Pexcon, Inc. (fka PXCN)

[mikerc971]

TKGC (PXCN) News!

Tekoil & Gas Corporation Announces Intent to Purchase Mining Concession

THE WOODLANDS, Texas, Jul 28, 2005 (PRIMEZONE via COMTEX) -- Tekoil & Gas Corporation (Pink Sheets:TKGC), an oil and gas exploration and production company, is pleased to announce that Tekmining, LLC, a newly formed 100% wholly owned subsidiary of Tekoil and Gas Corporation, has signed a Letter of Intent to purchase a mining concession of Calcium Carbonate in The Dominican Republic.

There are 320 million tons of proven reserves (500 million tons probable) of high grade calcium carbonate, which has been independently tested by three different laboratories. In each test the purity is proven to be high quality and in excess of 99.1 percent, which is considered "select grade." The chemistry and quality of this deposit makes it particularly suited for use in the pharmaceutical and food industries.

Tekoil's Executive Vice President, Mr. Eric Ottens commented: "This highly anticipated calcium carbonate acquisition has been the result of six months of due diligence regarding the logistics and the quality of the deposit in the Dominican Republic. This has been coupled with a comprehensive analysis of the various sectors in this industry, with specific importance being given to the pharmaceutical industry."

Mr. Ottens went on to say: "With our growing "baby boomer" population, osteoporosis is a major health issue, which is primarily combated with the intake of Calcium supplements. Calcium is essential for many body functions, including regulation of the heartbeat, conduction of nerve impulses, stimulation of hormone secretions and clotting of blood, as well as for building and maintaining a healthy skeleton."

The quality of this mineral meets all regulations set forth by the Food Chemical Codex fourth edition and the United States Pharmacopia XXV. Additionally, the mineral is USP and CA Proposition 65 compliant, and has been certified for use in high quality food products by two major U.S. corporations.

The concession occupies an area of about 580 acres and the proven reserves that are mostly above ground, which means that the capital expenditure and operating expenses are significantly reduced for this "open ceiling" mining. The mine has already completed the permitting process for reserve extraction, and the permits will transfer to Tekmining with the acquisition of the reserves.

Additionally, the location allows for significant distribution and cost reduction opportunities. The mine is adjacent to a major highway which leads directly to Barahona, one of the Dominican Republic's largest ports. Another benefit is that a rail stop is located a few miles south of the site. For a minimal capital outlay, Tekmining plans to extend the rail line to the site, thus lowering the company's overall distribution costs. The concession also attracts a 25-year tax exemption from the local authorities.

About Tekoil & Gas Corporation:

Houston-based Tekoil & Gas Corporation is a technology driven, oil and gas exploration and Production Company that utilizes advanced production technologies. The company is focused on the development, acquisition, stimulation, rehabilitation, and asset improvement of small to medium-sized oil and gas fields throughout the North American Continent. The combination of energy fuel reserves and advanced yield technologies, are anticipated to generate value for Tekoil and its stakeholders, as the company targets above average growth in the 21st century energy sector. The company has recently formed a wholly owned subsidiary, Tekmining, LLC, and plans to acquire a number of high grade mineral assets for development and distribution. Additional news and information will be made available on the new Tekoil website at www.tekoil.com, and through further press releases as acquisitions and development projects are executed.

Forward-Looking Statements:

This news release may contain certain forward-looking statements, including declarations regarding Tekoil and its subsidiaries' expectations, intentions, strategies and beliefs regarding the future within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements contained herein are based upon information available to Tekoil management as at the date hereof and actual results may vary based upon future events, both within and without the control of Tekoil management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that additional acquisitions may have on the company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, governmental regulations and other factors.

SOURCE: Tekoil & Gas Corporation

By Staff

CONTACT: Tekoil & Gas Corporation
Mr. Eric Ottens, Executive VP
[phone]
[e-mail]


(C) 2005 PRIMEZONE, All rights reserved.

-0-

INDUSTRY KEYWORD: Oil Exploration & Production
SUBJECT CODE: ENERGY
OIL & GAS
MINING
Company Announcement

[mikerc971]

PEXCON, Inc. Announce Correction to Erroneous Acquisition Rescission

THE WOODLANDS, TX, Jun 29, 2005 (MARKET WIRE via COMTEX) -- Tekoil & Gas Corporation/PEXCON, Inc. (OTC: PXCN), an oil and gas exploration and production company, is announcing the retraction of a press release dated June 28, 2005 by Gerald M. Dunne, erroneously rescinding the Acquisition Agreement between Tekoil and Gas Corporation and Pexcon, Inc.

We wish to advise that Mr. Dunne's press release issued June 28, 2005 stating that the shareholders of Pexcon have rescinded the Tekoil acquisition is completely without merit. No authorized meeting of the shareholders has been held regarding the matter, and the Acquisition Agreement remains in full force and effect. Tekoil continues to utilize the services of its legal counsel Baker and Hostetler, LLP to carry out the transaction, which is moving towards closing on or before July 31, 2005.

The acceptance by Pexcon's Board of Directors of Mr. Dunne's resignation as an officer and director on May 31, 2005 is irrevocable. At this juncture, Mr. Dunne's only affiliation with Pexcon is that of a minority shareholder. Any reliance on representations made by Mr. Dunne regarding his authority to act for or on behalf of Pexcon is done at the public's own risk. Pexcon's current management team is as follows: Chief Executive Officer and Chairman of the Board, Mr. Mark S. Western; President, Mr. Frank Clear; Executive Vice President, Mr. Eric Ottens; and Chief Financial Officer, Mr. Gerald Goodman. The entire Board of Directors of Pexcon is comprised of Mr. Western, Mr. Clear and Mr. Goodman.

We regret the inconvenience and uncertainty Mr. Dunne has created to the shareholders and the additional legal costs thereto. We at Tekoil remain committed to moving forward as planned, to adding shareholder value and through our legal counsel, guarding against any future disruption by Mr. Dunne. Any questions regarding this or any other issue should be directed to Mr. Eric Ottens at [e-mail].

About Tekoil & Gas Corporation/PEXCON, Inc:

Houston based Tekoil & Gas Corporation/PEXCON, Inc., is a technology driven, oil and gas exploration and Production Company that utilizes advanced production technologies. The company is focused on the development, acquisition, stimulation, rehabilitation, and asset improvement of small to medium-sized oil and gas fields throughout the North American Continent. The combination of energy fuel reserves and advanced yield technologies, are anticipated to generate value for Tekoil and its stakeholders, as the company targets above average growth in the 21st century energy sector. Additional news and information will be made available on the new Tekoil website at www.tekoil.com, and through further press releases as acquisitions and development projects are executed.

Forward-Looking Statements:

This news release may contain certain forward-looking statements, including declarations regarding Tekoil/PEXCON and its/their subsidiaries' expectations, intentions, strategies and beliefs regarding the future within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements contained herein are based upon information available to Tekoil/PEXCON management as at the date hereof and actual results may vary based upon future events, both within and without the control of Tekoil/PEXCON's management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that additional acquisitions may have on the company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, governmental regulations and other factors.

Mr. Eric Ottens
Executive VP
Tekoil & Gas Corporation
Contact via http://www.marketwire.com/mw/emailprcntct?id=C5A917749545A032.

SOURCE: Tekoil & Gas Corporation/PEXCON, Inc.

[mikerc971]

PXCN News Out!

PEXCON, Inc. Announces Developments in TekOil & Gas Acquisition

FORT LAUDERDALE, FL, Jun 28, 2005 (MARKET WIRE via COMTEX) -- PEXCON, Inc. (OTC: PXCN), an oil and gas exploration and development company, announces developments concerning the proposed acquisition of TekOil & Gas Corporation.

The acquisition was subject to several terms, including proper due diligence, agreement of financial terms, and attorney review. Upon completing this process, management of PEXCON has notified TekOil & Gas Corporation that the majority shareholder vote, held on June 26, 2005, did not approve the acquisition. This decision will allow TekOil to pursue their business plan in the oil and gas sector independently from PEXCON.

PEXCON, Inc. will resume its original business plan of acquiring working interests in properties that provide net cash flow. The company has had productive preliminary discussions with an institutional investor regarding funding targeted acquisitions, including resumed discussions with Cherokee Oil, and creating a timetable for the OTC-BB listing. The activities were previously halted as a result of the proposed TekOil & Gas acquisition.

Effective immediately, PEXCON has replaced the executive appointments made by TekOil & Gas with the original board of PEXCON, Inc., with Mr. Gerald Dunne serving as Chairman and CEO. Peter McGoldrick of Integrity IR Services, Inc. will continue to serve as the Investor Relations consultant.

As of June 27, 2005, the current outstanding common shares of PEXCON stock is approximately 72,120,000, of which a majority is owned or beneficially owned by management. The company currently has no debt and has very limited monthly cash needs. PEXCON management has no plans to alter the share structure in any significant fashion, and will not be performing a reverse split.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Pexcon, Inc. may differ materially from these statements due to a number of factors. Pexcon, Inc. assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.

Contact:
PEXCON, Inc.
Peter McGoldrick,
Phone: [phone]
Fax: [phone]

SOURCE: PEXCON Inc.

Copyright 2005 Market Wire, All rights reserved.

[pankajanc]

is it 'respectable'? hard to say, there has been no precedent of a respectable man holding or not holding PXCN.

[mikerc971]

Tekoil/PEXCON, Inc. Announces Monthly Shareholders Conference Call

THE WOODLANDS, Texas, Jun 22, 2005 (PRIMEZONE via COMTEX) -- Tekoil & Gas Corporation/PEXCON, Inc. (Pink Sheets:PXCN), an oil and gas exploration and production company, is pleased to announce the launch of its Monthly Shareholders Conference Call.

The company will hold monthly shareholders conference calls on the first Monday of each month at 7.00 p.m. EST. Conference calls will last for up to 45 minutes and will commence on Monday August 1, 2005.

Investors will have the opportunity to listen to development and acquisition updates, corporate updates, strategic developments and future plans from Tekoil's executive management team. Each call will also include an open line question and answer session, where shareholders will have the opportunity to communicate directly with key executives to get their questions answered.

According to Frank Clear, Tekoil's President and COO, "These conference calls have been designed to keep shareholders informed and to create shareholder confidence in the company's long-term future. Tekoil has a number of significant opportunities, and has a long-term vision. We believe this company has a very bright future and we feel it is important for our shareholders to understand that, and to know who we are."

Shareholders will be able to access a password for each call under "Investor Relations" at the company's Web site www.tekoil.com.

About Tekoil & Gas Corporation/PEXCON, Inc.

Houston-based Tekoil & Gas Corporation/PEXCON, Inc., is a technology driven, oil and gas exploration and production company that utilizes advanced production technologies. The company is focused on the development, acquisition, stimulation, rehabilitation, and asset improvement of small to medium-sized oil and gas fields throughout the North American continent. The combination of energy fuel reserves and advanced yield technologies are anticipated to generate value for Tekoil and its stakeholders as the company targets above average growth in the 21st century energy sector. Additional news and information will be made available on the new Tekoil Web site at www.tekoil.com, and through further press releases as acquisitions and development projects are executed.

Forward-Looking Statements:

This news release may contain certain forward-looking statements, including declarations regarding Tekoil/PEXCON and its/their subsidiaries' expectations, intentions, strategies and beliefs regarding the future within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements contained herein are based upon information available to Tekoil/PEXCON management as at the date hereof and actual results may vary based upon future events, both within and without the control of Tekoil/PEXCON's management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that additional acquisitions may have on the company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, governmental regulations and other factors.

SOURCE: PEXCON, Inc.

By Staff

CONTACT: Tekoil & Gas Corporation
Mr. Eric Ottens, Executive VP
[e-mail]


(C) 2005 PRIMEZONE, All rights reserved.

-0-

SUBJECT CODE: ENERGY
OIL
Calendar of Events
Company Announcement

[JT_Marlin]

Hey Is Holding 15k shares of PXCN respectable?

[mikerc971]

PXCN going nutty today +71% to .024. 5.2M volume. Highest single-day volume EVER.

Wonder whats up?

[JT_Marlin]

will this baby break .05 soon?

[mikerc971]

PXCN News:

PEXCON, Inc. Announces Private Equity Financing
Tuesday April 26, 10:55 am ET
Proceeds to Purchase Working Interests in Oil and Gas Projects

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 26, 2005--PEXCON, Inc. (OTC:PXCN.PK - News), an oil and gas exploration and development company, today announced the company has completed a private placement sale of common stock.

Under the terms of the placement, a private equity firm purchased an agreed lot of PEXCON common stock at a price of $.04 per share. The shares can neither be converted to any other quantity of stock nor have their price adjusted. The proceeds from this financing will promptly be used to acquire working interests in oil and gas projects. The company is committed to building a stable and recurring revenue base to support and concurrently increase shareholder value.

PEXCON Chairman Gerald Dunne commented, "As a developing company, we wanted to structure a financing package that would provide an attractive equity investment while still reflecting our potential for significant revenues, negligible debt, and our position in a burgeoning oil and gas market. With very few expenses anticipated, we believe our business model will provide considerable return on investment for our shareholders over the months and years to come."

The company believes this will be the first of several financing rounds to be completed in the near future.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Pexcon, Inc. may differ materially from these statements due to a number of factors. Pexcon, Inc. assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
Contact:

PEXCON, Inc.
Peter McGoldrick, 516-825-6516
Fax: [phone]


Source: PEXCON, Inc.

[mikerc971]

PEXCON, Inc. Acquires Interest in 2,673,445 MCF Natural Gas Well
Monday March 21, 9:30 am ET
Cites Five-Year Revenue Target of $1.7M, Updates Prior Acquisitions

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 21, 2005--PEXCON, Inc. (OTC:PXCN.PK - News), an oil and gas exploration and development company, is pleased to announce that the company has signed a letter of purchase for working interests in oil and gas projects owned by Cherokee Production Company. Cherokee is a private oil and gas produced based in Goliad, Texas.

PEXCON will be acquiring an interest in the Whatley well. The Whatley is a revenue-producing property with total reserves of 2,673,445 mcf of natural gas. The reserves were cited in a report completed by RW Dirks Petroleum Engineers, an independent consulting firm. PEXCON's revenue projections contained in this release rely on that report, completed January 24, 2005, based on a natural gas price of $6.21/mcf at that time.

Under the terms of the agreement PEXCON will purchase incremental units of the Whatley Well with the initial transaction completed within one week. Initial revenues from the Well will begin at $750 and will increase up to $15,000 monthly as PEXCON purchases additional working interests. Furthermore, PEXCON believes that as a result of recent financing activities, it is reasonable to project that the company will increase its interest in the Whatley to $500,000 within the next two months.

PEXCON has also agreed to drill an offset on the Whatley Well which would increase monthly revenue to $27,000. Provided the company drills the offset and will purchase the maximum interest as offered in the agreement, the Whatley Well will be producing revenue for PEXCON for approximately five years and will offer a total revenue opportunity of more than $1,700,000.

PEXCON calculates a total return on investment in just over 22 months, making this a compelling opportunity for the company and its shareholders. PEXCON and Cherokee Production are currently discussing other opportunities for both companies, including joint ventures and interests in other wells.

PEXCON Chairman Gerald Dunne stated, "In a very short time, PEXCON has made tremendous strides in enacting our business plan. We have strong financing partners who have both a professional and financial incentive to see us succeed. We are happy to be working with Cherokee Production and believe this relationship will be fruitful for both parties."

Cherokee Production President Bill Parmley added, "I am looking forward to working with PEXCON as they bring to us the ability to raise capital and complete several of the projects we have under lease agreements."

PEXCON would also like to update the status of the two prior announced working interests, announced January 3 and January 11, respectively. These transactions were subject to, among other things, due diligence and the availability of financing. Unfortunately, negotiations for these projects were both terminated after it was deemed it was not in the best interest of PEXCON or its shareholders that they proceeded.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Pexcon, Inc. may differ materially from these statements due to a number of factors. Pexcon, Inc. assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
Contact:

PEXCON, Inc.
Peter McGoldrick, 516-825-6516
Fax: [phone]


Source: PEXCON, Inc.

[mikerc971]

PEXCON, Inc. Announces Shareholder Update
Wednesday March 16, 11:18 am ET

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 16, 2005--PEXCON, Inc. (OTC:PXCN.PK - News), an oil and gas exploration and development company, announces various corporate updates.

PEXCON would like to inform its shareholders that the company has recently fulfilled the new disclosure requirements (which include form 15c-211 as well as an unaudited financial statement) for the pinksheets quotation system and quotations in our stock have resumed on the pinksheets website. PEXCON is pleased to provide free 'level 2' quotations to our investors and potential investors through the pinksheets website.

Full quotations for PEXCON, Inc. can be viewed at: http://www.pinksheets.com/quote/quote.jsp?symbol=PXCN

Last week, PEXCON management met with company auditors to discuss and prepare filing form SB-2, which is a prospectus required to become a fully reporting company. Terms of the previously announced financial agreement with US Euro Securities requires PEXCON to fulfill certain obligations including becoming fully reporting and listing our common stock on the OTC Bulletin Board. PEXCON is committed to meeting these requirements, which provide more public disclosure and transparency to our business activities, as well as granting the company access to the $10,000,000 line.

PEXCON has received a firm offer, in writing, to provide the company short-term financing to accelerate its business plan prior to receipt of the US Euro Securities line. The company has also met with an additional two investment firms interested in providing short-term financing, who may provide PEXCON with additional written offers. The company feels it is important to structure a 'shareholder-friendly' package that will reduce or eliminate near-term dilution of PEXCON common stock.

PEXCON intends to use proceeds from all financing activities to acquire working interests in preexisting revenue-generating properties with proven and audited reserves, which would provide the company revenue accruing in the second quarter and cash receipts in the third quarter. This business model will generate monthly income with very few expenses and take advantage of the rising prices of oil and gas. The company plans to make an announcement regarding additional working interests by the end of the current month.

The company currently has 57,120,000 shares outstanding and approximately 22,000,000 shares in the public 'float'. As of March 1, 2005 management noted there were 312 holders of our common stock.
Contact:

PEXCON, Inc.
Peter McGoldrick, 516-825-6516
Fax: [phone]


Source: PEXCON, Inc.

[mikerc971]

Just found this board today. I'm big into PXCN and am expecting a good week here. Good luck to all!

Mike

[hoppylad]

Welcome to the Pexcon Inc. Ihub board.