Texas Oil and Minerals Inc. announced that the Company has formalized an agreement to Joint Venture with Golden Triangle Enterprises, Inc. As part of this change in business strategy, Golden Triangle Enterprises has executed an agreement to Joint Venture with Texas Oil and Minerals and acquire the Preferred Series F and G, which represent voting control of the company, from the current controlling shareholder and former CEO of the Company, Tom Gouger. Additionally, a new CEO has been elected and Tom Gouger has resigned his positions as CEO and Chairman. Stuart Seim has been appointed as the new CEO of Texas Oil & Minerals, Inc. The company also intends to pursue the possibility of a name and symbol change to better reflect the new business strategy.

Mr. Seim currently resides in Colorado where he is an advisor to several other organizations.