Texas Petroleum Inc.
Texas Petroleum Inc. : TEXAS PETROLEUM INC.- ANNOUNCES TICKER SYMBOL FOR ITS FRANKFURT STOCK EXCHANGE LISTING
Texas Petroleum Inc. / Key word(s): IPO/Miscellaneous Texas Petroleum Inc. : TEXAS PETROLEUM INC.- ANNOUNCES TICKER SYMBOL FOR ITS FRANKFURT STOCK EXCHANGE LISTING 02.12.2010 / 11:51 GRANDE PRAIRIE, AB -Thursday, December 2nd, 2010. Today TEXAS PETROLEUM INC. (www.texas-petroleum.com) announced that it has received from its German market maker, RenellWertpapierhandelsbank AG, its ticker symbol '6TP' for trading on the Frankfurt Stock Exchange. Now TEXAS PETROLEUM expects commencement of trading shortly, and the intended opening share price of the stock is going to be EUR0.75 per share as already previously announced. TEXAS PETROLEUM is the first of several spin-outs of its parent, GRIT INTERNATIONAL INC., which currently invites all of its shareholders to participate in this spin-out and going public of TEXAS PETROLEUM by purchasing TEXAS PETROLEUM shares for a preferred purchase price of EUR0.01 per share. All GRIT shareholders who own GRIT shares on December 31st, 2010 ('Record Date') will be entitled to receive for each GRIT share owned on such Record Date one additional TEXAS PETROLEUM share for the preferred purchase price of EUR 0.01 per share. The purchase price will be payable until January 31, 2011 ('Payment Date') after which GRIT will deliver the purchased TEXAS PETROLEUM shares until February 28, 2011 ('Delivery Date') to the participating shareholders. Additional details about this spin-out opportunity have been addressed in GRIT's past press releases which can be reviewed at GRIT's corporate website at www.gritintl.com. ABOUT TEXAS PETROLEUM INC. GRIT's first subsidiary spin-off company which is domestically and internationally focusing on the acquisition(s) of producing Oil & Gas Fields, with proven barrels in reserves as a fundamental criteria. Domestically the company will focus on Texas Oil Reserves, noting the areas such as East Texas Oil Fields which have produced 5.2 billion barrels of oil since its discovery. Internationally focus will be in the emerging markets with particular attention being addressed to the networking connection of Ariva Resources, in the Western African Regions. Texas Petroleum foresees a tremendous growth opportunity into these areas and will become a major supplier of petroleum products. ABOUT GRIT INTERNATIONAL INC. GRIT International Inc., is a Canadian based company registered in the State of Nevada, US; -Diversified Industrial Services Company, offering Support Services, Utilities, Oil & Gas and Mineral holdings. The businesses that make up GRIT INTL - Integrate amongst each other providing a present revenue from the energy industry and also seeks out Environmentally Sustainable solutions in nuclear energy, renewable resources in bio-waste and other alternative fuels available at present time. GRIT foresees expanding its divisions from an international to that of a Global services provider. Texas Petroleum Inc., is a subsidiary of GRIT International Inc. Safe Harbor Statement; under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Contact:Texas Petroleum Inc., Investor Relations Website: www.texas-petroleum.com; E-mail: info@texas-petroleum.com A : Suite 2020 3- 9899 112th Avenue Grande Prairie,Alberta T8V 7T2Canada Investor Relations - German Mr. James Stewart P: +49 (0) 2161 49694870 E: jstewart@texas-petroleum.com End of Corporate News 02.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 105290 02.12.2010
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