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Independence Energy Corp. Announces Completion of Drill Site Preparations at Shields-MEI #105H Horizontal Well in Coleman County, Texas

May 7, 2012 - Seal Beach, CA

Independence Energy Corp. (OTCBB: IDNG) (the "Company" or "Independence Energy") is pleased to announce that final site preparations have been completed at the Shields-MEI #105H Horizontal Prospect Well location in Coleman County, Texas. Drilling of the Shields-MEI #105H well is expected to commence immediately following the planned drilling of the Vaughn-MEI #106 vertical well, also located in Coleman County. MontCrest Energy Inc. ("MEI"), the project operator, anticipates that the contracted drill rig should arrive at the Vaughn-MEI #106 location late next week.

The Shields-MEI #105-H Prospect Well is expected to be drilled as a horizontal well targeting the Gardner Sandstone formation. The Shields-MEI #105-H is thought to be the first horizontal well permitted and drilled in Coleman County. Project geologists expect that the well, if successful, may have a potential 1500'+/- horizontal leg in the Gardner Sandstone target pay zone.

The Gardner Sandstone is the second formation of the infield Strawn Sand series. The formation is thought to contain a very highly developed structural trap reservoir across the Shields-MEI #105-H Prospect Well lease. The Company believes that this presents an excellent opportunity for the exploitation of the reservoir through the drilling of a long horizontal well. Analyses of offset well logs and structural mapping indicates that the potential reservoir could yield up to a 20'+ thick pay zone with 15% to 18% porosity and 25% water saturation.

"We are very excited about the prospect of being involved in drilling a horizontal well in this historically productive, yet relatively underdeveloped area," stated Mr. Gregory C. Rotelli, CEO and President of Independence Energy. "By drilling the prospect well as a horizontal, it should be able to effectively drain 60+ acres of reservoir, which would require three traditional vertical wells for the same effectiveness. If successful, this would increase our return on investment potential considerably."

The Shields-MEI #105-H Prospect Well is part of the highly prospective MontCrest Energy Drilling Program #3 in Coleman County, Texas (the "MontCrest Drill Program"). The MontCrest Drill Program consists of a turnkey participation in two exploration wells targeting multiple oil bearing sand formations previously productive in the region (Shields-MEI #105H and Vaughn-MEI #106). The Company holds a 5% Working Interest in the MontCrest Drill Program.

Further updates regarding the MontCrest Drill Program 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 results of drilling of the Shields-MEI #105H well, the existence, size and nature of oil deposits, as well as the resulting economics. 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.

For additional information, contact;

LiveCall Investor Relations
for Independence Energy Corp.
Mr. Gerry Belanger
Investor Contact
(800) 976-4490


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