Oil and Gas Plays

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EYTC -Energytec Closes Largest Acquisition in Company's History
Tuesday November 29, 8:35 am ET


DALLAS, Nov. 29 /PRNewswire-FirstCall/ -- Energytec, Inc. (OTC Pink Sheets: EYTC - News) announced today that it closed its largest property acquisition, in terms of production and revenues, in the history of the Company. Energytec acquired 55 wells, currently producing approximately 250 barrels of oil per day, including 22 wells currently shut in needing additional work. The Company plans to perform that work over the next six to twelve months. The properties are located on 35 leases covering four fields in Hopkins and Wood Counties, Texas approximately 100 miles east of Dallas and situated within easy distance from the Company's other major East Texas properties at Talco, Sulphur Bluff, Redwater and Kilgore.



Frank W Cole, Energytec's President and CEO, commented, "This is an important acquisition for us in many ways. It will double our existing oil and gas revenues. The properties are stable with long life reserves, and, there is additional upside in using our Comanche Well Service equipment to bring on more wells and increase production. We also will receive a significant amount of property and equipment managed by an extremely good financial and field administrator and complement of field personnel."

The transaction closed Tuesday, November 22, but was effective October 1, 2005 for financial reporting purposes. Energytec will own the Project outright with 100% of the working interest.

President Cole commented further, "As a matter of policy we do not discuss purchase prices and terms, but we have added reserves to the Company at a price of approximately $6.00 per barrel of proved producing reserves. We believe this is an outstanding buy for the Company in this market environment."

ABOUT ENERGYTEC

Energytec, Inc. is a growing independent oil and gas company based in Dallas, Texas principally engaged in acquisition and development of mature fields with established oil and gas reserves that have declined in production yet still possess significant remaining upside exploitation potential. Its operations are focused primarily in four areas of Texas (Northeast, East, Central and South Central) and secondarily in Wyoming in the Big Horn Oil Field, where it is undertaking a significant thermal recovery project. Energytec has increased production and reserves on the properties it owns and intends to continue to increase production and reserves on those properties, as well as new acquisitions, through drilling new wells, and implementing other development programs such as workovers and secondary recovery operations. The Company maintains a website at http://www.energytec.com . For further information, call Frank W Cole, Chairman of Energytec, at 972-789-5136 or email the Company at [e-mail] .

The statements in this document concerning management's plans and objectives including those related to the timing of work to be performed on shut in wells, the continued production at the current rate of 250 barrels of oil per day, the ability to double Energytec's current oil and gas revenues, and the life of the reserves constitute forward-looking statements pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements involve risk and uncertainties that could cause actual results to differ materially from those set forth in these statements. Factors which could cause or contribute to such differences include, but are not limited to the retention of the field administrator and field personnel, sustaining current production rates, the ability to obtain drilling permits and the ability to utilize our own equipment and manpower or to procure third party services to complete workovers on shut in wells within the given time frame, and economic factors which could affect demands for oil and natural gas as well as commodity prices, as well as factors detailed in the Company's Report to Shareholders; down-turns in the Company's primary markets; disruption to the Company's operations from acts of God or extended maintenance; and production and transportation difficulties. The realization of any of these risk factors would significantly impact the recognition of revenues anticipated by management. Accordingly no assurance can be given that events or results mentioned in any such forward-looking statements will in fact occur. Energytec, Inc. assumes no obligation to update this information.




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Source: Energytec, Inc.