Update: Texhoma Energy, Inc. - It's Only A Day Away

A new round of spam is circulating, courtesy of the anonymous shills who have been touting Texhoma Energy, Inc. (Pink Sheets: TXHE).  And, once again, the promoters claim to have access to a company press release that will not be released until tomorrow, October 20, 2006.  As we pointed out just yesterday, the spammers have tried this ruse before.  See, Texhoma Energy, Inc. - Predicting the Future.

In a transparent effort to suggest a semblance of legitimacy, the e-mail warns readers that "the information mentioned herein has not been released to the general public and should be kept confidential until its scheduled announcement on Friday, October 20."

That admonition is followed by a purported press release from the Company, dated October 20, 2006.  According to that "press release," the Company has discovered "an oil reservoir which far exceeded our initial expectations" at its "Clovely site."  The "press release" goes on to say that "recoverable reserves are estimated at "2 mil barrels," and "revenue from production is estimated to be worth $120 mil."

An August 4, 2006 press release issued by Texhoma referred to drilling in an area called the "Clovelly South prospect," in Louisiana – but that announcement made no revenue projections that foreshadowed today's prescient "press release."

In other news, Texhoma did issue a press release on August 19, 2006 saying that it had acquired a 25% interest in something called the "Bayou Choctaw Project."  The August 19^th press release did not contain any revenue projections for the Bayou Choctaw project or any other venture – including Clovelly. 

The August 19^th press release advised investors to beware of promoters issuing unauthorized information about the Company, with the following statement:

It has come to the attention of Texhoma's management that information is being distributed about Texhoma by third parties that is not authorized, sanctioned or paid for by the Company. Texhoma cautions investors not to rely on such information and we encourage investors and shareholders to visit the Company's website, or to the SEC website of  http://www.sec.gov/ to review the company's filings, for accurate information on the Company.

Today's spam e-mails would be a case in point - but the aggressive promotion appears to be having a decided effect.  Almost 5.6 million Texhoma shares were traded on October 19th, up from 3.1 million shares on October 18th, 1 million shares on October 17th - and fewer than 7000 shares on October 11th.

So we have one question for the promoters.  If Texhoma is a "great opportunity" (their words, not ours), who is dumping all of that stock?

IF YOU HAVE QUESTIONS OR COMMENTS FOR STOCKPATROL.COM, CONTACT US AT editor@stockpatrol.com