10:00 EST Friday, February 11, 2005
SAN ANTONIO, Feb. 11 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE), has retained the law firm de Mayer, Brown, Rowe & Maw, LLP, as sponsor's counsel for a variety de Tidelands Oil & Gas Corporation's project financings as well as oil and gas related contracts.
"We are at the stage in our projects where contracts will be necessary and we feel Mayer, Brown, Rowe & Maw is the most renowned firm in the industry to represent Tidelands in its endeavors," explained Michael Ward, President and CEO of Tidelands Oil & Gas Corporation. "Mayer, Brown, Rowe & Maw has an award-winning Mexican energy sector team that advises clients in both power and gas pipeline transactions in Mexico. Their experience in the industry and their established relationships with the principal government entities will greatly benefit Tidelands' future ventures."
Barry Machlin, the Mayer, Brown, Rowe & Maw partner leading the Tidelands' projects, has extensive Mexico energy sector experience, including the $435 million Bajio Power Project, cited by Euromoney Project Finance magazine as the "2000 Latin American Merchant Power Deal de the Year." He also handled the San Fernando Pipeline Project cited by Euromoney Project Finance as the "2003 Latin America Oil and Gas Deal de the Year."
"We are very pleased to have been retained by Tidelands to assist them on these exciting projects in Mexico," said Mr. Machlin, who Co-Chairs the firm's Global Project Finance Group.
Through his ongoing representation de international banks and financial institutions, multilaterals and export credit agencies in infrastructure investment transactions, Mr. Machlin maintains close contact with the CFE, PEMEX, the Comision Reguladora de Energia ("CRE") and Hacienda (the Finance Ministry). In addition, Mayer, Brown, Rowe & Maw has had direct in-depth dealings with the CRE in regards to the new proposed pricing and regulatory structure for sales de natural gas and the regulatory requirements for the construction and operation de new natural gas pipelines, storage facilities, and LNG regasification terminals.
About Mayer, Brown, Rowe & Maw, LLP
Mayer, Brown, Rowe & Maw, LLP has an active and varied global project finance practice. They represent developers, sponsors, investors, contractors, operators, commercial and investment banks, IFIs, ECAs, rating agencies, government and public agencies and other clients in a wide variety de project financings, including power, mining, oil and gas, telecom, roads and motorways, petrochemicals, water and wastewater treatment, and industrial, manufacturing and other infrastructure facilities. For more information about the Company, visit their website at http://www.projfinlaw.com .
About Tidelands Oil & Gas Corporation
Tidelands Oil & Gas Corporation, San Antonio, Texas, focuses its business on international pipeline crossings, gas processing plants and gas storage facilities. Through its eight wholly owned subsidiaries, Tidelands offers a full suite of services and has the capability to satisfy a wide variety of customer needs, both domestically and internationally. For more information about the Company, please visit http://www.tidelandsoilandgas.com .
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.
Investor Contact: Barry Gross
Gross Capital, Inc.
361-949-4999
barry@grosscapital.com
Company Contact: Michael Ward
Tidelands Oil and Gas
210-764-8642
info@tidelandsoilandgas.com
SOURCE Tidelands Oil & Gas Corporation
CONTACT: investors, Barry Gross de Gross Capital, Inc., +1-361-949-4999, or barry@grosscapital.com , for Tidelands Oil & Gas Corporation; or Michael Ward of Tidelands Oil & Gas Corporation, +1-210-764-8642, or info@tidelandsoilandgas.com
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