Texas Oil & Minerals Shows Financial Growth with an Updated Balance Sheet

HOUSTON, June 21, 2011 /PRNewswire/ -- Texas Oil and Minerals (OTC MARKETS: BNPD), http://www.texasoilandmineralsinc.com announces today that the company has updated its balance sheet on the OTC Markets website moving the company closer to satisfying the criteria for complete disclosure for the OTC Markets. The newly updated balance sheet shows booked assets from equipment and the four oil wells included in the recent Brian Estate lease acquisition of which two wells are currently producing oil.

Texas Oil and Minerals will begin re-working the four existing wells on the Bryan Estate lease over the next several weeks. This will bring the four wells to their full production capabilities while maximizing the lease cash flow.

Commenting on the update, Tom Gouger, CEO of Texas Oil and Minerals, stated "With completion of the balance sheet our work has already started and we anticipate it taking a few months of auditing to reach our next company milestone.  During this time period, we intend to meet FNRA disclosure qualifications and move BNPD upward from the Pinksheets tier to the Bulletin Board fully reporting status."

Shareholders and anyone interested in monitoring the progress of the company are encouraged to subscribe to the electronic mailing list at: http://www.texasoilandmineralsinc.com

About Texas Oil and Minerals (BNPD)

Texas Oil and Minerals creates value by acquiring and exploiting reserves in fields specifically targeted for oil and high-rate return North American clean burning natural gas. We are involved in prospects that range in value from $1,000,000 to $50,000,000, which include seismic and land projects, drilling prospects and the purchase of producing properties. Our team is comprised of highly skilled industry professionals who leverage their knowledge toward the success of our business. With more than three generations of collective experience, this team of professional and talented production personnel can provide innovative exploration and development solutions focused on creating exceptional returns in oil and gas through acquisition and exploration. http://www.texasoilandmineralsinc.com

Safe Harbor Statement:

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as INCL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

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SOURCE Texas Oil and Minerals