July 17, 2007 11:13 ET

TexCom Plans Oilseed Crushing Plant and Biodiesel Production in Paraguay

HOUSTON, TX--(Marketwire - July 17, 2007) - TexCom, Inc. (PINKSHEETS: TEXC) announced today that it has signed a letter of intent to acquire Biodiesel International Corp. (BIC), and is developing a plan to build an integrated oilseed crushing and biodiesel production facility in Paraguay, South America.

The Principals of BIC are of Paraguayan descent and have been engaged in planning, market analysis and creation of working relationships with certain key counterparties and government agencies in order to determine the economic and commercial viability of the project at a site in Paraguay. These efforts have resulted in very positive interest and support from the agricultural industry, construction companies and government ministries in Paraguay.

Paraguay produces over 6 million tons of soybeans annually and is devoting more acreage to sunflower and canola. The majority of the country's existing oilseed production is currently exported to international markets.

An attractive business climate and tax structure, coupled with an abundance of currently cultivated arable land conducive to production of oilseeds, were the key features that precipitated TexCom's interest in the proposed Paraguayan project.

The facility, as it is currently contemplated, would process 2,000 metric tons of oil seeds per day, yielding approximately 136,000 metric tons (approximately 39 Million Gallons) of biodiesel and 560,000 metric tons of soy meal pellets per year. Initial feedstock will consist mainly of soybeans that are grown in the immediate area of the proposed production plant in the Provinces of Itapua and Alto Parana.

Texcom has engaged Stancil and Co. of Irving, Texas to conduct a market and economic feasibility study and review of technology, scheduled to be completed within 60 days.

BIC Principals and Dr. Louis Ross, President of Texcom, Inc., are back from an introductory due diligence tour in Paraguay that confirmed a strong opportunity for development of the biodiesel industry in Paraguay. Texcom and BIC have begun discussions with international lenders and US based investment bankers to structure financing for the crusher and biodiesel project. Pending financial commitments, construction contract and all necessary approvals, Texcom would begin construction of the facility as soon as the second quarter of 2008.

About TexCom, Inc.

TexCom, Inc. is headquartered in Houston, Texas and is an early-stage, growth-oriented company with its primary focus on the production of Biodiesel. TexCom is also expanding its interests in liquid waste disposal servicing the petrochemical and drilling industries.

For further information on TexCom Resources please visit: http://www.texcomresources.com

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