HOUSTON, March 8, 2012 /PRNewswire/ -- Texas Gulf Energy, Inc. (OTCQB: TXGE) www.tgnrg.com announced today that the company's three recently announced acquisitions will have a major impact on revenues and net income in calendar year 2012 versus calendar year 2011. Beginning with the acquisition of International Plant Services in December 2011, followed by the purchase of Texas Gulf Oil & Gas in January and petrochemical services company Fishbone Solutions, Ltd (www.fishbonecompanies.com) in March, Texas Gulf Energy continues to meet or exceed targets established for 2012.
Texas Gulf Energy CEO David Mathews commented, "We are building Texas Gulf into the vertically integrated energy company we announced to our shareholders in December 2011. Per our recent Reg FD disclosure on February 24, 2012, we believe that gross revenues in 2012 will be in the range of $40-45 million (USD), and US GAAP income is projected to be from $2.6 million to $2.925 million (USD). Our acquisitions and revenue are proceeding as expected in 2012, and we look forward to reporting more positive results throughout the year."
About Texas Gulf Energy, Inc. (www.tgnrg.com) (Formerly known as Global NuTech, Inc.)
Since its founding in 2003, our flagship company, International Plant Services, has deployed thousands of engineering, construction, technical, skilled crafts and project management personnel to major international energy companies, including Exxon Mobil, Conoco Phillips, Chevron, Valero, and others. We are particularly well known throughout the energy markets for our ability to provide construction services with professional, experienced and well trained teams to maximize the ability of our customers to complete major projects safely, on time and on budget. Now entering our tenth year in business, we have vertically integrated our service offering into other energy market segments, including wellhead services, oil and gas production, and professional consulting services both domestically and internationally to better serve the needs of our customers.
Contact: Craig Crawford, 281-867-8400, or email firstname.lastname@example.org
Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," 'expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified TXGE's disclosures or filings with the SEC. You are further cautioned that penny stocks, like BOCL or TXGE, are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.
SOURCE Texas Gulf Energy, Inc.