EXHIBIT 99.1


NEWS RELEASE

[TRANSTEXAS GAS CORPORATION LOGO]

FOR IMMEDIATE RELEASE
CONTACT: John Riney or Simon Ward

Phone:   (281) 987-8600
Fax:     (281) 986-8865
Email:   ir@transtexasgas.com


                  TRANSTEXAS FILES JOINT PLAN OF REORGANIZATION
                     UNDER CHAPTER 11 OF THE BANKRUPTCY CODE


         HOUSTON, TX MAY 2, 2003 - TRANSTEXAS GAS CORPORATION, ("TransTexas" or
the "Company")(OTCBB:TTXGQ), today announced that on May 1, 2003, the Company,
together with its direct wholly owned subsidiaries, Galveston Bay Processing
Corporation and Galveston Bay Pipeline Company, filed its Joint Plan for
Reorganization for Debtors under Chapter 11 of the Bankruptcy Code (the "Plan")
dated as of May 1, 2003, and Joint Disclosure Statement for debtors' Joint
Chapter 11 Plan of Reorganization under Chapter 11 of the Bankruptcy Code (the
"Disclosure Statement"), dated as of May 1, 2003, in Case No. 02-21926 (Jointly
Administered) in the United States Bankruptcy Court for the Southern District of
Texas, Corpus Christi Division (the "Bankruptcy Court") [The Plan and Disclosure
Statement are available on the Company's website.]

         A Disclosure Statement Hearing is scheduled at 9:00 a.m. (Central Time)
on May 30, 2003, in the Bankruptcy Court. The time fixed for filing objections
in the Bankruptcy Court to the Disclosure Statement is May 23, 2003.

         TransTexas is engaged in the exploration, production and transmission
of natural gas and oil, primarily in South Texas, including the Eagle Bay field
in Galveston Bay and the Southwest Bonus field in Wharton County. Information on
the Company, including the Company's filings with the Securities and Exchange
Commission may be found on the internet at http://www.transtexasgas.com.

                                       ###

Except for the historical information contained herein, the matters set forth in
this news release may contain forward looking statements that involve certain
risks and uncertainties that could cause actual results to differ materially
from those in the forward looking statements. Potential risks and uncertainties
include such factors as the ability to obtain debtor-in-possession financing
approved by the Bankruptcy Court, the competitive nature of the oil and gas
exploration, development and production industries and the uncertainties
associated with the drilling, completing and operating of natural gas and oil
wells. Investors are directed to consider such risks and other uncertainties
discussed in documents filed by the Company with the Securities and Exchange
Commission.


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