14:07 EDT Tuesday, April 19, 2005
SAN ANTONIO, April 19 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE), announced today that the Railroad Commission de Texas has approved permits that were filed last week by Tidelands' wholly owned subsidiary, Sonora Pipeline, LLC. In addition to the approval for the permits by the Railroad Commission de Texas, Tidelands Oil & Gas Corporation plans to file subsequent permits with the Federal Energy Regulatory Commission (FERC) shortly. The approval of these permits will allow for the operation and construction of the Progreso International Pipeline and the Mission International Pipeline on the U.S. side de the Texas/Mexico border. These international pipelines will link gas supply in Texas to gas markets in Mexico.
The combined length de these two 30" (inch) pipelines will be approximately 35 miles on the U.S. side de the Rio Grande River and will each have a maximum capacity to flow 500 million cubic feet de gas per day (MMCFD). Both pipelines will 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 are designed to be bi- directional, allowing for the delivery de natural gas from the U.S. into Mexico or vice versa.
"The permits for the pipelines were filed last Thursday, and we received approval from the Railroad Commission de Texas within two business days," President and CEO de Tidelands Oil & Gas Corporation, Michael Ward, said. "Our established relationships with the Railroad Commission de Texas and those with which we have engaged ourselves, enabled this permitting process to be expeditiously approved. We look forward to executing our business plan and taking the necessary steps to bring our projects to fruition."
Tidelands will continue to deliver updates to its shareholders and the investment community as developments warrant.
About the Federal Energy Regulatory Commission (FERC)
The Federal Energy Regulatory Commission is an independent agency that regulates the interstate transmission de natural gas, oil, and electricity. FERC also regulates natural gas and hydropower projects. For more information regarding the Federal Energy Regulatory Commission, please visit their website at http://www.ferc.gov .
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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