TexCom, Inc. to Divest Aviation Subsidiaries

Aug 07, 2006, 01:00 ET from TexCom, Inc.

    HOUSTON, Aug. 7 /PRNewswire-FirstCall/ -- TexCom, Inc. (OTC Pink
 Sheets: TEXC) announced today that it has signed a Stock Purchase Agreement
 with AvStar Aviation, Inc. of Houston for the sale of TexCom's aviation
 related subsidiaries, San Diego Airmotive and Sky Patrol Aviation, Inc.
     San Diego Airmotive operates aircraft maintenance, repair and
 inspection facilities at the Ramona Municipal Airport in Ramona, California
 and at the French Valley Airport in Temecula, California. Sky Patrol
 Aviation makes available aerial surveillance services.
     Lou Ross, President of TexCom, stated, "As TexCom moves forward in
 implementation of our plans in biodiesel production, these aviation related
 businesses no longer fit with our core business strategies. We're very
 pleased that we have located an acquirer in AvStar with plans and
 capabilities to expand in the aviation sector." Robert Gaidousek, Vice
 President of AvStar added, "We are looking forward to the acquisitions of
 the two companies from TexCom, as it fits our plans of growth in the
 business of maintenance, repair and overhaul of aircraft. To that end we
 are also in the process of opening a maintenance facility, and have leased
 hangar space at Houston Southwest Airport, to serve the Houston market, in
 addition to the operations in Southern California."
     The subsidiaries are being sold to AvStar for $410,000 plus the
 assumption of up to $90,000 in payables. The stock sale will close on or
 before October 31, 2006, subject to completion of standard due diligence by
     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
 biodiesel. 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
     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

SOURCE TexCom, Inc.