SOURCE: TexCom, Inc.

May 14, 2007 10:17 ET

TexCom, Inc. Announces Sale of Membership Interest in Seabrook Biodiesel Project

HOUSTON, TX -- (MARKET WIRE) -- May 14, 2007 -- TexCom, Inc. (PINKSHEETS: TEXC) today announced that it sold its 44% membership interest in Houston Biodiesel, LLC to the majority shareholder in the project. Houston Biodiesel is currently constructing a 35 million gallon biodiesel plant in Seabrook, Texas, expected to be in operation in December.

TexCom will receive $3.1 million in the transaction, consisting of recovery of its equity in the LLC plus a developer's fee. In connection with the sale, TexCom will be relieved of corporate guarantees of lease payments payable to LBC Terminals amounting to $23,760,000 million over 5 years. TexCom has also terminated its Asset Management Agreement with the biodiesel project and will no longer guarantee any debt or other obligations of Houston Biodiesel, LLC.

Lou Ross, Chief Executive Officer of TexCom, stated, "After careful review and consideration, we determined that selling our interest in Houston Biodiesel, LLC to our partner and eliminating our corporate guarantees was in our shareholders' best interest. As a public company, we need our investments to be in operating companies in which we hold majority or sole ownership so that we can consolidate financial results. Accordingly, we are withdrawing our capital from the Houston Biodiesel project and will redirect our resources to biodiesel projects and other businesses that we can control. We believe that an inherent inability to control feedstock costs in this situation coupled with rigid liabilities could have been detrimental for TexCom. We have been exploring new approaches for project and feedstock integration and plan to continue our growth in the alternative energy space. We are optimistic that we will be able to redeploy cash from this transaction into future acquisitions that will build substantially more value for our shareholders over the long term."

About TexCom, Inc.

TexCom, Inc. is headquartered in Houston, Texas and is an early-stage, growth-oriented company with its primary focus on the production of Biodiesel. TexCom is also expanding its interests in liquid waste disposal servicing the petrochemical and drilling industries.

For further information on TexCom Resources please visit: http://www.texcomresources.com

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.

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