Replies to post #2608 on Tidelands Oil & Gas Corporation (TIDE)

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Some clues of what to expect?

SAN ANTONIO, July 28 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas
Corporation (OTC Bulletin Board: TIDE) announced today that Tidelands and its
wholly-owned subsidiary, Terranova Energia, S. de R.L. de C.V., have retained
Mexican law firm, Ritch, Heather Y Mueller, S.C. ("Ritch") of Mexico City, to
provide local legal assistance and analysis of Tidelands' proposed projects
("Projects") in Northeast Mexico and South Texas.

Ritch's counsel will advise and assist Tidelands in the following general
areas:

* Analyzing the principal legal and regulatory issues associated with
each component of the Projects' scope, inclusive of the legal and
regulatory basis for the proposed pipelines, natural gas storage and
LNG facilities with regard to the proposed legal structure of each;
* Refining the commercial structure of its Projects;
* Developing a financing plan for the Projects, including identifying
potential financing and collateral security issues associated with the
implementation of the Projects and their constituent phases;
* Analyzing and addressing country/regulatory and other risks underlying
the Projects and their proposed financing;
* Negotiating, analyzing and reviewing key commercial contracts and
financing documents underlying the Projects;
* Identifying other legal specialists in Mexico necessary to allow for
the successful development, construction and financing of the Projects
while collaborating with any other counsel on behalf of Tidelands;
* Closing and funding of any financing for the Projects.

Ritch, Heather Y Mueller, S.C. has a stellar working knowledge of the
regulatory framework for LNG terminals, storage facilities and gas
transmission pipelines and has represented groups such as: Gasoductos de
Tamaulipas in the development and financing of an open-access gas pipeline
(the San Fernando Pipeline) in the State of Tamaulipas; a consortium formed by
TransCanada and Gutsa for the construction of the Mayakan gas pipeline; and,
Gasoductos del Rio in respect of matters related to the rights-of-way and off-
take transportation services agreement for the gas pipeline from Nuevo
Progreso, Tamaulipas to the Rio Bravo power plant cluster in the very near
vicinity of the gas storage project planned by Terranova Energia.
Michael Ward, President and CEO of Tidelands Oil & Gas Corporation, said,
"Tidelands has retained Ritch, Heather Y Mueller to utilize its local (Mexico)
understanding of regulatory issues and other key elements in this region that
could otherwise create obstacles for Tidelands moving forward. Our
association with Ritch, Heather Y Mueller will allow us to navigate through
any aspects of our Projects with relative ease."
Ritch, Heather Y Mueller's review and report of Tidelands' projects will
be completed within the next sixty days.
Tidelands will continue to update its shareholders as developments
warrant.

About Tidelands Oil & Gas Corporation
Tidelands Oil & Gas Corporation, San Antonio, Texas, focuses its business
on international pipeline crossings, gas processing plants and gas storage
facilities. Through its nine directly and indirectly owned subsidiaries,
Tidelands offers a full suite of services and has the capability to satisfy a
wide variety of customer needs, both domestically and internationally. For
more information about the Company, please visit
http://www.tidelandsoilandgas.com .

This press release may be deemed to contain certain Forward-Looking
Statements with respect to the Company that are subject to risks and
uncertainties that include, but are not limited to, those identified in the
Company's press releases or discussed from time to time in the Company's
Securities and Exchange Commission Filings. Actual results may vary.

Investor Contact: Barry Gross
Gross Capital, Inc.
361-949-4999
[e-mail]
Company Contact: Michael Ward
Tidelands Oil & Gas
210-764-8642
[e-mail]



SOURCE Tidelands Oil & Gas Corporation

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