Petrosearch Obtains Credit Facility

Petrosearch Obtains Credit Facility 


HOUSTON, Nov. 24  /PRNewswire-FirstCall/ -- Petrosearch Corporation , as part of
its program to expand drilling operations, has negotiated an unsecured revolving
bank credit facility to be put into place within the next ten days.

The new facility consists of an initial $2 million unsecured revolving credit
line with a guaranty provided by 4R Energy Lending L.L.C., a third party.  The
agreement provides for the facility to be increased to $5 million in the near
future.

"This credit facility enables us to expedite our development plans within the
Petrosearch family of companies," Greg Noble, VP Corporate Finance said. "The
confidence shown by 4R is most gratifying.  We believe that this will mark the
beginning of a long, and mutually beneficial relationship."

"We see in Petrosearch the possibility to support capital expenditures and
project development with a proven management team in an energy environment with
incredible growth potential," Allan Smedstad, a spokesman for 4R Energy said. 
"Petrosearch's mission is to empower the right producers with the right
projects, and 4R is committed to helping provide the tools to accomplish that
mission."

Petrosearch plans to employ the credit facility providing additional capital for
T.K. Petrosearch in Fort Bend County, Texas; Guidance Petrosearch in Stark
County, North Dakota; and Cavalier Petrosearch in initiating its development in
South Texas.  In addition, new Petrosearch subsidiaries are being planned for
implementation by year end.

Further information will be released as it becomes available and will be posted
on the company Web site, http://www.petrosearch.com/.

About Petrosearch: Petrosearch Corporation, a Texas Corporation (formerly Texas
Commercial Resources, Inc.), was created by a team of seasoned and successful
oil and gas professionals.  Through its Advisory Committee and broad base of
co-founders, Petrosearch has extensive depth of management and experience in oil
and gas exploration, development, production, marketing and financing.  The
company's unique approach to finding and developing top oil and gas prospects in
North America includes incubator investment strategies and franchise financing
through joint ownership incentive agreements with existing, successful
independent oil and gas producers possessing exclusive knowledge of overlooked,
undeveloped or underdeveloped oil and gas resources. Leading independents are
motivated to bring their best prospects to Petrosearch because they stay on to
manage the subsidiary operating companies created to exploit each petroleum
asset and share fully in the value generated as the properties are developed. 
After initial funding has been returned to the parent company, each independent
has the option of acquiring equity ownership in his/her own subsidiary. 
Petrosearch Corporation, through its current four wholly owned operating
subsidiaries, holds oil and gas properties in Texas and North Dakota.

About 4R Energy Lending, L.L.C.: Houston based, 4R provides credit enhancement,
lease bank facilities, and other investment avenues to energy companies that
meet its financial control and growth criteria for investment

Forward-Looking Statements: Certain statements in this news release may contain
forward-looking information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933,
as amended.  All statements, other than statements of fact, included in this
release, including, without limitation, statements regarding potential future
plans and objectives of the Company, are forward looking statements that involve
risks and uncertainties.  There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.

   For Further Information, contact:
   Web Site:  http://www.petrosearch.com/



Investors:  Greg Noble, Vice President, Corporate Finance, Petrosearch
Corporation; telephone - 713-914-9193; e-mail - .

Media:  A. D. Koen, Petrosearch Corporation; telephone - 713-914-9193; cellular
- 713-294-8728; e-mail -  

DATASOURCE: Petrosearch Corporation



CONTACT:  Investor, Greg Noble, Vice President, Corporate Finance, of

Petrosearch Corporation, [phone], ;

or Media, A. D. Koen of Petrosearch Corporation, [phone],





Web site:  http://www.texascommercial.net/

http://www.petrosearch.com/ 

Copyright