Texas South Energy Inc. (fka TXSO)

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HOUSTON, TX, Aug. 08, 2018 (GLOBE NEWSWIRE) -- Texas South Energy, Inc. (TXSO) (“Texas South” or the “Company”) today announced that the Operator of the Canoe Prospect has received an approved permit from the Bureau of Ocean Energy Management (“BOEM”) and commenced drilling operations on the outer continental shelf of the U.S. Gulf of Mexico. The Canoe Prospect is designed to test a series of stacked Pleistocene seismic amplitudes on Vermilion Area, South Addition Block 378 (VR 378). The Company holds a 5% working interest in the well and in VR 378. Delek GOM Investments LLC, a subsidiary of Delek Group Ltd. (“Delek”) owns a 75% working interest and GulfSlope Energy Inc. owns a 20% working interest. Under the terms of its operating agreement, Texas South will pay 2% of the cost to drill this exploratory well and 5% of the costs thereafter upon commercial discovery.