American Marconi Wireless News - West Texas Resources Engages PCAOB Audit Firm to Advance OTCQB Uplisting Strategy

The audit engagement marks another important step in the Company's continuing efforts to strengthen corporate governance, increase transparency, and position WTXR for broader institutional and retail investor participation. Upon completion of the audit and satisfaction of applicable OTC Markets requirements, the Company intends to submit its application for quotation on the OTCQB Venture Market.

The announcement follows several months of meaningful corporate progress, including the completion of current OTC Markets reporting, continued operational development of the Company's Texas oil and gas assets, and increased investor interest reflected by recent trading activity in WTXR common stock.

"Our objective has always been to build a real operating company with high-quality reporting standards and a long-term growth strategy," said H.E. Donald H. Gorée, KGC, Chairman and Chief Executive Officer of West Texas Resources. "Engaging a PCAOB audit firm is another major milestone that moves us closer to OTCQB while demonstrating our commitment to transparency and long-term shareholder value."

Mr. Gorée continued, "The opportunities before us are substantial. Across Texas there are thousands of proven legacy oil wells that can often be restored to meaningful production through disciplined engineering and operational execution. Our strategy is to acquire these undervalued assets, reactivate production, and build a scalable operating company. We continue to evaluate additional acquisition opportunities and are actively assembling a pipeline of producing properties. At this point, our growth is driven primarily by our ability to access additional growth capital."

In parallel with the audit process, WTXR continues to expand its operating platform through its wholly owned subsidiary, Texas Coastal Energy Corp., which is expected to operate under the name West Texas Operating Co., Inc. The Company believes bringing field operations under direct management will improve operating efficiencies, reduce costs, and provide greater control over future production enhancement activities.

Management believes that completion of audited financial statements and an OTCQB uplisting would significantly enhance the Company's visibility within the investment community while supporting its longer-term objective of qualifying for a national securities exchange as the Company continues to grow.

About West Texas Resources, Inc.

West Texas Resources, Inc. (OTCID:WTXR) is an independent energy company focused on the acquisition, redevelopment, and operation of oil and gas assets throughout Texas. Through disciplined acquisitions, well reactivation programs, and operational execution, the Company seeks to increase production, generate long-term cash flow, and create sustainable shareholder value while maintaining a commitment to responsible environmental stewardship and corporate governance.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding completion of the Company's audit, qualification for OTCQB, future acquisitions, financing activities, production increases, operating performance, revenues, cash flow, future exchange listings, and other statements that are not historical facts. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks include, among others, the availability of financing, completion of the audit process, regulatory approvals, market conditions, commodity prices, acquisition negotiations, operational risks, and other factors described in the Company's public disclosures. The Company undertakes no obligation to update forward-looking statements except as required by applicable law.

Investor Relations

Erin Maire
[email protected]

Contact Investor Relations through the Company's website:
www.West-Texas.com

SOURCE: West Texas Resources, Inc.

View the original press release on ACCESS Newswire

L.Davis--AMWN