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[Plusquamperfekt]

Texola Energy Provides Update on Chinchaga Prospect in Northern Alberta
Texola Energy Corp. (\\\'Texola\\\' or the \\\'Company\\\') (OTCBB:TXLA) is pleased to report that drilling on the Chinchaga well (8-24-95-8W6) will commence by December 15, 2006 and will take approximately 18 days to reach final depth. Texola Energy owns a 10% interest in Suncor Energy\\\'s Chinchaga prospect in Northern Alberta, with Eden Energy Corp. holding a 50% position and Suncor retaining a 12.5% gross overriding royalty.

The parties have also identified the drill locations for their second and third wells, both of which are expected to be drilled before spring break up 2007. In addition, the Operator of the prospect is proceeding to survey the pipeline location for future tie in of the wells.

We look forward to providing updates on this very exciting prospect once we are in receipt of the same.

About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large scale, early stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.

Notice Regarding Forward Looking Statements

This news release contains \"forward-looking statements,\" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and Texola assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Texola believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Texola\\\'s periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.


Texola Energy Corp.
Gordon Nesbitt, 866-329-5488 (Investor Relations)
Email: [e-mail]



Source: Business Wire (August 10, 2006 - 1:28 AM EDT)

News by QuoteMedia

[Yatt]

Antwort auf Beitrag Nr.: 23.380.355 von Plusquamperfekt am 10.08.06 09:42:47

Super News - Kurziel Tausend!

Yatt

[Plusquamperfekt]

Antwort auf Beitrag Nr.: 23.380.469 von Yatt am 10.08.06 09:46:34

Hab ich was von Super News geschrieben

Interessante News sinds

[Penny.Z]

Antwort auf Beitrag Nr.: 23.380.703 von Plusquamperfekt am 10.08.06 09:56:09

Wie mans macht macht man es eben verkehrt.

Lass sie doch machen.

[Plusquamperfekt]

Mehr als ca. 0,56 Euro würd ich eh nicht bezahlen

[Plusquamperfekt]

Antwort auf Beitrag Nr.: 23.380.824 von Plusquamperfekt am 10.08.06 10:01:25

Xetra 0,59 aktuell

Das ist zuviel - der Kurs kommt sicher zurück

[Plusquamperfekt]

... also bitte nicht blind kaufen

[bioperformer]

...wie, jetzt sollen alle möglichst nicht kaufen - um dann, wenn die Amis angenommen mit einem deutlichen Kursplus eröffnen (...vermutlich wird das genau so sein..) den Kursen deutlich über 60 Cent hinterherzurennen?

....schöne Logik - nur nicht nachvollziehbar...

[CaesarPalace]

Antwort auf Beitrag Nr.: 23.382.432 von bioperformer am 10.08.06 11:27:50

Verstehe diese Logik auch nicht ganz
Jetzt kann man doch noch gündtige Stücke bekommen

[CaesarPalace]

Antwort auf Beitrag Nr.: 23.382.807 von CaesarPalace am 10.08.06 11:53:27

günstige Stücke meinte ich

[bioperformer]

Antwort auf Beitrag Nr.: 23.382.807 von CaesarPalace am 10.08.06 11:53:27

...eben...sag ich doch...

Gruß an die Texolas

[CaesarPalace]

Antwort auf Beitrag Nr.: 23.383.030 von bioperformer am 10.08.06 12:05:35

Schau mal:

Kursdaten Frankfurt
Realtime:
11:55:33 0,59 +13,46%
+0,07
Taxe Stück
Bid: 12:15:27 0,55 2.410
Ask: 12:15:27 0,60 21.194

[Pennystock777]

Form 10QSB for TEXOLA ENERGY CORP


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14-Aug-2006

Quarterly Report



Item 2. Management's Discussion and Analysis or Plan of Operation.
FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled "Risk Factors", that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our consolidated unaudited financial statements are stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles. The following discussion should be read in conjunction with our consolidated unaudited financial statements and the related notes that appear elsewhere in this quarterly report.

In this quarterly report, unless otherwise specified, all references to "common shares" refer to common shares in the capital of our company and the terms "we", "us" and "our" mean Texola Energy Corporation.

Corporate History

We were incorporated pursuant to the laws of the State of Nevada on October 14, 2003 under the name Sound Technology, Inc. On September 29, 2005, we incorporated a wholly-owned Nevada subsidiary for the sole purpose of effecting a name change through a merger with our subsidiary. On October 24, 2005, we merged our subsidiary with and into our company, with our company continuing on as the surviving corporation under the name Texola Energy Corporation.

Our principal business office is located at Suite 206 - 475 Howe Street, Vancouver, British Columbia, Canada V6C 2B3. Our registered office for service in the State of Nevada is located at Suite 300, 7251 West Lake Mead, Las Vegas, Nevada. The name change was effected with NASDAQ on November 7, 2005 and our common shares became quoted on the OTC Bulletin Board on November 7, 2005 under the new stock symbol of "TXLA".

From our incorporation until November, 2005, we were an audio component retailer. We supplied audio products to the audio do-it-yourself and original equipment manufacturer markets. We retailed and distributed components to the original equipment manufacturer market and the end user of the purchased product who may wish to construct, upgrade or replace their existing audio equipment.

As management investigated opportunities and challenges in the business of audio retail and distribution, management realized that the business did not present the best opportunity for our company to realize value for our shareholders. As a result, our company decided to abandon the audio retail and distribution business and sell all of the issued and outstanding shares of our wholly-owned subsidiary.

On November 16, 2005, we entered into a share purchase agreement among our company, Raymond Li, Simon Au, and Patrick Fung. Pursuant to the terms of the share purchase agreement, we agreed to sell all of the issued and outstanding shares in the capital of Audiyo, Inc., our wholly-owned operating subsidiary, to Mr. Li, Mr. Au and Mr. Fung in exchange for: (i) the return and cancellation of all shares of our company held by such individuals; and (ii) the waiver and forgiveness of any outstanding amounts owed by our company to the three individuals. On January



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5, 2006, our company transferred the Audiyo shares to Raymond Li, Patrick Fung and Simon Au, who were each former affiliates of our company. Raymond Li, a former director of our company, tendered 40,500,000, or approximately 45%, of the shares of our company for cancellation. Patrick Fung, a former director of our company, tendered 20,000,000, or approximately 22%, of the shares of our company for cancellation. Simon Au, a former director of our company, did not hold any shares in our company as of the closing of the share purchase agreement.
Current Business

We are an exploration stage company engaged in the acquisition of prospective oil and gas properties. Following the change in our business, we conducted due diligence on potential acquisitions of suitable oil and gas properties. As a result of the due diligence period, we entered into three arrangements to acquire the oil and gas interests in the following locations: (i) Brown County, Kansas, United States; (ii) Maverick Spring Prospect, Nevada, United States; and
(iii) Chinchaga Prospect, Alberta, Canada.

In addition to the exploration and development of our existing three property interests, we intend to acquire additional oil and gas interests in the future. Management believes that the future growth of our company will primarily occur through the acquisition of additional oil and gas properties following extensive due diligence by our company. However, we may elect to proceed through collaborative agreements and joint ventures in order to share expertise and reduce operating costs with other experts in the oil and gas industry.

The analysis of new property interests will be undertaken by or under the supervision of our management and board of directors. Although the oil and gas industry is currently very competitive, management believes that many undervalued prospective properties remain available for acquisition purposes.


RESULTS OF OPERATIONS

Three Months ended June 30, 2006

As of June 30, 2006, our company had cash of $104,391 and a working capital
deficiency of $5,123. We estimate our operating expenses and working capital
requirements for the next twelve period to be as follows:

Estimated Expenses for the Next Twelve Month Period
Operating Expenses
Acquisition Costs $ 800,000
Exploration Costs $ 300,000
Employee and Consultant Compensation $ 300,000
Professional Fees $ 100,000
General and Administrative Expenses $ 15,000
Total $ 1,515,000




Acquisition Costs

We anticipate incurring acquisition costs relating to our Maverick Springs prospect pursuant to our obligations under the Participation Agreement with Chamberlain Exploration Development and Research Stratigraphic Corporation, doing business as Cedar Strat Corporation. In accordance with the terms of the Participation Agreement, we have agreed to pay to Cedar Strat the sum of $10.00 per acre as a "prospect fee". The total number of acres acquired by our company was in excess of 110,000 acres and thus the maximum prospect fee payable to Cedar Strat is $1.1 million. The term of the Participation Agreement is for ten years from April 3, 2006, the date we acquired the leases in the property area for $518,330.

We paid Cedar Strat a deposit of $100,000 on or about March 3, 2006, when we entered into the Participation Agreement. We made an additional payment of $200,000 on or about March 24, 2006, a payment of $100,000 on May 5, 2006 and a further payment of $300,000 on June 7, 2006. The balance of the prospect fee of $400,000 is payable as follows: (a) $100,000 within 30 days of delivery of a gravity model coinciding with the structural cross section delivered as part of the base prospect fee; (b) an additional $200,000 within 30 days of delivery of a second



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structural cross section with accompanying gravity model; and (c) $100,000 at the time of well permitting. We do not anticipate that the items set out in (b) and (c) above will be required until after December 31, 2006, but such amounts have been included for budgeting purposes.
We also anticipate incurring acquisition costs relating to our Chinchaga well. We hold a 10% working interest in the Chinchaga 8-24-95-8-W6M well held by Suncor Energy Inc., in the Chinchanga area of Alberta, Canada. We have fully paid our portion of the authorization for expenditure received from Tasman Exploration Ltd., the operator of the well, and we do not expect to incur any additional expenditures in respect of the drilling of the well once drilling is resumed in winter 2006.

Exploration Costs

We anticipate incurring exploration costs relating to our Maverick Springs prospect. Under our Participation Agreement with Cedar Strat, and in consideration of the prospect fee paid by our company, Cedar Strat has agreed to conduct exploration on behalf of our company. More specifically, Cedar Strat agreed to conduct an initial gravity model coinciding with the structural cross section and a second more detailed structural cross section with accompanying gravity modelling. We may conduct additional gravity and seismic studies on the property upon our receipt of such information from Cedar Strat. Although $400,000 has been budgeted for 2006, we do not expect that any such programs will be completed in advance of our receipt of the gravity and structural data from Cedar Strat.

We also anticipate incurring exploration costs relating to our Chinchaga well. We hold a 10% working interest in the Chinchaga 8-24-95-8-W6M well held by Suncor Energy in the Chinchanga area of Alberta, Canada. We have paid our portion of the authorization for expenditure received from Tasman Exploration, the operator of the well, and we do not expect to incur any additional expenditures in respect of the drilling of the well once drilling is resumed in winter 2006.

Employee and Consultant Compensation

Given the early stage of our development and exploration properties, we intend to continue to outsource our professional and personnel requirements by retaining consultants on an as needed basis.

We estimate that our consultant compensation expenses for the next twelve month period will be approximately $300,000.

Professional Fees

We expect to incur on-going legal expenses to comply with our reporting responsibilities as a public company under the United States Securities Exchange Act of 1934, as amended. We estimate our legal and accounting expenses for the next twelve month period to be approximately $100,000.

General and Administrative Expenses

We anticipate spending $15,000 on general and administrative costs in the next twelve month period. These costs primarily consist of expenses such as office supplies and office equipment.

Trends and Uncertainties

Our ability to generate revenues in the future is dependent on whether we successfully explore and develop our current property interests or any property interests that we may acquire in the future. We cannot predict whether or when this may happen and this causes uncertainty with respect to the growth of our company and our ability to generate revenues.



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Financing
To date, we have had negative cash flows from operations and we have been dependent on sales of our equity securities and debt financing to meet our cash requirements. We expect this situation to continue for the foreseeable future. We anticipate that we will have negative cash flows during the next twelve month period.

We incurred a loss of $291,299 for the three month period ended June 30, 2006 compared to a loss of $9,648 for the three month period ended June 30, 2005. As of June 30, 2006, we had a working capital deficiency of $5,123 compared to a working capital of $143,345 as of December 31, 2005. We issued an 8% convertible debenture on May 10, 2006 in the principle amount of $300,000. Pursuant to the terms of the convertible debenture, the holder may convert all or any part of the principal outstanding plus any accrued interest into shares of our common stock at a conversion price per share equal to the lower of $1.00 or the closing price of our common shares on the date of conversion as listed on a principal market as quoted by Bloomberg LP. As indicated above, our estimated working capital requirements and projected operating expenses for the next twelve month period total $1,515,000. As we had cash of $104,391 as at June 30, 2006, we will be required to raise additional funds through the issuance of equity securities or through debt financing in order to cover our estimated operating expenses during the next twelve month period. There can be no assurance that we will be successful in raising the required capital or that actual cash requirements will not exceed our estimates. We intend to fulfil any additional cash requirement through the sale of our equity securities.

Given that we are an exploration stage company and have not generated revenues to date, our cash flow projections are subject to numerous contingencies and risk factors beyond our control, including exploration and development risks, competition from well-funded competitors, and our ability to manage growth. We can offer no assurance that our company will generate cash flow sufficient to meet our cash flow projections or that our expenses will not exceed our projections. If our expenses exceed estimates, we will require additional monies during the next twelve months to execute our business plan.

There are no assurances that we will be able to obtain funds required for our continued operation. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain additional financing on a timely basis, we will not be able to meet our other obligations as they become due and we will be forced to scale down or perhaps even cease the operation of our business.

There is substantial doubt about our ability to continue as a going concern as the continuation of our business is dependent upon obtaining further long-term financing, successful exploration and development of our property interests and, finally, achieving a profitable level of operations. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2006, we had cash of $104,391 and $124,544 in current liabilities. The current liabilities primarily consisted of accounts payable, accrued liabilities, interest payable and loans payable. We had a working capital deficiency of $5,123 as of June 30, 2006.

On May 10, 2006, we issued an 8% convertible debenture for proceeds of $300,000. We will be required to raise additional funds through the issuance of debt or equity securities in order to cover our estimated operating expenses for the next twelve month period. There can be no assurance, however, that we will be successful in raising the required capital or that actual cash requirements will not exceed our estimates.

Capital Expenditures

As of June 30, 2006, our company did not have any material commitments for capital expenditures and management does not anticipate that our company will spend additional material amounts on capital expenditures during the next twelve month period.



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Off-Balance Sheet Arrangements
Our company has no outstanding derivative financial instruments, off-balance sheet guarantees, interest rate swap transactions or foreign currency contracts. Neither our company nor our operating subsidiary engages in trading activities involving non-exchange traded contracts.

Critical Accounting Policies

The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures of our company. Although these estimates are based on management's knowledge of current events and actions that our company may undertake in the future, actual results may differ from such estimates.

Going Concern

The audited financial statements included with our annual report filed with the Securities and Exchange Commission on April 17, 2006 have been prepared on the going concern basis which assumes that adequate sources of financing will be obtained as required and that our assets will be realized and liabilities settled in the ordinary course of business. Accordingly, the audited financial statements do not include any adjustments related to the recoverability of assets and classification of assets and liabilities that might be necessary should we be unable to continue as a going concern.

In order to continue as a going concern, we require additional financing. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to continue as a going concern, we would likely be unable to realize the carrying value of our assets reflected in the balances set out in our financial statements.

New Accounting Pronouncements

Effective January 1, 2006, our company adopted the provisions of Statement of Financial Accounting Standards ("SFAS") No. 123(R), "Share-Based Payment", which establishes accounting for equity instruments exchanged for employee services. Under the provisions of SFAS 123(R), stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employees' requisite service period (generally the vesting period of the equity grant). Before January 1, 2006, our company accounted for stock-based compensation to employees in accordance with Accounting Principles Board Opinion No. 25, "Accounting for Stock Issued to Employees," and complied with the disclosure requirements of SFAS No. 123, "Accounting for Stock-Based Compensation". Our company adopted FAS 123(R) using the modified prospective method, which requires our company to record compensation expense over the vesting period for all awards granted after the date of adoption, and for the unvested portion of previously granted awards that remain outstanding at the date of adoption. Accordingly, financial statements for the periods prior to January 1, 2006 have not been restated to reflect the fair value method of expensing share-based compensation. Adoption of SFAS No. 123(R) does not change the way our company accounts for share-based payments to non-employees, with guidance provided by SFAS 123 (as originally issued) and Emerging Issues Task Force Issue No. 96-18, "Accounting for Equity Instruments That Are Issued to Other Than Employees for Acquiring, or in Conjunction with Selling, Goods or Services".

In December 2004, FASB issued SFAS No. 153, "Exchanges of Nonmonetary Assets - An Amendment of APB Opinion No. 29". The guidance in APB Opinion No. 29, "Accounting for Nonmonetary Transactions", is based on the principle that exchanges of nonmonetary assets should be measured based on the fair value of the assets exchanged. The guidance in that Opinion, however, included certain exceptions to that principle. SFAS No. 153 amends Opinion No. 29 to eliminate the exception for nonmonetary exchanges of similar productive assets and replaces it with a general exception for exchanges of nonmonetary assets that do not have commercial substance. A nonmonetary exchange has commercial substance if the future cash flows of the entity are expected to change significantly as a result of the exchange. The provisions of SFAS No. 153 are effective for nonmonetary asset



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exchanges occurring in fiscal periods beginning after June 15, 2005. Early application is permitted and companies must apply the standard prospectively. The adoption of this standard is not expected to have a material effect on our company's results of operations or financial position.
In May 2005, the FASB issued SFAS No. 154, "Accounting Changes and Error Corrections," which replaces APB Opinion No. 20, "Accounting Changes," and supersedes FASB Statement No. 3, "Reporting Accounting Changes in Interim Financial Statements - an amendment of APB Opinion No. 28." SFAS 154 requires retrospective application to prior periods' financial statements of changes in accounting principle, unless it is impracticable to determine either the period-specific effects or the cumulative effect of the change. When it is impracticable to determine the period-specific effects of an accounting change on one or more individual prior periods presented, SFAS 154 requires that the new accounting principle be applied to the balances of assets and liabilities as of the beginning of the earliest period for which retrospective application is practicable and that a corresponding adjustment be made to the opening balance of retained earnings for that period rather than being reported in an income statement. When it is impracticable to determine the cumulative effect of applying a change in accounting principle to all prior periods, SFAS 154 requires that the new accounting principle be applied as if it were adopted prospectively from the earliest date practicable. SFAS 154 shall be effective for accounting changes and corrections of errors made in fiscal years beginning after December 15, 2005. We do not expect the provisions of SFAS 154 will have a significant impact on our results of operations.

In February 2006, the FASB issued SFAS No. 155, "Accounting for Certain Hybrid Financial Instruments, an amendment of FASB Statements No. 133 and 140." This statement permits fair value re-measurement for any hybrid financial instrument that contains an embedded derivative that otherwise would require bifurcation. It establishes a requirement to evaluate interests in securitized financial assets to identify interests that are freestanding derivatives or that are hybrid financial instruments that contain an embedded derivative requiring bifurcation. In addition, SFAS 155 clarifies which interest-only strips and principal-only strips are not subject to the requirements of Statement 133. It also clarifies that concentrations of credit risk in the form of subordination are not embedded derivatives. SFAS 155 amends Statement 140 to eliminate the prohibition on a qualifying special-purpose entity from holding a derivative financial instrument that pertains to a beneficial interest other than another derivative financial instrument. This Statement is effective for all financial instruments acquired or issued after the beginning of an entity's first fiscal year that begins after September 15, 2006. The adoption of this standard is not expected to have a material effect on our company's results of operations or financial position.

In March 2006, the FASB issued SFAS 156, "Accounting for Servicing of Financial Assets-an amendment of FASB Statement No. 140". This statement amends FASB Statement No. 140, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities", with respect to the accounting for separately recognized servicing assets and servicing liabilities. This statement: (1) requires an entity to recognize a servicing asset or servicing liability each time it undertakes an obligation to service a financial asset by entering into a servicing contract in any of the following situations: (a) a transfer of the servicer's financial assets that meets the requirements for sale accounting, (b) a transfer of the servicer's financial assets to a qualifying special-purpose entity in a guaranteed mortgage securitization in which the transferor retains all of the resulting securities and classifies them as either available-for-sale securities or trading securities in accordance with FASB Statement No. 115, "Accounting for Certain Investments in Debt and Equity Securities", (c) an acquisition or assumption of an obligation to service a financial asset that does not relate to financial assets of the servicer or its consolidated affiliates; (2) requires all separately recognized servicing assets and servicing liabilities to be initially measured at fair value, if practicable; (3) permits an entity to choose either of the following subsequent measurement methods for each class of separately recognized servicing assets and servicing liabilities: (a) Amortization method-Amortize servicing assets or servicing liabilities in proportion to and over the period of estimated net servicing income or net servicing loss and assess servicing assets or servicing liabilities for impairment or increased obligation based on fair value at each reporting date, or (b) Fair value measurement method-Measure servicing assets or servicing liabilities at fair value at each reporting date and report changes in fair value in earnings in the period in which the changes occur; (3) at its initial adoption, permits a one-time reclassification of available-for-sale securities to trading securities by entities with recognized servicing rights, without calling into question the treatment of other available-for-sale securities under Statement 115, provided that the available-for-sale securities are identified in some manner as offsetting the entity's exposure to changes in fair value of servicing assets or servicing liabilities that a servicer elects to subsequently measure at fair value; and (5) requires separate presentation of servicing assets and servicing liabilities subsequently measured at fair value in the statement of financial position and additional disclosures for all



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separately recognized servicing assets and servicing liabilities. An entity should adopt this statement as of the beginning of its first fiscal year that begins after September 15, 2006. Earlier adoption is permitted as of the beginning of an entity's fiscal year, provided the entity has not yet issued financial statements, including interim financial statements, for any period of that fiscal year. The effective date of this Statement is the date an entity adopts the requirements of this Statement.
RISK FACTORS

Much of the information included in this quarterly report includes or is based upon estimates, projections or other "forward-looking statements". Such forward-looking statements include any projections or estimates made by us and our management in connection with our business operations. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested herein. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.

Such estimates, projections or other "forward-looking statements" involve various risks and uncertainties as outlined below. We caution readers of this . . .

[Pennystock777]

8K-Summary
NEWS RELEASE

OTCBB: TXLA





THIRD QUARTER OPERATIONAL UPDATE ON TEXOLA’S CHINCHAGA PROSPECT IN NORTHERN ALBERTA AND MAVERICK SPRINGS PROSPECT IN NEVADA



VANCOUVER, B.C., September 15, 2006 -- Texola Energy Corp. (‘Texola’ or the ‘Company’) (OTCBB: TXLA) is pleased to provide a third quarter operational update on its Chinchaga Prospect located in Northern Alberta, Canada and on its Maverick Springs Prospect located in Nevada, USA.



Chinchaga Prospect

The Chinchaga well (8-24-95-8W6) will commence drilling by December 15, 2006 and will take approximately 18 days to reach final depth. Texola Energy owns a 10% interest in Suncor Energy’s Chinchaga prospect located in Northern Alberta, with Eden Energy Corp. holding a 50% position and Suncor retaining a 12.5% gross overriding royalty.



The parties have also identified the drill locations for their second and third wells, both of which are expected to be drilled before spring break up 2007. In addition, the Operator of the prospect is proceeding to survey the pipeline location for future tie in of the wells.



Maverick Springs Prospect

The Company has now received final preliminary exploration materials from Cedar Strat on the Maverick Springs Prospect which included a recently acquired gravity survey, geological cross sections, a 10 well study, a detailed surface outcrop survey and a cross section map on the Maverick Springs Prospect.



As announced under a previous release, Cedar Strat advised the Company that it was very encouraged by the results of its Summer exploration program on the Maverick Springs property as it confirmed the potential for not only a "fractured shale" prospect but also the potential for a conventional oil prospect underlying the Maverick Springs Anticline discovered to exist on the prospect.



Cedar Strat is in the process of completing a "geological report" together with recommendations for follow-up work which will lead to identifying the best location for drilling.



We look forward to providing updates on this very exciting prospect once we are in receipt of the same.



About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large scale, early stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.



For further information contact:

Texola Energy Corp.

Investor Relations:

Gordon Nesbitt

North America Toll Free: 1-866-329-5488 / Email: [e-mail]

[Pennystock777]

Bingo

Cedar Strat Makes Further Geological Recommendations on Texola Energy's Maverick Springs Project
Texola Energy Corp. ('Texola' or the 'Company') (OTCBB: TXLA) is pleased to advise that Cedar Strat has completed its preliminary geological report on the Company's Maverick Springs Project, Nevada USA. The report was being prepared at the request of the Company as a follow-up step to the earlier completed preliminary exploration work undertaken on the prospect which included a recently acquired gravity survey, geological cross sections, a 10 well study, a detailed surface outcrop survey, and a cross section map on the Maverick Springs Prospect. It was this initial exploration activity which concluded the potential of the Maverick Springs prospect for not only a "fractured shale" prospect but also the potential for a conventional oil prospect underlying the Maverick Springs Anticline.

As a result of the encouraging preliminary findings and the follow-up geological analysis, Cedar Strat has recommended that Texola proceed to shoot a seismic dip line to assist in identifying seismically, the exact location of the Maverick Spring Anticline. Upon completion and interpretation of the proposed seismic acquisition, it is further recommended that Texola proceed to shoot a strike line to determine the crest of the anticline. In assessing these recommendations, Texola will determine the viability and cost effectives of shooting both lines concurrently. In addition to the above, Cedar Strat has also recommended that Texola extend the Maverick Springs transect and add two additional transects to evaluate the rest of the leases within the Maverick Springs AMI.

Management is once again encouraged by the positive review and analysis of the Maverick Springs prospect and looks forward to updating shareholders as it move towards defining the most prospective drill targets going forward.

About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large scale, early stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and Texola assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Texola believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Texola's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.


Texola Energy Corp.
Gordon Nesbitt, Investor Relations
North America Toll Free: 1-866-329-5488
[e-mail]



Source: Business Wire (October 18, 2006 - 3:30 PM EST)

News by QuoteMedia
www.quotemedia.com

[Pennystock777]

Diddliydumdidum

Texola Energy Enters into Negotiations with Private Oil & Gas Company
Texola Energy Corp. ('Texola' or the 'Company') (OTCBB:TXLA) wishes to announce that it has entered into negotiations with a private Calgary-based Oil and Gas Company to acquire its ongoing operations and producing assets. The target company commenced operations in 2003 and has focused it drilling and exploration operations in two core areas comprising 9,489 (gross acres); one core area is located in Alberta, Canada, and the other in Saskatchewan. Details relating to current daily production and other assets, including an inventory of low-risk developmental drilling locations, will be expanded upon in greater detail once the terms of the acquisition have been completed.

Management is excited by the opportunities presented by the proposed acquisition as it will, when completed, further diversify the portfolio of oil and gas prospects being explored by the Company, which include: its farm-in with Suncor et al on the Chinchaga Prospect in Alberta, Canada, and its large 120,000-acre Maverick Springs "conventional and shale prospect" in Nevada, USA. The diversity offered by the proposed acquisition is in keeping with management's goal to find, explore and develop large "blue-sky-elephant" type prospects and "near-term," low-risk, drilling and developmental prospects.

Management looks forward to reporting on the progress of its proposed acquisition as it proceeds.

About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large-scale, early-stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early-stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and Texola assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Texola believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Texola's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.


Texola Energy Corp.
Gordon Nesbitt, Investor Relations, 866-329-5488
[e-mail]



Source: Business Wire (November 3, 2006 - 9:01 AM EST)

News by QuoteMedia
www.quotemedia.com Go Tex GO

[Pennystock777]

Texola Energy Acquires Additional Key Acreage on Its Maverick Springs Prospect
Texola Energy Corp. ('Texola' or the 'Company') (OTCBB:TXLA) is pleased to announce that on December 12, 2006 it attended the Nevada Bureau of Land Management's (BLM) lease sale, where it successfully acquired an additional 10,000 acres of oil and gas leases covering its Maverick Springs Prospect, bringing its total leased acreage in the area to approximately 130,000 acres.

Since the Company's acquisition of its initial acreage position of some 120,000 acres in March 2006, Texola Energy, in co-operation with Cedar Strat Corp., as announced in its news release of August 22, 2006, was successful in defining what it believes are two large anticline structures on the Maverick Springs Prospect. In mapping out what it believes to be the location of these anticlines, there existed some 10,000 acres that were key to containing 100% of the two anticlines covering the Maverick Springs Prospect. Management was reluctant to provide too much earlier detail on its proposed anticline structures pending the lease sale, so as not to create competitive bidding on the newly acquired acreage. With the acreage having been acquired, Texola Energy can now proceed with its ongoing exploration over the anticlines having in hand 100% of what it believes to be the prospective land areas.

Chinchaga Prospect

As earlier announced, the Company has been advised that lease preparations are underway on the Chinchaga Prospect, Alberta and that drilling of its initial well 08-24-95-08 will be commenced shortly.

Financing

The Company is please to announce that it has recently raised $1.2 million by way of a 6% convertible debenture. The funds have been used in part to fund and fully vest the Company's participation in the Maverick Springs Prospect, and the Chinchaga #1 test well and for general working capital. The Company is intent on minimizing shareholder dilution resulting from its capital raising initiatives and will focus on raising funds for its projects on an as needed basis, and on the success of its drilling and exploration initiatives.

About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large scale, early stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and Texola assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Texola believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Texola's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.


Texola Energy Corp.
Investor Relations:
Gordon Nesbitt
North America Toll Free: 1-866-329-5488
[e-mail]



Source: Business Wire (December 13, 2006 - 5:01 PM EST)

News by QuoteMedia
www.quotemedia.com

[africando]

Auch hier nochmal die Antwort aus den Staaten auf meine Anfrage zum Stand der Dinge bei den Vorbereitungen zum Bohrstart:


Hello xxx,
On December 12, 2006 Texola attended the Nevada Bureau of Land Management's
(BLM) lease sale, where it successfully acquired an additional 10,000 acres
of oil and gas leases covering its Maverick Springs Prospect, bringing its
total leased acreage in the area to approximately 130,000 acres.
Since the Company's acquisition of its initial acreage position of some
120,000 acres in March 2006, Texola Energy, in co-operation with Cedar Strat
Corp., as announced in its news release of August 22, 2006, was successful
in defining what it believes are two large anticline structures on the
Maverick Springs Prospect. In mapping out what it believes to be the
location of these anticlines, there existed some 10,000 acres that were key
to containing 100% of the two anticlines covering the Maverick Springs
Prospect. Management was reluctant to provide too much earlier detail on its
proposed anticline structures pending the lease sale, so as not to create
competitive bidding on the newly acquired acreage. With the acreage having
been acquired, Texola Energy can now proceed with its ongoing exploration
over the anticlines having in hand 100% of what it believes to be the
prospective land areas.

Chinchaga Prospect
Tasman Exploration Ltd., the Operator on the Company's Chinchaga Suncor Gas
Prospect, Alberta, Canada, advised Texola on November 23, that it has signed
a drilling contract for the resumption of drilling on its first well
location, and has also reserved the drilling rig for two additional wells.
The initial well will be drilled to a depth of 2,725 meters to evaluate the
Slave Point gas potential pursuant to a Farmout and Option Agreement dated
March 7, 2006 with the Company, Suncor Energy Inc. and others.
As earlier announced, the Company has been advised that lease preparations
are underway on the Chinchaga Prospect, Alberta and that drilling of its
initial well 08-24-95-08 will be commenced shortly.

Financing
The Company is please to announce that it has recently raised $1.2 million
by way of a 6% convertible debenture. The funds have been used in part to
fund and fully vest the Company's participation in the Maverick Springs
Prospect, and the Chinchaga #1 test well and for general working capital.
The Company is intent on minimizing shareholder dilution resulting from its
capital raising initiatives and will focus on raising funds for its projects
on an as needed basis, and on the success of its drilling and exploration
initiatives.

Season's Greetings,

Gordon Nesbitt
Investor Relations
Texola Energy Corp
1 866 329 5488
+1 604.488.0292



Es geht also bald los! Nur nicht ungeduldig werden und die Brocken schmeißen!

[Optimierer]

Antwort auf Beitrag Nr.: 26.285.798 von africando am 18.12.06 21:21:49

Hi,

Danke für die Info`s !!!

Gruß Opti..

[Pennystock777]

Better late than never

Proposed Spud Date Confirmed on Texola Energy's Chinchaga Well #1, Alberta, Canada
Texola Energy Corp. ('Texola' or the 'Company') (OTCBB: TXLA) is pleased to announced that on Friday, December 5, 2007 management attended a partners meeting to discuss the Chinchaga prospect wherein it was advised by Tasman Exploration Ltd., the operator of the Chinchaga Prospect, that it has signed a drilling contract for the resumption of drilling on its first well location, and has also reserved the drilling rig for two additional wells. The rig moved to the Chinchaga #1 well location on December 18th and is expected to spud on December 27th. The initial well will be drilled to a depth of approximately 8,900 feet to evaluate the Slave Point gas potential pursuant to a Farmout and Option Agreement dated March 7, 2006 with Texola Energy, Suncor Energy Inc. and others. The Chinchaga exploration wells are in a winter only location. The first well was initially spudded in March 2006 but drilling was suspended due to the approach of spring break-up. Tasman has advised that the proposed two additional wells on the Chinchaga prospect must be drilled prior to March 2007 and that lease and other operational preparations will be reported on as they proceed.

About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large scale, early stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and Texola assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Texola believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Texola's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.


Texola Energy Corp.
Investor Relations:
Gordon Nesbitt
North America Toll Free: 1-866-329-5488
[e-mail]



Source: Business Wire (December 19, 2006 - 4:16 PM EST)

News by QuoteMedia
www.quotemedia.com

[Pennystock777]

Always on the Long side

Drilling Update on Texola Energy's Chinchaga Well #1, Alberta, Canada
Texola Energy Corp. ('Texola' or the 'Company') (OTCBB:TXLA) is pleased to announced that as of 08:00 hours on December 31, 2006 drilling had reached a depth of 1378 meters on the Company's Chinchaga #1 well (8-24-95-8W6). The progress was 189 meters for the 24 hour period. The target is at 2700 meters.

Chinchaga, Alberta is known for some of North America's most prolific gas fields, the most prominent being the 450 BCF Cranberry field, the 430 BCF Hamburg field and more recently the 450 BCF Ladyfern field. These fields all produce from the upper Devonian Slave Point formation where the leached and fractured limestone provides a highly permeable and porous reservoir capable of producing more than 50 million cubic feet of gas per day during their first year of production. The entire Slave Point formation in north-central Alberta and British Columbia is estimated to contain 7 TCF gas in place.

The high carbonate content of the off-bank strata at Ladyfern previously made seismic imaging of the Slave point formation in similar areas virtually impossible prior to the 1990s. Since then, advances in 3D seismic, reprocessing of data and a new understanding of the area's characteristics have opened a window of opportunity in the less densely drilled areas to the south of three previously mentioned gas fields.

Chinchaga is one of these very high quality prospects which were generated by Suncor Energy Inc. after a careful evaluation of geologic studies including sample work of virtually all offsetting wells, seismic modeling, reprocessing and reinterpretation, combined with a 3D seismic survey covering the leases.

We look forward to providing updates on this very exciting prospect once we are in receipt of the same.

About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large scale, early stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and Texola assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Texola believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Texola's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.


Texola Energy Corp.
Gordon Nesbitt, Investor Relations
North America Toll Free: 1-866-329-5488
Email: [e-mail]



Source: Business Wire (January 3, 2007 - 5:00 PM EST)

News by QuoteMedia
www.quotemedia.com

[realtimer007]

Gähhhhn Texola is out 6% - Bio is Inn.
z.B.
NORTHWEST BIOTHER. 44%
US BIODEFENSE NEW 58%
Biophan & Co 14%

[Pennystock777]

Texola Energy Reports on Its Maverick Springs Project, Nevada, USA
Texola Energy Corp. ('Texola' or the 'Company') (OTCBB:TXLA) is currently working with Cedar Strat in reviewing the two large anticline trend areas identified from data generated to date. The primary focus is to assess its existing and additional acreage needs going forward with a continued focus on any acreage within the trend areas. In focusing its exploration efforts, the Company will be cautiously trimming back on the leases that lie outside the anticline trends. However, management is cautious in its lease assessments in that should we make a discovery, even those leases could become very valuable.

In moving the project forward management is considering additional transect mapping and/or seismic in order that it can greatly tighten up the prospective prospect areas.

About Texola Energy Corp.

Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large scale, early stage oil and gas projects in North America.

To achieve this goal, the Company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada, USA, and the second is located in Northern Alberta, Canada. Both of these projects offer the Company the potential to exploit and develop large, world-class reservoirs.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and Texola assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Texola believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Texola's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.


Texola Energy Corp.
Gordon Nesbitt, Investor Relations
North America Toll Free: 1-866-329-5488
[e-mail]



Source: Business Wire (January 19, 2007 - 5:20 PM EST)

News by QuoteMedia
www.quotemedia.com

[psedm]

Wie aus
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx…
hervorgeht, hat sich Herr Donaldson am 24. Januar 2007 von den wenigen verbliebenen Finanzmitteln 100.000 Dollar gegönnt, so dass Ende März 2007 nur noch gut 37.000 übrig waren.

Wie aus
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx…
hevorgeht, wurde das erst am 25. Mai publik gemacht.

Wie aus
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx…
hervorgeht, sah man sich gezwungen, den Bericht zum 2. Quartal 2006 jetzt zu korrigieren. Daraus geht außerdem hervor, dass Her Donaldson noch in der Lage ist, seine dringendsten rechtlichen Verpflichtungen als CEO zu erfüllen. Daraus geht nicht hervor, dass die Firma Texola noch irgendeine Geschäftstätigkeit entfaltet.


Nach meiner Interpretation der vorliegenden Tatsachen ist die Firma zwar völlig wert- und chancenlos, ihren eigentlichen Zweck als Hilfsmittel, gutgläubigen Anlegern Geld aus der Tasche zu ziehen, hat sie allerdings schon erfüllt.