potential participation. The potential new joint development exploration projects, located in Oklahoma, Texas, and Ohio, each include relatively large land positions with significant drilling and development strategies outlined.

"The continued growth and success of our company will depend greatly on our ability to source and acquire new high-quality exploration and development projects with significant drilling upside and manageable risk profiles," stated Mr. Gregory C. Rotelli, CEO and President of Independence Energy. "Each of these larger scale joint development projects has the potential be an excellent fit to complement our current portfolio and could possibly provide the Company with dozens of near-term blue sky drilling opportunities. We hope to complete one or more of these potential transactions over the next several weeks."

The Company's participation in the potential joint development projects remains subject to, among other things, the completion of satisfactory due diligence by all parties and the successful conclusion of negotiations. There can be no assurance that any transaction will be completed.

Further updates regarding the potential acquisitions and other Independence Energy business will be made as additional information becomes available.

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.

Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the the Company entering into joint development exploration projects as well as the eventual operations on such projects, if entered into. 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.

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