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Micro-Cap on the Move; Independence Energy Corp. (IDNGD)

Shares of Independence Energy Corp. (OTC: IDNGD), an oil and gas exploration and development company focused on projects in the U.S., have risen sharply in trading today.

At last check, IDNGD shares were trading 10.91% higher at $0.153 on above average volume of 6.06 million. Despite today’s gains, IDNGD shares are down more than 71% in the last three trading sessions.

Independence Energy are gaining momentum today after the company announced that it received confirmation that the contracted drilling rig for the Taylor-MEI #113 well has arrived at the well site in Coleman County, Texas.

CEO Gregory C. Rotelli said that now that the contracted rig has finally arrived, drilling of Taylor-MEI #113 is scheduled to begin early next week. Taylor-MEI#113 is part of a two-well re-completion program aimed at potential oil bearing formations shown to be productive in the area.

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