HOUSTON, May 5 /PRNewswire-FirstCall/ -- TexCom, Inc. (OTC Pink Sheets: TEXC) announced today that it has executed a Preliminary Engineering Agreement with Lurgi PSI, based in Memphis, Tennessee, to build a 35 Million gallon per year Biodiesel Plant at the LBC bulk liquids terminal in Seabrook, Texas. This facility is the first of several Biodiesel production sites that TexCom currently plans to build and operate in the south central United States. TexCom had previously announced the signing of a Letter of Intent with LBC to locate the 35 million gallon per year biodiesel plant at LBC Houston's Seabrook site. LBC, based in Paris, France, is one of the largest owner/operators of bulk chemical terminal operations in the world. The TexCom plant will utilize existing and newly added on-site storage capacity and other terminal facilities owned and operated by LBC under a fifteen year lease agreement. The facility will allow transportation of raw materials and product via barge, rail and truck. The Engineering Agreement precedes the execution of a definitive Engineering, Procurement & Construction Contract ("EPC"). TexCom will execute the EPC when the project financing has been completed. Lurgi will provide the process technology, design and plant construction, utilizing its continuous process for converting soybean oil into fuel grade Biodiesel. Lurgi is recognized as a worldwide leader in the design and construction of Biodiesel facilities, having completed numerous facilities in Europe and currently building a plant in Iowa. The TexCom project design includes the capability to store conventional petroleum diesel, allowing TexCom to blend and market B20 and other biodiesel blends as well as B100 on site. Feedstock will be brought in via barge or rail to the site, located near the Houston Ship Channel, to produce the renewable fuel. Definitive feedstock and off-take agreements are currently being negotiated to ensure that at completion, the plant can move quickly to capacity. Lou Ross, President of TexCom Resources stated, "We have been working diligently for the past two years to put ourselves in position to enter the Biodiesel business. This facility will make a strong statement concerning our commitment and capability to execute our Biodiesel business plan. We chose to build at the LBC terminal in Seabrook, Texas because of its ideal location adjacent to the Houston Ship Channel." About Bio-Diesel Biodiesel is a clean burning alternative fuel, produced from domestic, renewable resources. Biodiesel contains no petroleum, but it can be blended at any level with petroleum diesel to create a biodiesel blend. It can be used in compression-ignition (diesel) engines with little or no modifications. Biodiesel is simple to use, biodegradable, nontoxic, and essentially free of sulfur and aromatics. Biodiesel is registered as a fuel and fuel additive with the Environmental Protection Agency (EPA) and meets clean diesel standards established by the California Air Resources Board (CARB). Neat (100 percent) biodiesel has been designated as an alternative fuel by the Department of Energy (DOE) and the US Department of Transportation (DOT). About TexCom TexCom, Inc. is headquartered in Houston, Texas and is an early-stage, growth-oriented company with its primary focus on the production of Bio- Diesel. TexCom also has interests in liquid waste disposal servicing the petrochemical and drilling industries. Additionally, the company is engaged in exploration and production of oil and gas through its wholly owned subsidiary TexCom Partners, LLC. Forward-Looking Statements Statements contained herein and the information incorporated by reference herein may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). Forward-looking statements can be identified by the use of forward-looking terminology such as, but not limited to, "may," "will," "expect," "anticipate," "estimate," "would be," "believe," or "continue" or the negative or other variations of comparable terminology. We intend such forward-looking statements to be covered by the safe harbor provisions applicable to forward-looking statements contained in Section 21E of the Exchange Act. Such statements (none of which is intended as a guarantee of performance) are subject to certain assumptions, risks and uncertainties, which could cause our actual future results, achievements or transactions to differ materially from those projected or anticipated. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demands and acceptance, changes in technology, economic conditions, the impact of competition and pricing, and government regulation and approvals. TexCom cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those TexCom expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting our business. Our expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis, including without limitation, our examination of historical operating trends, data contained in our records and other data available from third parties. There can be no assurance, however, that our expectations, beliefs or projections will result, be achieved, or be accomplished. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no duty to update these forward-looking statements. Contacts: Brad Barker Greg Noble Brad@tcri.net Greg@tcri.net 713-914-9193 713-914-9193
SOURCE TexCom, Inc.