HOUSTON, July 6 /PRNewswire-FirstCall/ -- TexCom, Inc. (OTC Pink
Sheets: TEXC) today announced that its natural gas operating subsidiary
TexCom Partners, LLC has completed its 5th well, the McCan T-6.
The T-6 was drilled to a total depth of 6,390 Ft. and completed in the
Middle Frio at 5,733 Ft. The 5,733 ft. zone will be the 5th Middle Frio
zone produced thus far in TexCom Partners 2005-A limited partnership. The
T-6 will be fully tested and brought online as soon as possible.
TexCom's 4 prior wells, the McCan T-2 and McCan T-3, McCan T-4, and the
McCan T-5 were placed online in the last three months.
The T-3, having experienced water encroachment from below, was cement
squeezed and re-perforated on July 3rd in its original productive zone at
5,922 ft. Flow rate potentials from the T-3 are being determined.
The McCan T-7 well reached total depth of 6,224 on July 4th. Logging
was completed July 5th and the company is preparing to run production
casing in the well.
These wells are part of a TexCom drilling program on a 3,086 acre
holding in the McFaddin North Field in Victoria County, Texas. TexCom
operates the wells and owns a 16% working interest prior to payout and a
32% interest thereafter.
TexCom plans to continue its drilling program for the foreseeable
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.
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
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission permits oil and
gas companies, in their filings with the SEC, to disclose only proved
reserves that a company has demonstrated by actual production or conclusive
formation tests to be economically and legally producible under existing
economic and operating conditions. We use certain terms herein, such as
"probable", "possible", "recoverable", "risked" among others, that the
SEC's guidelines strictly prohibit us from including in filings with the
SEC. Readers are urged to carefully review and consider the various
disclosures made by use which attempt to advise interested parties of the
additional factors which may affect our business.
Greg Noble Brad Barker
SOURCE TexCom, Inc.