SOURCE: Texas Oil and Minerals, Inc.

November 20, 2013 17:43 ET

Texas Oil and Minerals Announces Uploading Onto OTC Markets of the Financial Statements for the Period Ending September 30, 2013 and Related Non-Financial Information

SAN ANTONIO, TX--(Marketwired - Nov 20, 2013) - Texas Oil and Minerals Inc. (OTC Pink: TOMI) announced today that the Company has uploaded the financial statements onto the OTC Markets for the period ended September 30, 2013 and the related non-financial disclosure information bringing up to date the financial reporting requirements for TOMI. The financial statements were reviewed by the Company's Auditors, ADFK Certified Public Accountants. The company is required to follow the Alternative Reporting Standard or the International Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to OTC Pink Basic Disclosure Guidelines, designated as OTC Pink Current Information. OTC Markets provides disclosure statements and has created OTC Pink Basic Disclosure Guidelines in order to assist issuers with understanding their disclosure obligations under the Alternative Reporting Standard. The Company has included the non-financial disclosure required under the Alternative Reporting Standards and has obtained the legal opinion from the Company's counsel. The Yield sign has been removed as a result of the filing of all financial and non-financial information on November 4, 2013 I compliance with OTC Market requirements.

The foregoing administrative efforts are part of the company's strategic plan under the leadership of CEO and President Tom Gouger for the business to maximize shareholder value, provide more transparency of company operations, and allow TOMI to meet the pre-requisites to apply for a "Fully-Reporting" status. Once this process is complete it is the intention of the Company to make the necessary filings with the appropriate regulatory agencies to move TOMI to the Bulletin Board. In addition reaching a "Fully Reporting" status will facilitate the implementation of the Company's operating plan. As recently announced, the Company has completed its first acquisition of a 25% working interest and an 18.75% net revenue interest in the 950 acre Sullivan Tract located in Live Oak County Texas from Tejones Operating Corporation, a related party. The Company has also renewed negotiations on a working and net revenue interest in a producing well located on the Dewitt property.

Tom Gouger, CEO of TOMI stated, "With the Sullivan acquisition and the filing of the updated financial and non-financial information through September 30, 2013 with the OTC Markets the Company now has gas and oil assets, revenue and is fully reporting. We have invested the time and the needed resources in bringing TOMI to this point. My team and I stand 100% behind our plan and believe that we will be able to realize the market value of these and future asset acquisitions."

About Texas Oil and Minerals

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. 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 ventures through acquisition, exploration, and development. http://www.texasoilminerals.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.

Contact Information