Texhoma Energy, Inc.

Texhoma Energy, Inc.

August 10, 2006 23:03 ET

Texhoma Energy, Inc.: Buck Snag Prospect

HOUSTON, TEXAS--(CCNMatthews - Aug. 10, 2006) - Texhoma Energy, Inc. ("Texhoma") (PINK SHEETS:TXHE) is pleased to announce that it has completed its acquisition of the oil and gas prospect known as the Buck Snag Project.

Texhoma has acquired a 30% interest covering 280 acres of land in Colorado County, Texas. Shallow development wells will be drilled on the property and completed to produce by-passed and attic gas reserves. The first well will be drilled to a depth of approximately 4,500 feet.

The structure and isopach maps that can be found on Texhoma's website illustrate the estimated lateral extent and sand thickness of the primary reservoir objectives. The first well will be drilled approximately 500 feet north of the Windsor #2-Schiurring well. Subsequent well locations and depths will be keyed off the geology of the first well.

Texhoma has been informed by the operator of the project that the first well of the Buck Snag project was spudded on August 9th. The current progress is that the well was drilled to 561 feet and 8 5/8th inch surface casing was run. Drilling of the No. 1 Schiurring well is anticipated to take approximately one week.

Please visit our website for up-to-date information on the drilling of this and other wells.

Safe Harbor Statement: "This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein."

Contact Information

  • Texhoma Energy, Inc.
    Peter Wilson
    Investor Relations Inquiries
    (604) 629-8603 (Canada)
    Texhoma Energy, Inc.
    Terje Reiersen
    Investor Relations Inquiries
    (713) 457-0610 (Houston)