Gulftex Operating, Inc. News

Gulftex Operating, Inc. 3030 LBJ Freeway Suite 1320 LB#47 Dallas, Texas 75243  -  972-243-2613

Frenchtown #2-H Update
Attn: Partners
Gulftex Operating, Inc. today is announcing that the we are drilling past the 8000’ depth on our way to a total measured depth of approximately 12,000’. We are right in the middle of the curve that will take us to the lateral section. We are experiencing a lot of gas shows both with trip gas and connection gas. We are still on schedule to complete the drilling phase by the end of the year.
Footnote: Our industry partner in this well, XTO is in the process of being bought out by Exxon-Mobil, which will make them our new industry partner. This should certainly increase our visibility in the Barnett Shale.

In 1996 Gulftex Operating, Inc. became a contract operator to TBX Resources, Inc. with over 100 operating wells in East Texas and Louisiana. Today Gulftex Operating, Inc. has a successful exploration, drilling and production track record participating in over 35 wells in the Barnett Shale. The Gulftex record includes an impressive 20 wells in the core area of the Barnett Shale. Tim Burroughs, President of Gulftex Operating, Inc., has spent the last 14 years building Gulftex Operating, Inc. Top energy companies including XTO Energy, Crusader Energy, Devon Energy, Conoco Phillips, Encana and others have partnered with Gulftex Operating, Inc. on numerous Barnett Shale projects.

The Gulftex Operating, Inc. has a primary focus on the development of conventional and unconventional resource plays which includes the application of horizontal drilling and cutting edge completion technology aimed at developing shale and tight sand reservoirs. The Gulftex assets are located in various domestic basins, the majority of which are in the Ft. Worth Basin, Barnett Shale.

For other information regarding Gulftex Operating, Inc., please visit the Company's Internet Web site at



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