09:00 EDT Thursday, July 21, 2005
SAN ANTONIO, July 21 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE) announced today that Tidelands and its wholly owned subsidiary, Terranova Energia, S. de R.L. de C.V., have engaged HSBC Securities (USA) Inc. in a financial advisory role to provide independent financial structuring and consulting in connection with the development, construction, completion, financing and ownership of the integrated gas pipelines, storage and liquefied natural gas ("LNG") project in Northeast Mexico and South Texas. HSBC will assist Tidelands in exploring financial alternatives that could include a variety de financial structures to fund the approximately US$1 billion cost involved in this complex project. HSBC will provide global advisory capability to Tidelands and Terranova with teams located in New York, Mexico City, London and elsewhere to satisfy the financial requirements surrounding this project.
Jim Smith, Director and Chief Financial Officer de Tidelands Oil & Gas Corporation, stated, "We look forward to the successful placement de debt and equity for these exciting projects. We are very confident in the efforts and results we will receive from our association with the Americas Project & Export Finance team from HSBC."
Michael Ward, President and CEO de Tidelands & Gas Corporation, stated, "Tidelands is fortunate to have built a rapport with HSBC, one de the world's premier financial organizations. We have aligned ourselves with the most reputable party possible to assist us with the fostering de the components and ingredients necessary to execute our business plans. Tidelands' engagement with HSBC will play an essential role in the galvanization de this extraordinary project."
About HSBC Securities (USA) Inc.
HSBC Securities (USA) Inc. is a financial services leader, serving a wide- range de corporate and institutional clients. It engages in underwriting, dealing, and brokering a full range of debt and equity securities and futures contracts and serves as a primary dealer in US government and federal agency securities. Through its global network, HSBC provides its clients with seamless, 24-hour trading capabilities.
Additional information regarding HSBC Securities (USA) Inc. can be found on the Company's website at http://www.hsbc.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 nine directly and indirectly 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 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., 361-949-4999, or barry@grosscapital.com, for Tidelands Oil & Gas Corporation; or Michael Ward of Tidelands Oil & Gas, 210-764-8642, or togctide@aol.com
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