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Texhoma Energy, Inc. wins auctions for Royalty Interest on two Texas properties and reports that it has filed two years of audited statements

Aug 21, 2014

OTC Disclosure & News Service

Spring, TX -

SPRING, Texas, Aug. 21, 2014 /PRNewswire/-- Texhoma Energy, Inc. ("Texhoma") (OTC Pink: TXHE) announced thatcontinuing with its tradition of oil and gas operations, it has embarked on anacquisition plan of oil and gas properties. Through Texhoma's wholly-ownedsubsidiary, Texhoma Holding Company, it has won two auctions.  The companywon high bid for a  0.016589% royalty interest in the Shooter 916 Leaselocated in Ochiltree County, Texas which has existing oil and gas productionand a 0.25% overriding royalty interest in the Tonto North 390 B #3 welllocated in Scurry County, Texas, which also has existing production.

The effective date for revenuerecognition of both acquisitions commences September 1, 2014. Gil Steedley,president of Texhoma, provided the funding for both acquisitions.

Additionally, Texhoma has replacedits previously filed unaudited financial statements on OTC Market for the twoyears ended September 30, 2013 and September 30, 2012, with audited financialstatements for those periods and has also had its auditor review the financialinformation for the quarters ended June 30, 2014, March 31, 2014, and December31, 2013 as posted on OTC Market. 

About Texhoma Energy, Inc.

Texhoma Energy, Inc. is engaged inthe acquisition, exploration and production of crude oil and natural gas. Thecompany's primary focus has been on south Louisiana and east Texas, includingnear-shore Gulf of Mexico. With the sale of its Louisiana properties, thecompany has begun to replenish its oil and gas holdings in accordance with itstraditional business model (as described in this press release) as well asseeking non-oil and gas opportunities as they arise.  For furtherinformation about Texhoma, please visit www.texhomaenergy.com

This press release may containforward-looking statements, including information about management's view of Texhoma'sfuture expectations, plans and prospects. In particular, when used in thepreceding discussion, the words "believes," "expects,""intends," "plans," "anticipates," or"may," and similar conditional expressions are intended to identifyforward-looking statements. Any statements made in this news release other thanthose of historical fact, about an action, event or development, are forward-lookingstatements. These statements involve known and unknown risks, uncertainties andother factors, which may cause the results of Texhoma, its divisions andconcepts to be materially different than those expressed or implied in suchstatements. The forward-looking statements included in this press release aremade only as of the date hereof. Texhoma cannot guarantee future results,levels of activity, performance or achievements. Accordingly, you should notplace undue reliance on these forward-looking statements. Finally, Texhomaundertakes no obligation to update these statements after the date of thisrelease, except as required by law, and also takes no obligation to update orcorrect information prepared by third parties that are not paid for by Texhoma.

SOURCE Texhoma Energy, Inc.


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