Effective June 20, 2013, David Mathews amicably resigned from his positions as Chief Executive Officer and President of Texas Gulf Energy, Incorporated. Also effective June 20, 2013, Mr. Mathews resigned as a member of the board of directors of the company. Effective June 20, 2013, the Board appointed Craig Crawford, the company's current Chief Financial officer and Chief Operating Officer, to also serve as the company's Chief Executive Officer and President on an interim basis until his successor is duly appointed.

Effective June 20, 2013, the Board appointed Pete Kappler to serve as the company's Corporate Secretary and Vice President. In connection with Mr. Kappler's appointment as Secretary, Denise Nelson will no longer serve as Corporate Secretary of the company, effective June 20, 2013.