West Texas Resources, Inc. (WXTR) announces Chairman's Spring 2026 letter to shareholders
MOMENTUM IN WEST TEXAS
WEST TEXAS RESOURCES INC. (OTCMKTS:WTXR)
BRENHAM, TX, UNITED STATES, May 28, 2026 /EINPresswire.com/ -- S P R I N G 2026 CHAIRMAN’S LETTER TO SHAREHOLDERS
Fellow Shareholders,
West Texas Resources, Inc. (OTC: WTXR) is entering a period of disciplined advancement across regulatory compliance, operational capability, and strategic growth. The purpose of this letter is to provide shareholders with an update on recent developments and the direction of the Company as we move into the second half of 2026. All statements herein are informational in nature and should be considered in the broader context of the Company’s public disclosures.
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Regulatory Compliance and Market Status
WTXR has completed all required updates with OTC Markets, including the Company Profile and financial reports for year end 2025 and Q1 2026. With these submissions current, the Company has been reinstated to OTC.ID and OTC.BB in the near term.
During May 2026, the Company observed increased open market trading activity in WTXR shares. This activity coincided with a notable rise in the share price. While market performance is influenced by many external factors, the Company acknowledges this development as a sign of renewed shareholder engagement.
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Operational Progress Through Texas Coastal Energy Inc.
Texas Coastal Energy Inc., WTXR’s wholly owned operating subsidiary, has filed to become a licensed oil and gas Operator in the State of Texas. Upon approval, Texas Coastal Energy expects to assume operational management of all WTXR oil and gas assets beginning June 2026.
This transition is intended to:
• Consolidate operational oversight
• Improve field level efficiency
• Support consistent production performance
• Strengthen long term asset stewardship
The Company views this step as foundational to its broader operational strategy.
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Audit Engagement and Pathway to Higher Reporting Standards
WTXR has engaged a nationally recognized accounting and PCOBA audit firm to conduct a full audit of the Company’s financial statements. This engagement is intended to support future filings with the U.S. Securities and Exchange Commission and to establish a framework for timely quarterly and annual reporting.
Completion of audited financials will also allow the Company to apply for uplisting to OTCQB, a tier that offers:
• Enhanced financial reporting standards
• Greater visibility within the investment community
• Eligibility for a broader range of institutional investors
• Improved liquidity potential for shareholders
This initiative reflects the Company’s commitment to transparency and structured corporate governance and maintains our path to a NASDAQ uplisting planned in 2027.
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Evaluation of Gulf Coast Acquisition Opportunity
WTXR’s technical team is currently evaluating a potential acquisition of multiple producing oil wells located along the Gulf Coast. The package under review includes:
• Approximately $185,000 per month in current oil sales revenue
• A newly refurbished Skytop double stack workover rig
• A full suite of ancillary tools and equipment
• Operational assets that could materially expand the Company’s production base
If pursued and completed, this acquisition could enable Texas Coastal Energy to perform in-house maintenance, repairs, and workovers, supporting more consistent production across WTXR’s asset portfolio. No assurance can be given that the transaction will be completed. The Company will provide updates as appropriate.
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Outlook
WTXR is focused on strengthening its regulatory standing, expanding operational capacity, and evaluating opportunities that align with disciplined growth. The Company believes that the steps taken in recent months establish a foundation for improved performance and long term value creation.
The Board and management team remain committed to the responsible, environmentally conscious development of the Company’s assets and to transparent communication with shareholders as WTXR advances into this next phase.
Thank you for your continued support.
Respectfully,
H.E. Donald H. Gorée, KGC
Chairman & President
West Texas Resources, Inc.
WestTexasResorcesInc.com
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Donald H. Gorée, KGC President
WEST TEXAS RESOURCES INC.
+1 713-252-6600
DG@TexasCoastalEnergy.com
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