CYBER ENVIRO-TECH, INC. ANNOUNCES SPINOFF OF ALVEY OIL FIELD TO TEXAS COASTAL ENERGY, CORP.

Rhea-AI Summary

Cyber Enviro-Tech (OTCQB: CETI) announced the spinoff of its Alvey Oil Field operation to Texas Coastal Energy Corp (TCEC), which recently merged with West Texas Resources (OTCID: WTXR). The Alvey Oil Field contains an estimated 44 million barrels of recoverable reserves.

WTXR, under the leadership of Chairman & CEO Donald H. Goree, brings 45 years of oil and gas expertise and currently owns 59 fully equipped wells with an estimated 77 million barrels of recoverable oil and 120 billion cubic feet of natural gas. The company maintains a 100% working interest across its properties.

This strategic move allows CETI to focus on its core environmental remediation business while maintaining potential upside through equity in WTXR's expanded operations.

Positive

• CETI retains opportunity to benefit from Alvey Oil Field's future value through equity stake
• Strategic alignment allows CETI to focus on core environmental remediation business
• Alvey Field adds 44 million barrels of recoverable reserves to acquiring company
• Asset transferred to experienced management with 45 years of industry expertise

Negative

• CETI divests significant oil asset from its portfolio
• Exact equity stake and financial terms not disclosed

SCOTTSDALE, Ariz., Sept. 16, 2025 /PRNewswire/ -- Cyber Enviro-Tech, Inc. (OTCQB: CETI), an environmentally driven company specializing in the remediation of industrial wastewater, oil, sludge, and soil, today announced the spinoff of its Alvey Oil Field operation to Texas Coastal Energy, Corp. (TCEC). 

While this transaction was being negotiated, TCEC completed a reverse merger through which it assumed control and operational stewardship of West Texas Resources, Inc. (OTCID: WTXR). Operating under the WTXR banner, the company has expanded its portfolio of producing oil and gas wells and reinforced its strategy to revitalize legacy oil fields across Texas. The acquisition of the Alvey Oil Field further accelerates WTXR's growth trajectory. 

The Alvey Oil Field was originally acquired by CETI as a pilot site to test and refine its proprietary oil production enhancement technologies. Those efforts proved instrumental in demonstrating broader applications—extending beyond oil field optimization into large-scale remediation of contaminated oil, sludge, soil, and wastewater. As CETI's technology and strategy have evolved, the Alvey asset no longer aligns with the company's core focus. By spinning off the Alvey asset, CETI can fully dedicate its resources to advancing a growing portfolio of domestic and international remediation projects. At the same time, CETI and its shareholders retain the opportunity to participate in the future value of the Alvey Oil Field through its continued development by a company with deep expertise in oil and gas production—ensuring the asset has the best chance to realize its full potential while CETI concentrates on its primary growth markets.

Under the leadership of Texas Oilman Donald H. Goree, now Chairman & CEO, of West Texas Resources, Inc, brings more than 45 years of oil and gas knowledge and experience to the Company. Mr. Goree has founded multiple publicly traded companies, including one previously listed on the NYSE, and has extensive experience in corporate finance. WTXR is executing a roll-up strategy, targeting oil and gas fields with proven, recoverable reserves. The company has acquired 59 fully equipped wells with supporting infrastructure, positioning it for immediate scalability through modern recovery technologies. 

WTXR holds an average 100% working interest across its properties, independently estimated to contain more than 77 million barrels of recoverable oil and 120 billion cubic feet of natural gas. The addition of the Alvey Oil Field, with an estimated 44 million barrels of inground recoverable reserves, significantly strengthens WTXRs portfolio of producing assets. 

"This transaction represents a significant strategic step forward for CETI and our shareholders," said Kim D. Southworth, Co-Founder and CEO of Cyber Enviro-Tech.
"By exchanging the Alvey Oil Field for equity in a company with the expertise to fully optimize its reserves, we can sharpen our focus on the rapidly growing global demand for environmental remediation projects. At the same time, we anticipate this structure will allow us to still benefit from the long-term value of the Alvey asset, which will be developed alongside a diversified portfolio of producing oil and gas properties under experienced industry leadership."

Mr. Goree added: "We see tremendous opportunity in acquiring underdeveloped oil and gas assets with untapped potential. The Alvey Oil Field is an ideal fit for our expansion strategy, and we are eager to unlock its long-term value." 

About Cyber Enviro-Tech, Inc. 
Cyber Enviro-Tech, Inc. (CETI) is an emerging leader in environmental cleanup sector. Using proprietary bio remedial materials and advanced technologies, CETI eliminates hazardous contaminants from sludge ponds, oil refinery slop, wastewater, and soil. CETI's solutions combine Fourth Industrial Revolution technologies with biochemical processes to address oil spills, sludge ponds, storage tanks, mining sites, and other industrial contamination sources. 

About West Texas Resources, Inc. 
West Texas Resources, Inc. (WTXR) is an energy company led by Chairman & CEO Donald H. Goree. specializing in the acquisition and development of oil and gas leases, WTXR owns 59 fully equipped wells with an estimated 77 million barrels of recoverable oil and 120 billion cubic feet of natural gas reserves. WTXR is committed to creating long-term value by revitalizing legacy oil fields through modern recovery technologies and disciplined growth strategies. 

Forward-Looking Statements 
This press release contains forward-looking statements that reflect CETI's and WTXR's expectations regarding future financial performance, project developments, regulatory approvals, and business strategies. These statements are not guarantees of future results, and actual outcomes may differ due to various risk factors, including regulatory changes, market fluctuations, and operational challenges. Neither CETI nor WTXR assumes an obligation to update any forward-looking statements to reflect changes in circumstances after the date of this release.

Contact: 
Winston McKellar 
Director of IR/PR 
Cyber Enviro-Tech, Inc. 
6991 E. Camelback Rd., Suite D-300 
Scottsdale, AZ 85251 
Website: www.cyberenviro.tech 
Tel: 866.687.6856 

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SOURCE Cyber Enviro-Tech

FAQ

What is the significance of CETI's Alvey Oil Field spinoff to Texas Coastal Energy?

The spinoff allows CETI to focus on its core environmental remediation business while retaining potential upside through equity in WTXR, which will develop the field's 44 million barrels of recoverable reserves.

How many oil wells does West Texas Resources (WTXR) currently operate?

WTXR operates 59 fully equipped wells with supporting infrastructure, containing over 77 million barrels of recoverable oil and 120 billion cubic feet of natural gas.

Who is leading West Texas Resources (WTXR) after the merger?

Donald H. Goree serves as Chairman & CEO of WTXR, bringing 45 years of oil and gas experience and has previously founded multiple public companies, including one listed on the NYSE.

What was the original purpose of CETI's Alvey Oil Field?

The Alvey Oil Field was initially acquired as a pilot site to test and refine CETI's proprietary oil production enhancement technologies and demonstrate broader applications in remediation.

What is West Texas Resources' (WTXR) current working interest in its properties?

WTXR maintains an average 100% working interest across its portfolio of oil and gas properties.