HOUSTON, May 15, 2002 (PRIMEZONE) -- Palal Mining Corporation (PLLC) announced today, the completion of the Company's name change to TexEn Oil & Gas, Inc. (OTCBB:TXEO) and symbol change. The name and symbol change, which became effective today, more accurately reflects the Company's current business model.
Paul Lemmon, Director, Secretary of TexEn Oil & Gas, Inc. stated," Our intention of a strategic name change is to better reflect the Company's new direction and business. With this process completed we can focus our efforts on expanding our business with the acquisition of proven and producing oil and gas assets."
About TexEn Oil & Gas, Inc.
TexEn is a development stage company to acquire oil and gas properties. The Company intends to exercise its business plan with the acquisition of producing properties with drilling development potential and to strengthen its board of directors and management, with the intent of becoming a small to intermediate producer.
This press release contains forward-looking statements within the Meaning of The Private Securities Litigation Reform Act of 1995 (the Act). These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the company's business and prospects and cause actual results to differ materially from these statements.