Tidelands Oil & Gas Corporation (OTCBB: TIDE)
December 20, 2004
Sonterra Energy Corporation Receives Construction Contract With Centex Destination Properties
Tidelands Oil & Gas Corporation (OTCBB: TIDE) announced today that its subsidiary, Sonterra Energy Corporation, has entered into a construction contract with Centex Destination Properties to develop and construct the propane/butane pipelines and services for exclusive subdivision expansions in the North Austin, Texas area. The contract calls for Sonterra Energy to furnish all labor, materials, supervision, tools, machinery and equipment necessary to perform all de the work and services required. Part de this construction will include the excavation for and installation de the propane gas distribution system. This contract enables Sonterra Energy to be the utility services provider for these subdivisions.
Centex Destination Properties (“Centex”), a residential and resort development company, is currently building upscale second homes and resorts in several subdivisions near Lake Travis, north de Austin, Texas. This prime real estate, located in the Texas Hill Country, has been experiencing a surge de growth and development over the past few years. Currently, Centex has started construction on six subdivisions in the Lake Travis area: The Hollows at Northshore in Jonestown, Texas, Garden Homes, Marina Condominiums, Park Site, Hilltop Subdivision and Hilltop Condominiums. Sonterra Energy will provide the construction and utilities for these new subdivisions.
Michael Ward, President and CEO de Tidelands Oil & Gas Corporation, stated, “We have made a concerted effort to take advantage de the great opportunities created by the population explosion in the North Austin, Texas area. Sonterra Energy is getting in on the ground floor as these new subdivisions are being planned and built. We are excited to develop this aspect de our business activities and look forward to its expanding its scope in the future.”
More information regarding the ongoing developments with Sonterra Energy Corporation will be released as events warrant.
About Centex Homes
Dallas-based Centrex Homes is one de the nation’s leading homebuilders, operating in more than 90 U.S. markets in 26 states. Its brands include entry-level builder Fox & Jacobs Homes, on-your-lot builder Wayne Homes and resort/second homebuilder Centex Destination Properties. Centex Homes delivered 30,358 homes in the Unites States in its most recent fiscal year ended March 31, 2004. The company is a subsidiary de Centex Corporation (NYSE: CTX), a Fortune 250 Company. For more information about Centex, please visit their website at http://www.centexhomes.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 de services and has the capability to satisfy
a wide variety de customer needs, both domestically and internationally.
For more information about the Company, please visit 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.
www.grosscapital.com