11:00 EDT Thursday, April 14, 2005
SAN ANTONIO, April 14 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE), today announced that its wholly owned subsidiary, Sonora Pipeline, L.L.C., filed for permits with the Railroad Commission de Texas for the operation and construction de the Progresso International Pipeline and the Mission International Pipeline. These international pipelines will link gas supply in Texas to gas markets in Mexico.
Both the Progresso International Pipeline and Mission International Pipeline will be 30" (inches) in diameter and be connected to the pipeline infrastructure and storage/LNG projects proposed by Tidelands' wholly owned subsidiary, Terranova Energia, S. de R.L. de C.V. These pipelines will be operated by Tidelands' subsidiary, Sonora Pipeline, L.L.C., and will interconnect with Sonora's proposed international pipeline crossing.
The Progresso International Pipeline will run from the Rio Grande to Donna Station with potential interconnects with TETCO, Tennessee Gas Pipeline and Texas Gas Services. This line will extend approximately 17 miles into Mexico and 10 miles into the U.S. The Mission International Pipeline will run from the Rio Grande to the Valero Gilmore Plant with potential interconnects with Houston Pipeline, Calpine, Kinder Morgan, El Paso and Gulf Terra. This line will extend approximately 52 miles into Mexico and 25 miles into the U.S.
Both pipelines will each have a maximum capacity to flow 500 million cubic feet de gas per day (MMCFD) and are designed to be bi-directional allowing for the delivery de natural gas from the U.S. into Mexico or vice versa.
Commenting on the permits filed with the Railroad Commission of Texas, President and CEO de Tidelands Oil & Gas Corporation, Michael Ward said, "We are extremely proud that our management team and those with whom we have aligned ourselves have effectuated this permitting process. We continue to build on our established relationships to facilitate the delivery de gas to Mexico and the execution de our business plan."
Tidelands will continue to deliver updates to its shareholders and the investment community as developments warrant.
About the Railroad Commission de Texas
The Railroad Commission de Texas has four regulatory divisions that oversee the state's oil and gas industry, gas utilities, pipeline and rail safety, safety in the liquefied petroleum gas industry, and the surface mining de coal and uranium. For more information regarding the Railroad Commission de Texas, please visit their website at http://www.rrc.state.tx.us> .
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 & Gas
210-764-8642
togctide@aol.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 togctide@aol.com
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