Oil and Energy

Stidham replaces Dean Elliott as president and as a member of the company’s Board of Directors. X-Change has accepted the resignations of Elliott and Bert Maxwell, both former directors of the corporation. Elliott and Maxwell plan to pursue other business interests.

This is the second stint as president of X-Change Corporation for Stidham, one of the company’s founders. Yesterday, the company’s stock traded to a high of $2.00 on substantially higher than average volume, before it settled down to a closing price of $1.80, a 36-percent boost over Friday’s close of $1.32.

In other news, X-Change Corporation drector Robert Barbee announced plans to treat one the company’s Snoddy wells in the East Texas Oil Field this week with Micro-TES’ PARAGONE poduct. PARAGONE solubilizes paraffin and asphaltene in formations, well bores, pumps, flow lines, heater treaters and storage tanks. The product reduces or eliminates emulsion, BS&W, corrosion, scale, hydrogen sulfide and oil carry over. PARAGONE releases drilling fluid, frac gels, polymers and soap from the formation. It increases API gravity, oil production, gas production and water injection rates. Treatments with the product have resulted in significant savings for operators when compared to the cost of chemical treatments.

Recent PARAGONE treatments in three other X-Change Corporation wells have resulted in significant yield increases, pushing daily production levels by as much as ten-fold. Since initial treatment, the wells have settled down to respectable four-fold increases over previous flow rates.

The X-Change Corporation will withhold actual production figures on this Snoddy well until the well has settled down and flow rates are adjusted.

The X-Change Corporation will also continue to develop 22 wells in east Texas identified as having substantial proven reserves. These equipped wells are in good condition and prompt resumption of production will create immediate cash flow for the company.

Forward-Looking Statements
Except for historical information contained herein, the statements made in this release onstitute forward-looking statements (including within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 934). Such forward-looking statements are based on current expectations that are subject to signifcant risks and uncertainties that are difficult to predict, including statements regarding the intent, belief, or current expectations of the X-Change Corporation. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of the X-Change Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by the X-Change Corporation, which are on file with the U.S. Securities and Exchange Commission and may be accessed at http://www.sec.gov or the X-Change Corporation’s investor relations web page at http://www.xchangecorp.com/index.html, and specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking tatements. The X-Change Corporation disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release.

For further information, please contact Michael P. McInerney at (972) 747-1206.

Source X-Change Corporation