Independence Energy Corp. has completed a transaction that has resulted in the acquisition of a 100% interest in the Coleman South oil and gas exploration land package in Coleman County, Texas.

Mr. Gregory C. Rotelli, CEO and President of Independence Energy stated, "We have had our eyes set on the Coleman South Leases land package for quite a while now, first as a minority exploration and development partner and now as the 100% sole owner. This was an opportunity that we couldn't pass up, not only because we believe the project has enormous upside, but also because we were able to negotiate a great deal with the previous holders to acquire the entire land package for no cash and without any dilution of our stock. We have already started to actively interview potential operators and going forward, we envision quickly beginning an exploration and development strategy at Coleman South that could potentially lead to drilling numerous new wells on the property."

Tags: Independence Energy Corp.