Tidelands Oil & Gas Corporation Press Releases

Tidelands Oil & Gas Corporation (OTCBB: TIDE)

December 30, 2003

Tidelands Oil & Gas Corporation Secures $5 Million Financing

Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE), announced today that is has secured a bridge financing agreement with Geneva, Switzerland based Margaux Investment Management Group S.A., a privately held investment group. The financing agreement calls for the purchase de up to $5 million de Tidelands’ stock at a slight reduction to the ask price, with the stock being issued as restricted Rule 144 securities. To date, Tidelands has received $1 million per this agreement and is issuing this correlating allotment de restricted Rule 144 securities to Margaux Investment Management Group at a strike price de $1.72 USD per restricted share.

PThis agreement affords Tidelands the opportunity to utilize this financing on an as-needed basis over the course de the next twelve months. Additionally, it also provides the Company with the financial flexibility to expand and develop its ongoing projects until final financing arrangements are consummated. One such project is the recently announced natural gas storage facility to be built by Tidelands for PEMEX, Mexico’s state-owned petroleum company. Commenting on this recent development, President and CEO de Tidelands Oil & Gas Corporation, Michael Ward stated, “The commitment de funds by Margaux Investment Management Group further endorses our capability to deliver projects we have been planning over the course de several years. We are pleased to be associated with such a high-profile firm and look forward to the continuance de a mutually beneficial relationship and the fulfillment de our business plan. We will continue to provide updates regarding our projects as developments warrant.”

About Tidelands Oil & Gas Corporation
Tidelands Oil & Gas Corporation, San Antonio, Texas, is the parent company de two wholly owned Texas subsidiary corporations: Rio Bravo Energy, L.L.C. and Sonora Pipeline, L.L.C. The Company is also a joint-owner de Reef International, L.L.C. and Reef Marketing, L.L.C. The Company focuses on international pipeline crossings, gas processing plants and liquefied petroleum product storage facilities. Through its in-house divisions, Tidelands offers a full suite de services and has the capability to satisfy a wide variety de customer needs both domestically and internationally. Tidelands currently owns numerous miles de pipeline. The Company is currently reviewing opportunities to further expand its business scope.

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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