Tekoil is presently focused on its Galveston Texas acquisition, and establishing its rig fabrication center in Stephenville, Newfoundland, with the anticipation of construction work beginning as early as the first quarter of 2007.
Tekoil's Chairman & CEO stated, "The approval from the Department of Environment & Conservation is a major step forward in our efforts to establish the company's operations in western Newfoundland, and we are delighted to be making steady progress". Mr. Western went on to say, "This has been a long process that has required a serious commitment of financial and human resources on our part, but Tekoil believes in the potential of western Newfoundland, and has long term plans for its future in the province".
Houston-based Tekoil & Gas Corporation is a technology-driven company focused on the development, acquisition, stimulation, rehabilitation and asset improvement of small- to medium-sized oil and gas fields.
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