------------------------------------ Company name: Texhoma Energy, Inc. Stock symbol: TXHE.PK Current price: 0.12 (up 50% this week) Expected price 10/20/2006: 0.52 ------------------------------------
The information mentioned herein has not been released to the general public and should be kept confidential until its scheduled announcement on Friday, October 20. I strongly suggest that you get in before then.
HOUSTON, TEXAS--(MARKET WIRE)--October 20, 2006 -- Texhoma Energy, Inc. [TXHE] is pleased to announce Successful drilling results on the Clovely site. As mentioned in earlier updates we encountered two expansive gas pockets with a flow rate estimated at 900 MCF of gas per day. Today we are happy to report the discovery of an oil reservoir which has far exceeded our initial expectations. Recoverable reserves are estimated at 2mil barrels and plans are in place to start additional drilling in order to take advantage of this very fortunate situation. As always, we will keep our shareholders abreast of the latest happenings.
With offices in Houston, Texhoma Energy Inc. is a junior international oil and gas company focused on acquiring, developing and producing oil and gas. The Company is currently active in the southern United States.
The Company's principal geographic area of focus lies in the wider Gulf of Mexico petroleum basin, which includes onshore and in-shore opportunities. The Company participates in a selected number of oil and gas ventures through judgment by a small team of experienced professionals. Recently these experts have had a string of successes which will be reflected in upcoming revenue reports.
Revenue from production is estimated to be worth $120mil. With 177mil shrs outstanding this gives us a book value of 0.67
This is a great opportunity for you to make the market work for you. After 10/20/2006 the price will increase significantly.