Texas Gulf Energy, Inc. Signs LOI To Sell Certain Subsidiaries For $5,000,000

Texas Gulf Energy, Inc. Signs LOI To Sell Certain Subsidiaries For $5,000,000

PR Newswire

HOUSTON, June 25, 2013

HOUSTON, June 25, 2013 /PRNewswire/ --Texas Gulf Energy, Incorporated (OTC:
TXGE) (www.tgnrg.com) announced today thatthe company has signed a letter of
intent (LOI) to sell the assets of three of the company's subsidiaries or
divisions for $5,000,000, consisting of $3,000,000 in cash and approximately
$2 million in assumed liabilities. The LOI is non binding and subject to the
completion of due diligence and the execution of definitive binding agreements
between the parties. Craig Crawford, CEO of Texas Gulf Energy, commented: "We
previously disclosed that we were in ongoing negotiations to sell these
operations, and with assistance and hard work from our previous CEO, David
Mathews, we were able to reach an acceptable LOI agreement with a prospective
buyer. Should the transaction successfully close as scheduled on or before
July 31, 2013, Mr. Mathews plans on joining the buyer and continuing to lead
the operations of the purchased companies."

About Texas Gulf Energy, Incorporated (www.tgnrg.com)

Focused on providing expert advisory services on program and project
management and fast track construction and turnaround services to large
refinery, petrochemical and mining projects, Texas Gulf Energy, Incorporated
is a safe, well managed, construction services consortium. Our service lines
include direct hire capital construction services, turnaround services,
fabrication and program management. Our clients include some of the largest
energy companies in the world such as Exxon Mobil, Conoco Phillips, Chevron,
Valero, and others. We are particularly well known throughout the energy
markets for our ability to provide construction services with professional,
experienced and well trained teams to maximize the ability of our customers to
complete major projects safely, on time and on budget. Now entering our tenth
year in business, we have vertically integrated our service offering into
other energy market segments, including refinery turnaround services,
petrochemicals, and professional consulting services both to better serve the
needs of our clients.

Precautionary and Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and such forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. "Forward looking statements"
describe future expectations, plans, results, or strategies and are generally
preceded by words such as "may," "future," "plan" or "planned," "will" or
"should," 'expected," "anticipates," "draft," "eventually" or "projected." You
are cautioned that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results to
differ materially from those projected in the forward-looking statements,
including the risks that actual results may differ materially from those
projected in the forward-looking statements as a result of various factors,
and other risks identified in TXGE's disclosures or filings with the SEC. You
are further cautioned that penny stocks, like TXGE, are inherently volatile
and risky and that no investor should buy this stock unless they can afford
the loss of their entire investment.

SOURCE Texas Gulf Energy, Inc.

Website: http://www.tgnrg.com
Contact: Craig Crawford, 281-867-8500, or email info@tgnrg.com
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