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TEXOIL INC. FILES REGISTRATION STATEMENT

 HOUSTON, Dec. 10 /PRNewswire/ -- Texoil Inc. ("Texoil") announced today that it filed a registration statement with the United States Securities and Exchange Commission covering an underwritten public offering of 1,000,000 units. Each unit will consist of two shares of Texoil's common stock, par value $.01 per share, one Class A Warrant to purchase one share of Texoil's common stock, and one Class B Warrant to purchase one share of Texoil's common stock. It currently is anticipated that the initial public offering price for the units will be $6.00 to $8.00, and that the initial exercise price of the Class A and Class B Warrants will be $3.50 to $5.50 and $4.50 to $6.50, respectively. Toluca Pacific Securites Corp. will be the managing underwriter. Texoil proposes to offer the units to raise new equity financing.
 The registration statement relating to these securities which has been filed with the Securities and Exchange Commission has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 A preliminary prospectus may be obtained from Texoil Inc., 1600 Smith, Suite 4000, Houston, TX 77002, Attention: D. Hughes Watler Jr., or from Toluca Pacific Securites Corp., 3500 W. Olive, Suite 1190, Burbank, CA 91505, Attention: Walter Hendricks.
 Texoil Inc. is an independent energy company engaged in oil and gas exploration and production.
 -0- 12/10/93
 /CONTACT: D. Hughes Watler Jr., CFO, 713-652-5741/


CO: Texoil Inc. ST: Texas IN: OIL SU: OFR

MF-JL -- LA045 -- 2851 12/10/93 19:29 EST
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Publication:PR Newswire
Date:Dec 10, 1993
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