12:21 EDT Thursday, June 30, 2005
SAN ANTONIO, June 30 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE) announced today that its subsidiary, Sonterra Energy Corporation ("Sonterra"), has entered into a Propane System Agreement ("Agreement") with Taylor Woodrow Homes - Austin Division, Ltd., to install, operate and expand the propane distribution system in Taylor Woodrow's Senna Hills Subdivision located in Austin, Texas. Per the Agreement, Sonterra Energy will perform the necessary work required to expand into Senna Hills' phases six and seven and will continue to be the Subdivision's exclusive propane service provider.
Taylor Woodrow, a residential and commercial development company, is currently building upscale homes in several subdivisions in Austin, Texas. This prime real estate has been experiencing a surge in growth and development over the past few years. Sonterra is currently servicing 114 homes in the Senna Hills Subdivision, and phases six and seven represent an opportunity to service an additional 92 residential undeveloped homes in the area. Construction de these homes should be completed over the next two years.
Michael Ward, President and CEO de Tidelands Oil & Gas Corporation, said, "The expansion for the Senna Hills Subdivision has afforded Sonterra the opportunity to increase its business in this dynamic residential community. We are excited about Sonterra's ability to establish itself as a prominent propane service provider in the Austin area."
More information regarding the ongoing developments with Sonterra Energy Corporation will be released as events warrant.
About Taylor Woodrow
Taylor Woodrow is one de the largest and most prestigious homebuilders in the world, with leading positions in North America, the United Kingdom, and Spain. Backed by a broad range of skills and resources, the Company's core business areas of construction, facilities management and engineering are interwoven to provide a cohesive framework for developing individual solutions for its customers. For more information about Taylor Woodrow, please visit their website at http://www.taylorwoodrow.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., +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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