Texas Oil & Minerals Announces Uploading Onto OTC Markets of the Financial Statements for the Period Ending September 30, 201...
November 20 2013 - 5:43PM
Marketwired
Texas Oil and Minerals Announces Uploading Onto OTC Markets of the
Financial Statements for the Period Ending September 30, 2013 and
Related Non-Financial Information
SAN ANTONIO, TX--(Marketwired - Nov 20, 2013) - Texas Oil and
Minerals Inc. (OTC Pink: TOMI) announced today that the Company has
uploaded the financial statements onto the OTC Markets for the
period ended September 30, 2013 and the related non-financial
disclosure information bringing up to date the financial reporting
requirements for TOMI. The financial statements were reviewed by
the Company's Auditors, ADFK Certified Public Accountants. The
company is required to follow the Alternative Reporting
Standard or the International Reporting Standard by
making filings publicly available through the OTC Disclosure &
News Service pursuant to OTC Pink Basic Disclosure Guidelines,
designated as OTC Pink Current Information. OTC Markets
provides disclosure statements and has created OTC Pink Basic
Disclosure Guidelines in order to assist issuers with understanding
their disclosure obligations under the Alternative Reporting
Standard. The Company has included the non-financial
disclosure required under the Alternative Reporting Standards and
has obtained the legal opinion from the Company's counsel. The
Yield sign has been removed as a result of the filing of all
financial and non-financial information on November 4, 2013 I
compliance with OTC Market requirements.
The foregoing administrative efforts are part of the company's
strategic plan under the leadership of CEO and President Tom Gouger
for the business to maximize shareholder value, provide more
transparency of company operations, and allow TOMI to meet the
pre-requisites to apply for a "Fully-Reporting" status. Once this
process is complete it is the intention of the Company to make the
necessary filings with the appropriate regulatory agencies to move
TOMI to the Bulletin Board. In addition reaching a "Fully
Reporting" status will facilitate the implementation of the
Company's operating plan. As recently announced, the Company has
completed its first acquisition of a 25% working interest and an
18.75% net revenue interest in the 950 acre Sullivan Tract located
in Live Oak County Texas from Tejones Operating Corporation, a
related party. The Company has also renewed negotiations on a
working and net revenue interest in a producing well located on the
Dewitt property.
Tom Gouger, CEO of TOMI stated, "With the Sullivan acquisition
and the filing of the updated financial and non-financial
information through September 30, 2013 with the OTC Markets the
Company now has gas and oil assets, revenue and is fully reporting.
We have invested the time and the needed resources in bringing TOMI
to this point. My team and I stand 100% behind our plan and believe
that we will be able to realize the market value of these and
future asset acquisitions."
About Texas Oil and Minerals
Texas Oil and Minerals creates value by acquiring and exploiting
reserves in fields specifically targeted for oil and high-rate
return North American clean burning natural gas. We are involved in
prospects that range in value from $1,000,000 to $50,000,000, which
include seismic and land projects, drilling prospects and the
purchase of producing properties. With more than three generations
of collective experience, this team of professional and talented
production personnel can provide innovative exploration and
development solutions focused on creating exceptional returns in
oil and gas ventures through acquisition, exploration, and
development. http://www.texasoilminerals.com.
Safe Harbor Statement:
This release includes forward-looking statements intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by phrases
such as INCL or its management "believes," "expects,"
"anticipates," "foresees," "forecasts," "estimates" or other words
or phrases of similar import. Similarly, statements herein that
describe the Company's business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements. All
such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements.
For Further Information: Texas Oil and Minerals Inc. Investor
Relations 1-866-786-2942 http://www.texasoilminerals.com