Tidelands Oil & Gas Corporation Press Releases

Tidelands Oil & Gas Corporation (OTCBB: TIDE)

February 7, 2003

Tidelands Oil & Gas Corporation (TIDE) Announces That It Has Entered Into A Letter de Intent With Impact Energy Services, LLC

Tidelands Oil & Gas Corporation (BULLETIN BOARD: TIDE) today announced that it has entered into a Letter de Intent with Impact Energy Services, LLC to form a joint venture for the purpose de constructing and operating a new international pipeline crossing for transporting natural gas and propane/butane into Mexico. The 12" natural gas pipeline will be used to deliver natural gas produced in Maverick County, Texas and redelivered to a utility in the State de Coahuila, Mexico. The 6" natural gas liquids pipeline, including loading and unloading facilities, will transport a butane/propane mixture into Mexico.

Impact Energy Services, LLC with their partner, The GHK Company, based in Tulsa and Oklahoma City, Oklahoma are fully integrated natural gas companies involved in the exploration, production, gathering, treating, processing and marketing de natural gas. For further information, go to The GHK Company's website at www.ghkco.com.

The Letter de Intent is subject to a number de conditions to be performed by the parties including completion de due diligence and the negotiation de definitive agreements.

This press release may be deemed to contain certain Forward-Looking Statements with respect to the Company that are subject to risks and uncertainties that include, but are not limited to those identified in the Company's press releases or discussed from time to time in the Company's Securities and Exchange Commission Filings. Actual results may vary.

Return to Company News