SPRING, Texas, Sept. 17, 2014 /PRNewswire/ -- Texhoma
Energy, Inc. ("Texhoma") (OTC
Pink: TXHE) announced that continuing with its tradition of oil and
gas operations, it has won a third auction and acquired various
non-operated working interests in eight (8) wells located in
Gregg and Upshur Counties, Texas. The working interest ownership interest
percentages vary between .053985% and .54487%. The wells are
operated by Quantum Resources Management, LLC of Houston, Texas. Combined, these wells
have produced an average of approximately 280,000 cubic feet per
day of natural gas (MCFPD) and 8 barrels of oil per day (BOPD) over
the past six (6) months.
The effective date for revenue recognition of the acquisition
commenced September 1, 2014.
Gilbert Steedley, president of
Texhoma, provided the funding for
the acquisition.
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 which represents the third
acquisition in recent weeks) 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.