Texhoma Divests BSP and is Preparing Revised Financials

Texhoma Energy, Inc. ("Texhoma") (PINK SHEETS:TXHE) 
wishes to inform its shareholders that it has divested its 
shareholding in Black Swan Petroleum (BSP). BSP conducted, for its 
joint venture partners, the drilling operations in Thailand which 
were unsuccessful in March 2005. The Company had announced in its 
10-QSB report, for the quarterly period ended June 30, 2005 that it 
had written off the investment in BSP and would no longer be 
participating in exploration in Thailand but instead focus on 
business opportunities in the US, in particular Texas and Louisiana. 
The shares in BSP were divested for no consideration, effective 
December 31, 2005.

   As per the Company's previous announcement made on August 25, 
2005 in relation to its trading status the Company is now preparing 
revised financials, which provide information on BSP as has been 
required by the SEC.

   Until such time, the Company will remain on the "Pink Sheets". 
The Company intends to apply for re-quotation on the OTC-BB after 
filing such statements and assuming the SEC accepts such financial 
statements and related filings, expects such re-quotation to take 
approximately 3 months.

   For further information, please contact the undersigned.

   Texhoma Energy, Inc.

   Frank A. Jacobs, Executive Chairman

   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."



   Texhoma Energy, Inc. (PINK SHEETS:TXHE)