SOURCE: Independence Energy Corp.

April 26, 2012 08:48 ET

Independence Energy Corp. Reports on Progress at Quinlan Lease Property in Oklahoma

SEAL BEACH, CA--(Marketwire - Apr 26, 2012) - Independence Energy Corp. (OTCBB: IDNG) (the "Company" or "Independence Energy") is pleased to provide this update regarding recent progress made at the Quinlan Lease property in Oklahoma. The Company currently holds a 10% interest in the three productive Quinlan Lease oil wells.

"We continue to receive positive progress reports from the project operators regarding work currently being conducted at the Quinlan Lease property in Oklahoma. At this rate, we could see production and revenue from Quinlan increase sooner than we had anticipated," stated Mr. Gregory C. Rotelli, CEO and President of Independence Energy. "The latest report from the field indicated that the Quinlan #1 and #2 wells appear to be responding very positively to the recompletion and equipment upgrades conducted last month. Near-term production increases are expected as the improved well clears accumulated water from the reservoir. At Quinlan #3, production, storage, and water handling upgrades are in place and ready-to-go. The installation of a new transformer and electrical hookup by the local utility company is all that's left to accomplish prior to re-activating the well. We expect this work will be completed within the next few weeks."

The Quinlan Lease area is comprised of 3 productive oils wells and 1 salt water disposal well located on 120 acres in Pottawatomie County, Oklahoma. The historic oil field was originally discovered in 1937 and has produced in excess of 5.8 million barrels of oil from 19 wells from primarily the 1st. Wilcox Sand and the Hunton Limestone with secondary production from the Simpson Dolomite and the Viola Limestone formations.

Further updates regarding the Quinlan Lease property and other Independence Energy Corp. 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 expectations of increases in production from the Quinlan wells. The words "plan", "forecast", "anticipate", "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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