Texhoma Divests Shareholding in Black Swan Petroleum

Texhoma Energy, Inc. has divested its shareholding in Black Swan Petroleum (BSP). BSP conducted, for its joint venture partners, the drilling operations in Thailand which were unsuccessful in March 2005. The Company had announced in its 10-QSB report, for the quarterly period ended June 30, 2005 that it had written off the investment in BSP and would no longer be participating in exploration in Thailand but instead focus on business opportunities in the US, in particular Texas and Louisiana. The shares in BSP were divested for no consideration, effective December 31, 2005.

As per the Company's previous announcement made on August 25, 2005 in relation to its trading status the Company is now preparing revised financials, which provide information on BSP as has been required by the SEC.

Until such time, the Company will remain on the "Pink Sheets". The Company intends to apply for re-quotation on the OTC-BB after filing such statements and assuming the SEC accepts such financial statements and related filings, expects such re-quotation to take approximately 3 months.