- Oct. 31, 2011 - SPICEWOOD, Texas --
Austin, TX – October 31, 2011- Texas Energy Group, LLC (TEG) is pleased to announce their partnering with GulfMark Energy, Inc. (GulfMark- OTC BB: GMEI trading symbol) as the new oil gatherer for wells in Liberty County, Texas. Under GulfMark’s pricing regime, TEG is expected to receive an increase in oil prices, in excess of $10 per barrel over current market pricing. GulfMark is scheduled to make its first gathering from the Liberty County wells in November 2011.
In August 2011, the actual price TEG received for its Liberty County oil sales was $84.15 per barrel. Based on GulfMark’s new pricing, and had it been in effect for August, TEG would have received $96.62 per barrel. Likewise, TEG’s actual price received for September 2011 oil sales was $83.86 per barrel. Again, based on the new pricing regime, TEG would have received $101.56 per barrel from GulfMark, which is a $17.70 price increase per barrel of oil.
“We are very excited about our decision to use GulfMark as the oil gatherer for all of our Liberty County wells. Their new pricing regime will undoubtedly increase TEG’s revenue and profits and ultimately bring higher returns to our investors, which is always of utmost importance,”
stated Waylan Johnson, President of Texas Energy Group, LLC.
For further information regarding topics discussed in this article please contact Texas Energy Group, LLC directly via their Investor Relations Department; (877) 893-6749 or visit them on the web at www.TexasEnergyGroup.com.
Emails may be directed to Info@TexasEnergyGroup.com
Disclaimer: This release/announcement/
document is neither an advertisement, an offer to sell, nor a solicitation of an offer to buy securities, Units or participations of Texas Energy Group, LLC (TEG). This release/document contains certain statements, estimates, and forecasts with respect to future performance and events. All statements other than statements of historical fact included in this release/announcement/
document, a Memorandum, or the TEG website, including, but not limited to, statements regarding future performance of events, are forward-looking statements. All such forward-looking statements are based on various underlying assumptions and expectations and are subject to risks and uncertainties which could cause actual events to differ materially from those expressed in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this release/document, a Memorandum, or the TEG Website will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this release/document, a Memorandum, or the TEG Website might not occur. Accordingly, investors should not rely upon forward-looking statements or historical performance as a prediction or indicator of actual or future results. Also, Texas Energy Group, LLC., its officers, principals, employees, agents, subsidiaries, affiliates and consultants, and the other parties, investors, and partners involved in any properties, programs and TEG activities have conflicts of interests. The price received for the oil and natural gas produced from any investments, activities, properties may be less than quoted NYMEX prices at any given times. TEG does not undertake any obligation to update any forward-looking statements, facts or other information, whether as a result of new information, future events, subsequent circumstances or otherwise. Information herein is not intended to be any form of solicitation. Information found on this page is neither an offer to buy or sell securities or other investments. (xii)
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Texas Energy Group (TEG) is an Austin, TX based Oil & Gas Exploration and Investment Company specializing in multi-well, low risk developmental drilling projects. For Oil & Gas Investment information go to www.TexasEnergyGroup.com or call (877) 893-6749.