SOURCE: TexCom, Inc.

November 20, 2008 10:10 ET

Update on TexCom Gulf Disposal (TGD) Permit Process

HOUSTON, TX--(Marketwire - November 20, 2008) - TexCom, Inc. (PINKSHEETS: TEXC) announced today that the Texas Commission on Environmental Quality (TCEQ) held a hearing yesterday to review TGD's application to receive a permits for its non-hazardous wastewater injection well in Montgomery County. At the hearing, the Administrative Law Judges (ALJs) who presided over the case and the TCEQ Executive Director reconfirmed their recommendations for issuance of the permits. The TCEQ Commissioners remanded the application back to the executive director and the ALJs with the request that TGD provide supplemental information and recalculate certain injection parameters. TGD looks forward to performing these recalculations in the near future and will provide the results to all parties including the TCEQ staff and the ALJs for purposes of rendering a final decision.

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 statements.

Questions regarding this press release or requests for additional information should be directed to Scott Miller with TGD at 512/529-8244.

WebSite: www.texcomresources.com

Contact Information

  • Contact:
    Scott Miller
    TGD
    512/529-8244