OTC Bulletin Board S & P Company Insight for INDEX OIL & GAS INC
Profile
	Business Summary: Index Oil and Gas Inc. acquires, explores for, develops, produces and sells oil and natural gas in North America. It has interests in properties in Kansas, Louisiana and Texas.   Address   10000 Memorial Drive, Suite 440   Houston , TX 77024   Phone: 713-683-0800   Fax: 713-956-8855   Website: http://www.indexoil.com Auditor   RBSM LLP Transfer Agent   Continental Stock Transfer & Trust Co. Employees:  5 ShareHolders:  194 Founded:  2004 Domicile:  Nevada
Background
	Index Oil and Gas Inc. acquires, explores for, develops, produces and sells oil and natural gas in North America. It has interests in properties in Kansas, Louisiana and Texas. The company does not operate any of its oil and natural gas properties. Index sells its oil and natural gas production to domestic purchasers through agreements primarily negotiated by the operators of its oil and natural gas properties. Proven reserves as of Mar. 31, 2009, were 87.703 MBoe (thousand barrels of oil equivalent). Production for FY 09 (Mar.) was 47.8 MBoe. The company owns producing and non-producing oil and natural gas properties in Kansas, Louisiana and Texas. For FY 09, Index participated in 7.0 gross and 0.3588 net wells, for which principal drilling and, where applicable, completion operations were concluded in the year. Of these wells, 6.0 gross and 0.265 net wells became productive. As of Mar. 31, 2009, Index owned approximately 227 net acres in Kansas. The company's production in the state is concentrated in Stafford and Barton counties. Total net production for FY 09 for all Kansas wells was approximately 2,500 barrels or 15.0 MMcfe (million cubic feet of natural gas equivalent). As of Mar. 31, 2009, Index owned approximately 17 net acres in Calcasieu and St. Mary Parishes in Louisiana. Total net production for FY 09 for 2.0 gross wells in Louisiana was approximately 47.6 MMcfe. As of Mar. 31, 2009, Index owned approximately 1,956 net acres in Texas. The company's production is in Brazoria, Matagorda, Victoria, Goliad, Wharton, Colorado, and Nacogdoches counties. Total net production for FY 09 for all Texas wells was approximately 223.9 MMcfe or 37.3 MBoe. Index Oil and Gas Inc. is headquartered in Houston, TX. History:  INCORPORATED in Nevada Mar. 3, 2004, as Thai One On, Inc.; name changed to Index Oil and Gas Inc. Nov. 30, 2005. January 20, 2006, acquired Index Oil & Gas Ltd. (incorporated in the United Kingdom Feb. 21, 2003) for 22,615,552 Common shares and 1,092,676 warrants to purchase Common shares.   Subsidiaries: Index Investments North America Inc. Index Offshore LLC Index Oil & Gas (USA), LLC Index Oil & Gas Limited
Management
	Management Officers Position  Daniel  Murphy Chairman  Lyndon  West President & Chief Executive Officer  Andrew  Boetius Secretary & Chief Financial Officer  Ronald A. Bain Chief Operating Officer Directors  Andrew  Boetius  David  Jenkins  Daniel  Murphy  Lyndon  West
Annual Report
	Annual Report   Income Statement   2009 2008 Oil & gas sales 2,829 1,706 Operating costs 704 303 Depletion, depreciation and amortization 2,094 1,096 Impairment charges 7,003 -- General and administrative expenses 2,431 2,459 Loss from Operations (9,403) (2,152) Interest income 24 206 Net income (9,379) (1,946) Share earns. basic ($0.13) ($0.03) Share earns. diluted ($0.13) ($0.03)   Balance Sheet   2009 2008 Assets: Cash & equiv. 336 2,538 Receivables, net 332 976 Other curr. assets 41 43 Tot. curr assets 709 3,557 Oil & Gas Properties, net 6,263 12,595 Net property 22 26 Total assets 6,994 16,178 Liabilities: Accounts payable and accrued expenses 979 1,026 Asset Retirement Obligation 126 -- Tot. curr. liabs. 1,105 1,026 Asset Retirement Obligation 15 88 Com. stk. p.$0.001 72 71 Paid-in cap. 21,950 21,739 Retained earns. (16,127) (6,748) Other comprehensive income (21) 2 Total liabs. 6,994 16,178
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2009   Full Year 2,800,000     Quarterly Net Income   Data Not Available   Quarterly EPS, US$ Year Quarter Revenue   2009   Full Year (.13)
Stock Data
	Capitalization as of 03/31/2009:     Authorized Shares Outstanding Shares Preferred $0.001 par 10,000,000 None Common $0.001 par 500,000,000 71,636,019   LONG TERM DEBT: None.   Common $0.001 par   Stockholders:  03/31/2009, 194. PRINCIPAL STOCKHOLDERS: June 30, 2009, Lyndon West owned or controlled 8.0% of the Common, and Douglas Wordsworth 5.3%.   Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY   OTC Bulletin Board( Primary): IXOG   Exchange Year High Low OTC Bulletin Board 2008 0.8500 0.1200 OTC Bulletin Board 2007 1.6500 0.4900   DIVIDENDS: Common $0.001 par: No cash.