OTCBB: TXHG | Industry: OIL & GAS
About TX Holdings, Inc. (TXHG)
TX Holdings, Inc., (TXHG) TX Holdings has acquired working and revenue interests in oil & gas properties located in Texas that were under developed in the 1970’s. Some of North America’s greatest oil and gas fields were developed using inefficient exploration and extraction methods; in many cases, leaving behind large untapped oil and gas reserves.
Most of these reserves are now accessible and identifiable with modern production methods using high-tech data accumulation and analysis capabilities. The reserves that TX Holdings has acquired working interests in were under-developed due to oversight and antiquated technology methods used during the original development of the properties.
TX Holdings’ immediate objective is to develop the fields that the Company currently controls while continuing its research for additional prospects which meet the profile TX Holdings’ personnel have identified. Generally, these areas afford multi-zone geological potential at shallow drilling depths, year-round operational access and existing production and product transportation infrastructure. An expanding undeveloped land inventory is a key component of TX Holdings’ exploration strategy.
TXHG Stock Facts as of April 29th 2010
Last Trade: $0.065 Average Volume: 20,607
Shares Outstanding: 51 Million Estimated Float: 21.5 MIllion
52-week Low: $0.0452 52-week High: $0.16
Market Capitalization: $3,330,398 Exchange: OTC Bulleting Board
The Parks Lease
The Company currently owns a 75% working interest on its 320-acre Parks Lease located in Callahan County, Texas. A report dated July 2007, indicates Proved Reserves for the Parks lease estimated to be at 7,467,900 barrels of oil. . The report states Proved Developed Producing reserves at the time the report was written were 5,974,320 gross barrels of which 4,854,135 barrels, 81.75% net interest could be recovered over a 23-year period. To date the Company has reactivated 12 wells, (10 producers and 2 injector wells). The current production averages 60 to 90 barrels of oil per month. TX Holdings is currently doing a work-over and reactivation program to increase the production. The Company anticipates production levels to increase to 200-250 barrels per month within the next 12 months.
The Contract Area 1 Lease
TX Holdings has acquired an 8.5% working interest on the 247-acre Contract Area 1 Lease located in Eastland County, Texas. The reserve report for Contract Area 1 indicates proven undeveloped reserves of 36 million bbls of oil. The property currently has twenty-eight (28) producing and four (4) injector wells in operations. The total current production is 5 to 6 bbls a day. Although production is minimal, the Company believes that it may be able to achieve higher production rates through the development of an effective water flood program. TX Holdings is currently working with the new operator to achieve this goal while aggressively planning a 50 well drilling program for 2010.
TX Holdings is well positioned as an Exploration and Producing Oil & Gas Company in an industry that faces increased worldwide energy demands. The Energy Market has created an advantageous investment climate for North American E&P companies.
Utilizing a careful and strict screening process for future acquisitions while working closely with operational partners, the Company anticipates that it will attain production levels in the near-term of 200 plus barrels per day. This could equate to annual revenues of well over $5,000,000.00.
Management Bios – USA
Buck Shrewsbury –On December 24, 2007, William “Buck” Shrewsbury was appointed as the Chairman of the Board of Directors and Chief Executive Officer of the Company. Mr. Shrewsbury attended the University of Kentucky 1962 -1965 with a major in Civil Engineering. He served as the IT Manager with a large steel mill for 19 years. Mr. Shrewsbury owns his own trucking company as well as being an agent for a major transportation company.
Richard Novack – Richard Novack, age 50, is a graduate from Indiana University of Pennsylvania and holds a Bachelor of Science degree in Business Administration with a heavy concentration in corporate accounting. Mr. Novack began his career in finance with a major telecommunications company, and later began using his entrepreneurial spirit, starting several new business enterprises, including businesses in the printing, vending and real estate industries. In the past 10 years Mr. Novack has been an active investor in the oil and gas industry.
Disclaimer: This publication is an advertisement on behalf of TX Holdings, Inc. and may not be construed as investment advice. This advertisement does not provide an analysis of the Company’s financial position and is not a solicitation to purchase or sell securities of the Company. Readers should consult with their own independent tax, business and financial advisors with respect to any investment, including any contemplated investment in the advertised Company. The Publisher, its affiliates, officers, directors, subsidiaries and agents (collectively, “the Publisher”) of this advertisement has been compensated by the Company. In preparing this advertisement, the Publisher has relied upon information received from the Company, which although believed to be reliable, cannot be guaranteed. This advertisement is not an endorsement of the Company by the Publisher. The Publisher is not responsible for any claims made by the Company.