Texhoma Comments on Revised Filing/Thailand Exploration Update
August 26 2005 - 9:30AM
Business Wire
Texhoma Energy, Inc. ("Texhoma") (OTCBB:TXHE) comments on "E" on
the Company's OTC-BB trading symbol. The Company is currently in
the process of re-filing financial statements with the SEC to
include consolidated audited financials of BSP (Black Swan
Petroleum) which involves two companies, one in Thailand and one in
Australia, both of which have different year-end dates. The company
currently has audited Financials through 2004 according to Thai
GAAP and Australian GAAP. The subsidiary accounts need to be
compliant with US GAAP standards and we are in process of
finalizing the engagement of a US-based CPA firm for the subsidiary
US GAAP restatement. Texhoma's management has been in contact with
the SEC and is confident that these consolidation and logistic
issues will be resolved and the "E" removed when completed.
Additionally, Texhoma Energy, Inc., is pleased to announce that the
Company has received conditional approval from the DMF (Department
of Mineral Fuels, Thailand) as to the "good Standing" of its permit
in Block B7/38 in the Gulf of Thailand and to its entering into the
Third exploration obligation period running from March 3, 2005, to
March 2, 2008. Several major Oil and Gas companies currently
produce and many more are exploring the Gulf of Thailand for oil
close to Block B7/38. To date Texhoma, its partners and previous
owners have expended over US $10 Million is seismic and drilling
activities. 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."
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