Financial Highlights 1999
	Texoil,Inc.
	Quarterly Income Statements
	For 1999
	(In thousands, except per share data)
	1st Qtr 99	2nd Qtr 99	3rd Qtr 99	4th Qtr 99	1999
REVENUES
Oil & Gas Sales	$    3,827	$     4,845	$         5,253	$    8,608	$ 22,533
Operator & Management Fees	242	237	241	275	995
Interest and Other	4	8	69	95	176
Total Revenues	$    4,073	$     5,090	$         5,563	$    8,978	$ 23,704
COSTS & EXPENSES
Operating Expenses	$    1,500	$     1,534	$         1,561	$    3,029	$   7,624
Workover	2	44	41	91	178
Production Taxes	274	338	435	774	1,821
General & Administrative	447	449	507	597	2,000
DD & A	1,025	1,069	1,391	1,371	4,856
Write-Down / Impairment	-	-	-	-	-
Interest	547	535	759	641	2,482
Other	-	-	-	-	-
Total Expense	$    3,795	$     3,969	$         4,694	6,503	18,961
Operating Income (Loss)	$        278	$     1,121	$            869	$    2,475	$   4,743
Income Taxes	(105)	(424)	(328)	(734)	(1,591)
Net Income (Loss)	$        173	$         697	$            541	$    1,741	$   3,152
Preferred Stock Dividend	-	-	-	(280)	(280)
Net Income (loss) avaliable to Common	$        173	$         697	$            541	$    1,461	$   2,872
EPS	$       0.03	$        0.11	$           0.08	$       0.22	$      0.44
Outstanding Shares	6,549	6,555	6,555	6,555	6,555
Diluted weighted average shares	6,853	6,722	6,738	7,755	7,755
Diluted net income per share	$       0.03	$        0.10	$           0.08	$       0.22	$      0.41
EBITDA	$    1,850	$     2,725	$         3,019	$    4,487	$ 12,081
Production Information
Gas Production (MMcf)	910	1,051	1,068	1,190	4,219
Oil Production (MBbls)	168	175	160	259	762
Average price gas (per Mcf)	$       2.09	$        2.30	$           2.51	$       2.82	$      2.39
Average price oil (per Bbl)	$    11.09	$     15.80	$         16.11	$    20.29	$   16.32
	Texoil,Inc.
	Condensed Balance Sheet Data
	For 1999/ 2000
	(In thousands, except per share data)
	1st Qtr 99	2nd Qtr 99	3rd Qtr 99	4th Qtr 99	1999
Assets
Current Assets	$    3,742	$     4,618	$         6,898	$    7,842	$   7,842
Net Property, Plant & Equipment	44,799	44,923	49,605	$  57,226	57,226
Other Assets, net	680	715	475	$        191	191
Deferred Tax Asset	684	260	-	$           -	-
Total Assets	$  49,905	$   50,516	$       56,978	$  65,259	$ 65,259
Liabilities & Shareholder Equity				$           -
Current Liabilities	$    6,310	$     3,842	$         5,297	$    7,765	$   7,765
Long-Term Debt	22,117	24,500	28,900	$  22,000	22,000
Deferred Tax Liability	-	-	68	$        802	802
Convertible Subordinated Notes	10,000	10,000	10,000	$           -	-
Shareholders equity	11,478	12,174	12,713	$  34,692	34,692
Total Liabilities & Equity	$  49,905	50,516	56,978	$  65,259	65,259