Texas Coastal Energy to acquire Alvey Oil Field business of Cyber Enviro-Tech.

Texas Coastal Energy, an oil and gas company focused on revitalizing proven energy assets across the Texas Gulf Coast, agreed to acquire Alvey Oil Field business of Cyber Enviro-Tech, a technology company focused on environmental remediation solutions for various industries, including agriculture and mining. Financial terms are not disclosed. "This transaction represents a significant strategic step forward for CETI and our shareholders. 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," Kim D. Southworth, Cyber Enviro-Tech Co-Founder and CEO.