*** Investment Alert      Investment Alert ***

StockUpTicks endeavors to bring you information about under-followed companies that may be of particular interest to investors in "discovery" emerging growth stocks. This Investment Alert highlights Gulftex Energy Corporation (OTC BB: GTXE). 

President Bush on being less dependent on foreign oil click here
Department of Energy click here 
Story on oil dependence study by International Energy Agency click here
 
 

*** Breaking News ***

Friday November 9, 7:33 pm Eastern Time
SOURCE: Gulftex Energy Corporation

HOUSTON, Nov. 9 /PRNewswire/ -- Tensions in the oil rich Middle East have renewed interest in American oil reserves and domestic producers such as Gulftex Energy Corporation (OTC Bulletin Board: GTXE - news).

In an ABC News report October 22, 2001, the network quoted Merrill Lynch analyst Steven Pfiefer as stating, ``It is quite feasible that we could see prices rise if conditions overseas escalate in some form,'' adding that Pfeifer and several other analysts are predicting higher oil prices similar to what the U.S. experienced during the 1970s when restrained production from OPEC and military and political volatility in the Middle East led to skyrocketing oil prices and fuel costs.

Heightening fears of a diminished oil supply are U.S. Government suggestions that the ``War on Terrorism'' could extend to other nations beyond Afghanistan, some of which may be OPEC nations or allies of OPEC countries. The effect of such action could ``abruptly change'' the output from OPEC according to the ABC report. OPEC meets again in Vienna on November 14, 2001.

Moreover, ABC states that U.S. ally Saudi Arabia produces more than double the oil production of the rest of the world combined and as a potential target of exiled Saudi Osama Bin Laden, a ``nightmare scenario'' would be a successful attack on that oil supply or its distributing ports.

Amid these fears, interest has risen in domestic oil suppliers such as Gulftex Energy Corporation, a Houston based integrated petroleum company involved in exploration and production, transportation, refining, and retail marketing. The company develops and manages oil and gas fields, focusing on the Permian Basin in New Mexico and Texas, onshore United States Gulf Coast, and the Gulf of Mexico, offshore in Indonesia, Nigeria and Qatar. The Company is also involved in pipeline transportation, oil & refined products trading, and shipping.

The ABC report also states that an alternative to Middle Eastern oil dependence is to develop existing oil resources within the United States. The U.S. Energy Department is expected to unveil a report soon outlining the benefits of developing and expanding domestic oil reserves, including bumping up the strategic reserve, again, according to the report.

Earlier this year amid threats of rolling blackouts, President Bush and U.S. Dept. of Energy's Spencer Abraham repeatedly called for increased domestic drilling.

``We're looking forward to an increase in incentives for domestic oil exploration and production,'' said Marc Duchesne, president of Gulftex Energy Corporation. ``We will be making some dramatic announcements in the very near future regarding the acquisition of large oil and gas properties in the United States. Stay tuned.''

Gulftex Energy Corporation is an integrated petroleum company involved in exploration and production, transportation, refining, and retail marketing. The Company develops and manages oil and gas fields, focusing on New Mexico, Texas, Louisiana, Kentucky plus onshore United States Gulf Coast and the Gulf of Mexico, including offshore. The Company is also involved in pipeline transportation, oil & refined products trading & shipping.

IMPORTANT NOTICE: Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Gulftex believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, oil and gas prices, drilling program results, drilling results, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.

www.gulftexenergy.com 

SOURCE: Gulftex Energy Corporation 
 

VITAL STATISTICS Exchange:                                OTC BB:  (GTXE) 52 Week Low - High:                $.79 - $4.25 Volume (Avg. Daily)                 10,000 Recent Close                           $0.79 Float                                           735,000 Shares Outstanding:                  27,459,000  Market Cap:                             $21,692,610 Corporate Web site click here Click here for GTXE quotes & news   2001 (4 mos) Income Statement Data  ( ,000) Operating revenues $9,120  Operating income $2,454  Net income $677  Total current assets $14,179  Property and equipment, net $25,261  Total assets $48,368  Total liabilities $26,614  Shareholders' equity $21,755  Operating income return on average PP&E 10.0%    Company Overview Gulftex Energy Corporation is an integrated petroleum company involved in exploration and production, transportation, refining, and retail marketing. The Company develops and manages oil and gas fields, focusing on the Permian Basin in New Mexico and Texas, onshore United States Gulf Coast, and the Gulf of Mexico. The Company is also involved in pipeline transportation, oil & refined products trading, shipping and futures.   In Business, It's Position, Position, Position Gulftex Energy Corporation is optimally positioned in the global energy markets. Our customers, partners and shareholders benefit from a full range of products and services based on world-class research and investment expertise. Our size, and the breath of skills we can mobilize through our divisions, allows us to optimize commercial activities with the truly individual solutions they demand. Each project has specific needs and to address them we have created dedicated teams. The group allows us to uniquely leverage both financial and technical know-how to the benefit of our shareholders, employees, partners and communities alike, combined with our unique cost structure allows us to develop properties faster and far cheaper than any competitor.    Company Mission Initially, to position ourselves to be accepted and listed onto the NYSE within 12 months. This coincides with our vision is to be "highly regarded and respected from our peers," which means: Employees are proud of their success as a team; customers, suppliers and governments prefer us, competitors respect us, communities welcome us and investors are eager to invest in us. Our steadfast pursuit of winning is embodied in our primary objective -- to exceed the performance of our strongest competitors by achieving better stockholder returns for the period 2001 through 2006. To achieve this goal, we will grow earnings faster then our competitor's while maintaining a competitive return on capital employed.We are proud to be a Texas Energy Corporation providing energy products vital to the growth of the world's economies. Our mission is to create superior value to our stockholders, our customers and our employees.    Contact Headquarters:  Gulftex Energy Corporation  Four Oaks Place 1330 Post Oak Blvd.  Suite 1600 Houston, TX 77056 Phone: 1.713.513.7125  Investor Relations: Paul Lemmon  email: plemmon@gulftexenergy.com Office: 1.506 455 7972  Safe Harbor Statement: Statements contained in this document, including those pertaining to estimates and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made.  Disclaimer: StockUpTicks.com is a property of Market Pathways Financial Relations Incorporated (MP).  The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness.  This report is for information purposes only and should not be used as the basis for any investment decision. MP is being paid 40,000 shares of GTXE by Gulftex Energy Inc. for distribution of this report and ongoing advertising services. The compensation received by MP for producing this newsletter constitutes a conflict of interest as to MP’s ability to remain objective in its communication regarding the subject company.  Write or call MP for detailed disclosure as required by Rule 17b of the Securities Act of 1933/1934.  MP is not an investment advisor and this report is not investment advice.  This information is neither a solicitation to buy nor an offer to sell securities.  Information contained herein contains forward-looking statements and is subject to significant risks and uncertainties, which will affect the results.  The opinions contained herein reflect our current judgment and are subject to change without notice.  MP and/or its affiliates, associates and employees from time to time may have either a long or short position in securities mentioned.  Information contained herein may not be reproduced in whole or in part without the express written consent of Market Pathways Financial Relations Incorporated.  Safe Harbor Statement: This profile is neither an offer or solicitation to buy or sell any securities mentioned. While the publisher believes all sources of information to be factual and reliable, in no way does it represent or guarantee the accuracy thereof, nor the statements made herein and has no independent verification of the facts, assumptions and estimates contained in this newsletter. "Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained  are  "forward- looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, the Company's industry position, financial condition and structure. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Such risks include, without limitation, risks associated with the Company not being able to successfully implement its new strategies, the risk that new acquisitions, if any, will not be successfully integrated into the Company, the seasonality of the Company's sales, the Company's competition, the Company's dependence on supplier relationships and risks related to the Company's borrowings.  For More Information or to be featured in our publication reaching over 1,000,000  investors contact us at info@stockupticks.com