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Texhoma Energy, Inc. wins auctions for Non-operated Working Interest in Eight (8) Wells located in Gregg and Upshur Counties, Texas

Sep 17, 2014

OTC Disclosure & News Service

- Texhoma Energy, Inc. wins auctions for Non-operated Working Interest in Eight (8) Wells located in Gregg and Upshur Counties, Texas

Texhoma Energy, Inc. wins auctions for Non-operated Working Interest in Eight (8) Wells located in Gregg and Upshur Counties, Texas

PR Newswire

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.

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