AUSTIN, Texas, Jan. 28 /PRNewswire/ -- Effective immediately, Texas American Resources Company (the "Company") announced today that the Company has moved its corporate headquarters in Austin, Texas. Relocated to 401 Congress Avenue in the Frost Bank Tower, the rent neutral move allows the Company to relocate all employees to the same floor. Company CEO, David Honeycutt, said, "Our move was possible because we are working with the same landlord. As a result, we were able to cancel our old lease agreement and design a more efficient layout which will allow us to reside on one floor and make Frost Tower our home for many years to come."
All inquiries should be directed to Karen White, Office Manager, Texas American Resources Company, 401 Congress Avenue, Suite 1600, Austin, Texas 78701.
ABOUT TEXAS AMERICAN RESOURCES COMPANY
Texas American Resources Company ("TARC") is a privately-held, independent energy company headquartered in Austin, Texas. Since its founding in 1990, TARC has focused on the acquisition and exploitation of proved or near proved properties in the Mid-Continent, Gulf Coast and Rocky Mountain regions of the United States.
TARC operates approximately 400 wells in Texas, Wyoming and Colorado. The Company's total proved reserve base of approximately 32 MMBOE is 37% developed and 43% oil. The company-wide total net production of approximately 3,400 equivalent barrels of oil per day is 45% oil.
LEGAL DISCLOSURE: Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, particularly any express or implied statements concerning future financial condition or operating results. Although Management believes that the expectations reflected herein are reasonable, the matters discussed in this release involve risks, uncertainties, and other factors that may delay, prevent or adversely affect the transaction or the Company's planned activities and operations. There can be no assurance that such expectations will prove correct. All forward-looking statements are expressly qualified by this cautionary statement.
