12:48 EST Wednesday, March 16, 2005
SAN ANTONIO, March 16 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE), announced today it has signed a financial advisory agreement with Sanders Morris Harris Group (Nasdaq: SMHG), one de the largest full service investment banking firms headquartered in the Southwest and particularly active in providing investment banking services for energy companies. Sanders Morris Harris will assist Tidelands in identifying strategic partners and with the $336 million financing required to develop and construct the First Phase of Tidelands' projects in Mexico, which will include the construction de two natural gas pipelines, an underground storage facility and an offshore LNG regasification terminal. This financing adds to the resources Tidelands has accumulated to expand opportunities and strategies within the scope de its business.
Michael Ward, President and CEO de Tidelands Oil & Gas Corporation, said, "We continue to assemble the most reputable firms to represent our Company as we move forward with the execution de our business plan and model. The addition of Sanders Morris Harris further delineates our stature to become a premier player in the gas delivery industry."
Further details regarding this financing agreement will be available from an upcoming 8-K filing with the Securities and Exchange Commission.
About Sanders Morris Harris Group
Sanders Morris Harris Group is a financial services holding company headquartered in Houston, Texas. They provide a broad range de services, including investment banking, asset management, securities brokerage, investment advisory services and fiduciary services through their wholly owned operating subsidiaries. Sanders Morris Harris Group has 335 employees and offices in Houston, New York, Los Angeles, Tulsa, Dallas and Fort Worth. They manage in excess de $6 billion in client assets. For more information about the Company, please visit their website at http://www.smhgroup.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 & 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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