Texas Gas & Oil Inc.
TSX VENTURE : TXG

December 20, 2007 20:14 ET

Texas Gas & Oil Inc.: Special Meeting of Shareholders

BURNABY, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2007) - Gerry Gill, Chairman and CEO of Texas Gas & Oil Inc. (TSX VENTURE:TXG) wishes to inform shareholders that the Special Meeting of Shareholders originally scheduled for December 17, 2007 and rescheduled for December 21, 2007 has been rescheduled for January 15, 2009 at 10:00 AM at the Company's offices.

This rescheduling became necessary in order to mail the meeting material within the prescribed time prior to the meeting. The meeting material will be mailed on December 21, 2007.

This release and referenced materials contain forward looking statements, within the meaning of the "safe-harbour" provisions of the Private Securities Act of 1995, which are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause actual results to differ materially include: rapid technological and/or market changes in the industry including actual electrical billing rates; the adequate protection of the Company's proprietary rights; and other factors described in the Company's regulatory filings. Although we believe the expectations reflected in our forward looking statements are reasonable, individual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

On Behalf of the Board of Directors,

Gerry Gill, Chairman & Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.

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