'GTXE' - Gulftex Ready to Assist in Meeting US Oil Demands

Stocks bounce-stocknight-90845T at lyris.stocknight.com
Fri Nov 9 18:37:04 PST 2001


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 Welcome to Stockupticks.com Newsletter   Issue #14 - November 09, 2001
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        e-Blast

        [Image]    *** Investment Alert      Investment  [Image]
                                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).

                             BUY AMERICAN ?

             Gulftex Is Positioned In The Market RIGHT NOW
            To Meet The Demands Of U.S. Energy Independence

                                [Image]

           In the light of the U.S. reliance on foreign oil in
                          this troubled world,
          domestic oil refineries are constantly strengthening
                            their reserves
          in accord with the energy policy of President Bush

          As one analyst said, "No more being held as a hostage
                               for oil."

                                [Image]

         Gulftex Energy Corporation develops and manages oil and
                   gas fields in New Mexico, Texas,
               the U.S. Gulf Coast and the Gulf of Mexico

        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


        [Image]          *** Breaking News ***           [Image]

               The Following News Was Released  3 hours
                    AFTER THE MARKETS CLOSED TODAY.
          This means, for once, you won't be the last to know !

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

            Global Oil Supply Uncertainty Raises Interest in
         American Oil Producers; Gulftex Oil Ready to Assist in
                             Meeting Demand

        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


          [Image]2001 (4 mos) Income Statement Data  (  [Image]
                 ,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%

          [Image]Company Overview                       [Image]

          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.

          [Image]In Business, It's Position, Position,  [Image]
                 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.

          [Image]Company Mission                        [Image]

          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.

          [Image]Contact                                [Image]

          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 at 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.

                ----------------------------------------

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