Texas Vanguard Oil Company Releases Third Quarter Results

November 16, 2011

Texas Vanguard Oil Company (OTCQB: TVOC.PK) saw revenues grow 7% to $1.7 million for its third quarter ended September 30, 2011.  Net earnings for the period increased 45% to $349 thousand or $0.25 per diluted share.

Revenues for the first nine months of 2011 rose 13% to $5.5 million and net earnings increased 37% to $948 thousand or $0.67 per diluted share.

Texas Vanguard Oil maintains a clean balance sheet with $8.8 million in cash and cash equivalents, $13.2 million in total assets and only $1.34 million in total liabilities.

According to a 13D filing, VN Capital Fund I LP now owns over 5% of the outstanding shares of TVOC.  VN Capital has been accumulating shares in the company since December 2009.

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