TXO (AIM: TXO),the East Texas based independent oil and gas exploration and production company, today announces that the Company will not be in a position to publish its annual accounts by the latest due date of 30 September 2010 and accordingly trading in the Company's shares has been suspended pursuant to AIM Rule 40.
In addition, TXO have changed their year end from 31 March to 30 September. The next period on which the Company report, therefore, will be the eighteen months to 30 September 2010. On publication of these accounts, the shares will be re-admitted to trading.
For further information, please contact:
Andrew Glendinning, Finance Director +1 903 297 2251
Christian Taylor-Wilkinson 07795 168 157
Beaumont Cornish Limited
Roland Cornish 020 7628 3396
Notes to Editors:
TXO plc is an oil and gas exploration and production company focusing on onshore oil wells in the East Texas Oilfield in the United States. The company uses modern working practices and technology (notably submersible pumps) to reopen inactive wells - previously shut down due to low oil prices - and bring them back into production.
Following this sale, the Company owns interests in 70 leases with a total of 308 wells in the East Texas Oilfield. The Company intends to acquire further wells when opportunities arise and market conditions allow. The Company has offices in London and Longview, Texas.
The East Texas Oil Field
The East Texas Oilfield covers 140,000 acres and is located in the east central part of the state. It was discovered in 1930 and is one of the largest and most prolific oil reservoirs in the United States. The field encompasses five counties in North East Texas. It is 45 miles long and 18 miles wide, and has 11,000 existing wells.
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