On January 5, 2014, the Board of Directors of Texas Gulf Energy, Incorporated convened to review several matters including leadership through 2014. To this end, the Board of Directors elected John A. Haney as the company's new Chief Financial Officer. The Board of Directors also requested that Craig Crawford, whose resignation was announced in a Current Report on Form 8-K dated December 17, 2013, which was filed with the Securities and Exchange Commission on December 19, 2013, continue as the Interim Chief Executive Officer through March 31, 2014.

Mr. Crawford has agreed to do so. In addition to continuing as Interim Chief Executive Officer, Mr. Crawford will continue to serve on the Board of Directors through his current term. Mr. Crawford will oversee the required SEC Form 10-K filing and certify the results once the audit is completed.

Prior to joining the company, Mr. Haney worked for Merger Partners Inc., from 2012 until 2013, as a Managing Director specializing in buy-side merger and acquisition advisory.