TXHE Texhoma Energy Inc (CE)

Texhoma Energy, Inc. ("Texhoma") (OTCBB:TXHE) is pleased to announce that the results of the Hong Fah-B01 well have been presented to the Department of Mineral Fuels (DMF), which is part of the Ministry of Energy in Thailand, as part of its continuing exploration of Block B7/38. With a 40% ownership, Texhoma Energy is focused on Block B7/38 located in the Gulf of Thailand in average water depths of 20 meters. The concession consists of approximately 700,000 acres and has been surveyed with 2D and 3D seismic during 1992 to 1997. Multiple oil prospects and leads have been identified within the block. A comprehensive database has been acquired with this permit with an estimated replacement cost of approximately US $15 million. Several major international Oil and Gas companies currently produce and many more are exploring the Gulf of Thailand for oil and gas close to Texhoma Energy's Block B7/38. To date the Company, with its partners has expended approximately US $7.6 million completing the first stage of exploration of the Block further increasing its value. Texhoma Energy is currently reviewing its next stage of exploration with the DMF and will report development plans and deployment timing when defined by the discussions. Texhoma Energy, Inc. Frank A. Jacobs, Executive Chairman Safe Harbor Statement: "This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein." Texhoma Energy, Inc. (OTC Bulletin Board:TXHE)