Tim Taylor Elevated to Executive Vice President of Texas American Resources Company

AUSTIN, Texas, Aug. 19, 2011 /PRNewswire/ -- Texas American Resources Company ("TARC" or the "Company") today announced that Dr. Tim Taylor has been elevated to Executive Vice President, effective immediately. In an effort to strengthen strategic planning and the technical development of two oil-prone repeatable plays David Honeycutt, TARC Chief Executive Officer, has asked Dr. Taylor to concentrate his energies in helping accelerate growth and technical understanding of Company assets in the Texas Panhandle and South Texas. Mr. Honeycutt added, "Tim is a tremendous strategic thinker and hard worker. He brings a lot of experience to bear and will be instrumental in the evolution of our Company. The move is intended to free up some of his time for critical thought for value creation."

The Company is re-aligning its management team after closing the sale of its DJ Basin Properties to Bill Barrett Corporation for $150 million. The sale highlights the ability of the TARC management team to create, build, and realize value in its properties. Mr. Honeycutt commented on the sale, “The transactional metrics for the sale of our DJ Basin assets are very compelling; we are delighted with the outcome. We had a fine collective effort from our Denver and Austin staffs, I am very proud of the talent we have in our organization. The benefits from our DJ Basin sale will allow Texas American to focus on the development of our very attractive oil-prone Eagle Ford assets in South Texas.”

Dr. Taylor has previously served as Chief Operating Officer of Texas American Resources Company. The Company is not seeking a replacement for the COO position at this time.

ABOUT TEXAS AMERICAN RESOURCES COMPANY

Texas American Resources Company is a privately-held independent energy company headquartered in Austin, Texas. Since its founding in 1990, TARC has focused on the acquisition and exploitation of proved or near proved properties in Texas and the Rocky Mountain region of the United States.

LEGAL DISCLOSURE: Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, particularly any express or implied statements concerning future financial condition or operating results.  Although Management believes that the expectations reflected herein are reasonable, the matters discussed in this release involve risks, uncertainties, and other factors that may delay, prevent or adversely affect the transaction or the Company's planned activities and operations.  There can be no assurance that such expectations will prove correct.  All forward-looking statements are expressly qualified by this cautionary statement.

SOURCE Texas American Resources Company

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