TexCom Inc. to Construct Biodiesel Plant in Oklahoma, Receives $6 Million Project Finance Equity Commitment

TexCom Inc. to Construct Biodiesel Plant in Oklahoma, Receives $6 Million Project Finance Equity Commitment
Thursday June 1, 2:25 pm ET

HOUSTON, June 1 /PRNewswire-FirstCall/ -- TexCom, Inc. (OTC Pink Sheets: TEXC - News) today announced that it has received a $6 million project finance equity commitment to expand its Biodiesel operations into the state of Oklahoma. A group led by former University of Oklahoma and Dallas Cowboys Coach Barry Switzer has committed $6 million as the equity component for a Biodiesel plant to be constructed for purposes of serving the diesel fuel needs for the State of Oklahoma.

 

As part of the agreement, Barry Switzer will be retained by TexCom as a consultant and advisor.

Switzer stated, "Over the past few months, we have spent a lot of time with TexCom management and have introduced them to various state executives and legislators in Oklahoma. We feel that bringing TexCom to Oklahoma will provide jobs, a growing market for our agricultural products, and help to reduce our dependence on foreign oil. TexCom's management team is one of the few in the nation that brings practical permitting and large-scale plant construction and operations management to the Biodiesel industry. We've spent several months getting to this point and intend to be in construction by mid November."

Lou Ross, President of TexCom, Inc. stated, "The management team has been in discussions with the Governor and Mr. Switzer since early this year. This equity commitment and the responsiveness of Coach Switzer and the state officials were critical in our decision-making. This administration has proven itself a great advocate for expansion of clean fuels and business. Expanding into Oklahoma is another significant step for TexCom in extending our Biodiesel operations footprint." As previously announced, TexCom has executed a Preliminary Engineering Agreement with Lurgi PSI, based in Memphis, Tennessee, to build a 35 Million gallon per year Biodiesel Plant at the LBC bulk liquids terminal in Seabrook, Texas.

Since joining TexCom as President in December 2003, Dr. Ross has been the guiding force in TexCom's entry into the Biodiesel arena. He has been selected to present at the 2nd Annual Platts Biodiesel Investor Conference in Houston, Texas on Thursday, June 29th at 10:45 CDT. The Platts Biodiesel Conference is the premier forum for the investors to evaluate opportunity and advancement of Biodiesel as an alternative renewable fuel.

For further information on the conference and to register please visit: http://www.platts.com/Events/PC625/

About Biodiesel

Biodiesel is the name of a clean burning alternative fuel, produced from domestic, renewable resources. Biodiesel contains no petroleum, but it can be blended at any level with petroleum diesel to create a Biodiesel blend. It can be used in compression-ignition (diesel) engines with little or no modifications. Biodiesel is simple to use, biodegradable, nontoxic, and essentially free of sulfur and aromatics.

Biodiesel is registered as a fuel and fuel additive with the Environmental Protection Agency (EPA) and meets clean diesel standards established by the California Air Resources Board (CARB). Neat (100 percent) Biodiesel has been designated as an alternative fuel by the Department of Energy (DOE) and the US Department of Transportation (DOT).

About TexCom

TexCom, Inc. is headquartered in Houston, Texas and is an early-stage, growth-oriented company with its primary focus on the production of Bio- Diesel. TexCom also has interests in liquid waste disposal servicing the petrochemical and drilling industries. Additionally, the company is engaged in exploration and production of oil and gas through its wholly owned subsidiary TexCom Partners, LLC.

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.

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