Tidelands Oil & Gas Corporation Press Releases

Tidelands Oil & Gas Corporation (OTCBB: TIDE)

October 11, 2002

TIDE Announces Settlement de Swartz Private Equity Lawsuits

Tidelands Oil & Gas Corporation (BULLETIN BOARD: TIDE) announced today that it has entered into an amicable and mutually agreeable termination agreement and settlement de its lawsuits with Swartz Private Equity, LLC. As part of the settlement, Tidelands will issue 1.2 million shares de common stock to Swartz and Tidelands' financing agreements with Swartz will be terminated. Tidelands management believes that the settlement is in the best interests de the company.

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