LAS VEGAS, Aug. 18, 2011 /PRNewswire/ -- Texas Wyoming Drilling, Inc. (OTC: TWDL) announces that it entered into a Joint Venture Agreement with Blue Earth Resources, Inc. (OTC: CUYC) on August 12, 2011. This 50/50 joint venture will give TWDL the working capital needed to move ahead on the development of the Yellow Jacket property. TWDL's Board of Directors made the decision that this alignment with CUYC would be in the best interest of both our company and investors. It will give CUYC a 50% interest in the ownership of Yellow Jacket #108, and all other Yellow Jacket properties to which TWDL has an option. Pursuant to the Joint Venture Agreement, the companies will be sharing revenues and expenses on this project on a 50/50 basis both currently and in the future.

This joint venture became advantageous for TWDL, in part due to the extensive additional costs that have been created by environmental rules. Most significantly, the inspection of every shovel to be mined must be inspected in advance for the presence of protected species, such as certain turtles. Once identified, additional costs are incurred for the actual removal of the animals.

Also, CUYC will be advancing certain funds that will allow TWDL to complete the NI 43-101 report and all other regulatory requirements of the Bureau of Land Management. It is the intention of both companies to actively mine the reserves once the NI 43-101 has been completed. Alfredo Navarro, President and CEO of TWDL stated that the financial resources of CUYC will facilitate raising the necessary working capital that it requires to both develop the Yellow Jacket property and the Blue Jacket property.

Notably, this joint venture will not cause a decrease in TWDL assets as reported on their current balance sheet since no value has been shown for the resources located on the Yellow Jacket property.

Blue Earth Resources, Inc. is the parent company of PetroResources, Inc. which is in the business of purchasing and managing royalties, override royalties and non-operating interests in producing oil and gas well properties. PetroResources, Inc. currently owns interest in excess of 400 properties located throughout the United States.

Al Roensch, Media and Investor Relations Contact
(707) 226-1445
[ ARoensch@aol.com ]

Cautionary Disclaimer:

The statements made in this Press Release contain "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statement regarding the intent, belief or current expectations of Texas Wyoming Drilling, Inc. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

SOURCE Texas Wyoming Drilling, Inc.

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Texas Wyoming Drilling, Inc. Enters Into a Mining Joint Venture With Blue Earth Resources, Inc.

Texas Wyoming Drilling, Inc. Enters Into a Mining Joint Venture With Blue Earth Resources, Inc.