SPRING, Texas, Aug. 21, 2014 /PRNewswire/ -- Texhoma Energy,
Inc. ("Texhoma") (OTC Pink: TXHE)
announced that continuing with its tradition of oil and gas
operations, it has embarked on an acquisition plan of oil and gas
properties. Through Texhoma's
wholly-owned subsidiary, Texhoma Holding Company, it has won two
auctions. The company won high bid for a 0.016589%
royalty interest in the Shooter 916 Lease located in Ochiltree County, Texas which has existing oil
and gas production and a 0.25% overriding royalty interest in the
Tonto North 390 B #3 well located in Scurry County, Texas, which also has existing
production.
The effective date for revenue recognition of both acquisitions
commences September 1, 2014.
Gil Steedley, president of
Texhoma, provided the funding for
both acquisitions.
Additionally, Texhoma has
replaced its previously filed unaudited financial statements on OTC
Market for the two years ended September 30,
2013 and September 30, 2012,
with audited financial statements for those periods and has also
had its auditor review the financial information for the quarters
ended June 30, 2014, March 31, 2014, and December 31, 2013 as posted on OTC
Market.
About Texhoma Energy, Inc.
Texhoma Energy, Inc. is engaged in the acquisition, exploration
and production of crude oil and natural gas. The company's primary
focus has been on south Louisiana
and east Texas, including
near-shore Gulf of Mexico. With
the sale of its Louisiana
properties, the company has begun to replenish its oil and gas
holdings in accordance with its traditional business model (as
described in this press release) as well as seeking non-oil and gas
opportunities as they arise. For further information about
Texhoma, please visit
www.texhomaenergy.com
This press release may contain forward-looking statements,
including information about management's view of Texhoma's future expectations, plans and
prospects. In particular, when used in the preceding discussion,
the words "believes," "expects," "intends," "plans," "anticipates,"
or "may," and similar conditional expressions are intended to
identify forward-looking statements. Any statements made in this
news release other than those of historical fact, about an action,
event or development, are forward-looking statements. These
statements involve known and unknown risks, uncertainties and other
factors, which may cause the results of Texhoma, its divisions and concepts to be
materially different than those expressed or implied in such
statements. The forward-looking statements included in this press
release are made only as of the date hereof. Texhoma cannot guarantee future results,
levels of activity, performance or achievements. Accordingly, you
should not place undue reliance on these forward-looking
statements. Finally, Texhoma
undertakes no obligation to update these statements after the date
of this release, except as required by law, and also takes no
obligation to update or correct information prepared by third
parties that are not paid for by Texhoma.
SOURCE Texhoma Energy, Inc.