Tidelands Oil & Gas Corporation Aligns Itself With CenterPoint Energy Pipeline Services, Inc.
Posted on: Thursday, 11 August 2005, 09:01 CDT
SAN ANTONIO, Aug. 11 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (BULLETIN BOARD: TIDE) announced today that it has entered into a Master Consulting Services Agreement with CenterPoint Energy Pipeline Services, Inc., an indirect wholly-owned subsidiary of CenterPoint Energy, Inc. . Under the terms of the agreement, CenterPoint Energy will provide various consulting services needed for the construction of Tidelands' proposed integrated gas pipeline, storage and LNG Project ("Project") in Northeast Mexico.
Tidelands announced today that it has also entered into a Letter of Intent with CenterPoint Energy Pipeline Services to provide technical expertise and oversight for the development, construction, operation and maintenance of Tidelands' Project pending an executed Definitive Agreement. CenterPoint Energy will perform all work out of its corporate office in Houston.
CenterPoint Energy's capabilities are the result of decades of experience it has gained through the project management and operation of its two affiliate natural gas transmission pipelines: CenterPoint Energy Gas Transmission and CenterPoint Energy - Mississippi River Transmission. These assets encompass over 8,200 miles of pipeline, six underground natural gas storage facilities and over 350,000 horsepower of compression in six states.
Michael Ward, President and CEO of Tidelands Oil & Gas Corporation, stated, "CenterPoint Energy's sustained reputation for dependability has prompted us to engage their consulting services to investigate and evaluate the intricate details of our proposed pipeline, storage facility and LNG Project."
Tidelands Oil & Gas Corporation will continue to update its shareholders as developments warrant.
About CenterPoint Energy Pipeline Services
CenterPoint Energy Pipeline Services, Inc. is an experienced provider of cost-effective pipeline management solutions that provides comprehensive operation and maintenance and project management services. For more information, visit the Web site at http://www.ps.centerpointenergy.com/ . It is an indirect wholly-owned subsidiary of CenterPoint Energy, Inc., a domestic energy delivery company, headquartered in Houston, Texas, that includes electric transmission & distribution, natural gas distribution and sales, and interstate pipeline and gathering operations. The company serves nearly five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. Assets total approximately $16 billion. With more than 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 130 years. For more information, visit the Web site at http://www.centerpointenergy.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 of services and has the capability to satisfy a wide variety of 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
Tidelands Oil & Gas Corporation
CONTACT: investors, Barry Gross of Gross Capital, Inc., +1-361-949-4999,or barry@grosscapital.com , for Tidelands Oil & Gas Corporation; or MichaelWard of Tidelands Oil & Gas Corporation, +1-210-764-8642, ortogctide@aol.com
Web site: http://www.tidelandsoilandgas.com/http://www.ps.centerpointenergy.com/http://www.centerpointenergy.com/
Source: PRNewswire-FirstCall
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