Texhoma Energy, Inc. wins auctions for Royalty Interest on two Texas properties and reports that it has filed two years of au...

SPRING, Texas, Aug. 21, 2014 /PRNewswire/ -- Texhoma Energy, Inc. ("Texhoma") (OTC Pink: TXHE) announced that continuing with its tradition of oil and gas operations, it has embarked on an acquisition plan of oil and gas properties. Through Texhoma's wholly-owned subsidiary, Texhoma Holding Company, it has won two auctions.  The company won high bid for a  0.016589% royalty interest in the Shooter 916 Lease located in Ochiltree County, Texas which has existing oil and gas production and a 0.25% overriding royalty interest in the Tonto North 390 B #3 well located in Scurry County, Texas, which also has existing production.

The effective date for revenue recognition of both acquisitions commences September 1, 2014. Gil Steedley, president of Texhoma, provided the funding for both acquisitions.

Additionally, Texhoma has replaced its previously filed unaudited financial statements on OTC Market for the two years ended September 30, 2013 and September 30, 2012, with audited financial statements for those periods and has also had its auditor review the financial information for the quarters ended June 30, 2014, March 31, 2014, and December 31, 2013 as posted on OTC Market. 

About Texhoma Energy, Inc.

Texhoma Energy, Inc. is engaged in the acquisition, exploration and production of crude oil and natural gas. The company's primary focus has been on south Louisiana and east Texas, including near-shore Gulf of Mexico. With the sale of its Louisiana properties, the company has begun to replenish its oil and gas holdings in accordance with its traditional business model (as described in this press release) as well as seeking non-oil and gas opportunities as they arise.  For further information about Texhoma, please visit www.texhomaenergy.com

This press release may contain forward-looking statements, including information about management's view of Texhoma's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Texhoma, its divisions and concepts to be materially different than those expressed or implied in such statements. The forward-looking statements included in this press release are made only as of the date hereof. Texhoma cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Texhoma undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Texhoma.

SOURCE Texhoma Energy, Inc.

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