Message #2 From:
NewsBot Date: July 7, 2005 03:03:25 PM
TXEO News Texen Announces New Senior Production Manager
Texen Announces New Senior Production Manager
Texen Oil and Gas, Inc. (OTCBB:TXEO), announced today that Jerry Walters, a senior oil and gas production expert, with over 26 years of experience in the oil and gas development business has been named Senior Production Manager. An experienced executive, he has owned and operated his own production units and managed production for two independent oil & gas companies. As the President of Wild Cat Technologies Incorporated, Jerry has demonstrated a number of cutting edge development techniques to produce oil and gas reserves.
Jerry will oversee the daily operations of both the Brookshire and Victoria fields and will also bring new development opportunities to the company. Since coming to Texen his experience has shown itself already as he has tripled the daily oil production from our Brookshire field and has significantly improved the consistency of the production from our Victoria leases. Currently Mr. Walters, in conjunction with Durango Resources, is conducting a comprehensive field study and analytic review of the Victoria properties. The study is expected to be completed by the end of August and produce a number of new developmental opportunities for the Company. In addition Mr. Walters has begun a well by well analysis of the Brookshire field.
"Jerry is a welcome addition to the Texen family and has already demonstrated he knows the oil business and how to find and produce oil and gas in an economically efficient manner," said Elroy Fimrite, President.
For additional information, please visit our Web site at: www.texenoilandgas.com. Please note the new corporate address and contact numbers below.
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Contact Information:
Corporate Offices: Investor Relations:
14300 N Northsight Blvd, Ste 227
Scottsdale, AZ, 85260
Tel: 480-991-2040 Jim Elbert
Fax: 480-991-2203 888-388-8989
Forward-Looking Statements: This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the completion of a field study and review of the Victoria Properties and any new development opportunities that may arise therefrom.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with oil and gas exploration; changes in reserve estimates if any; the potential productivity of our properties; changes in the operating costs and changes in economic conditions and conditions in oil and gas production and exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2004 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Texen Oil and Gas, Inc.
Tel: 480-991-2040
Fax: 480-991-2203
or
Investor Relations:
Jim Elbert, 888-388-8989
or
www.texenoilandgas.com
