Texas Gulf Energy, Incorporated (OTCPK:TXGE) intends to spin off remaining 9% of Texas Gulf Oil & Gas Inc. on September 9, 2013. Each shareholder will receive Texas Gulf Oil & Gas shares pro-rata to their current ownership in Texas Gulf Energy as of the effective date. The spinoff is subject to a number of conditions, including the effectiveness of the Form 10 of Texas Gulf Oil & Gas, Inc to be filed with the SEC, a Private Letter Ruling from the IRS on the transaction, and other customary conditions.