SOURCE: TX Holdings, Inc.

October 09, 2007 10:01 ET

TX Holdings Announces New CEO to Lead Company

DALLAS, TX--(Marketwire - October 9, 2007) - TX Holdings, Inc. (OTCBB: TXHG) has appointed Randol Rodgers as Chief Executive Officer of the Company, effective immediately. Mr. Rodgers is an energy industry veteran with over 27 years of experience in oil and gas. He brings to the company an extensive background in petroleum engineering, financial management, and executing mergers and acquisitions. Mr. Rodgers has held operations, financial, and management roles at several large independent producers, including TXO Production/Marathon ( and Union Pacific Resources which has since been acquired by Anadarko (

Mark Neuhaus, Chairman of TX Holdings, Inc., said, "We are very pleased to have Randol join us at TX Holdings. He came to our attention from our investment bankers because of his strong execution skills and proven track record of building value and growing production with young companies. We are confident that under his leadership the company is well-positioned for rapid and profitable growth."

Mr. Rodgers was most recently Principal of Otero Resources, an oil and gas investment firm. Prior to forming Otero he was a founding partner of Sawtooth Energy Partners, LLC, which was started in 2002 and sold to EnerVest ( in 2006, returning in excess of 4:1 and 89% IRR to the equity partners. Before forming Sawtooth, Mr. Rodgers was an executive with the start-up natural gas compression service company USA Compression Corp., which has now grown to become one of the largest compression companies in the US (

"I am very excited about joining Mark and the team he has put together at TX Holdings," said Rodgers. "It is obviously an excellent time to be in the energy business and I am looking forward to working with the current management team to develop and exploit the company's present assets. As the company moves forward we anticipate generating new opportunities to grow via the drillbit as well as by acquisition of reserves."

Mr. Rodgers earned both BSME and MBA degrees from SMU.

About TX Holdings Inc.

TX Holdings is a publicly traded oil & gas production company. The Company's strategy consists of acquiring and developing shallow, low-risk, and high-yield oil and gas leases in West Texas, Kansas, Oklahoma and Louisiana. TX Holdings currently has a working interest in over 100 wells divided between four active projects. For further information, please visit the Company's website at

FORWARD-LOOKING STATEMENTS: The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof.

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