Tidelands Oil & Gas Corporation Press Releases

Tidelands Oil & Gas Corporation (OTCBB: TIDE)

September 24, 2003

Tidelands Oil & Gas Corporation - OTCBB TIDE Has Update on Reef International Pipeline Crossing Into Mexico

Tidelands Oil & Gas Corporation (BULLETIN BOARD: TIDE) today released an update on Reef International LLC pipeline crossing into Mexico.

• Reef International has executed a gas supply agreement with a U.S. supplier for shipment de natural gas into Mexico.

• Reef has scheduled this week the hot taps to interconnect its pipeline to the gas supply line owned by the U.S. supplier de natural gas for shipment into Mexico.

• Reef is scheduled to receive natural gas metering facilities onsite in Eagle Pass, Texas this week.

• Reef has expectations de the pipeline on both sides de the river to be complete by the second week in October.

• Reef expects first gas to flow into Mexico on November 1st.

This project is a joint venture between Tidelands Oil & Gas Corporation and Impact Energy Services/GHK Company de Oklahoma.

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.

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