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NOTICE OF GUARANTEED DELIVERY
TO TENDER SHARES OF COMMON STOCK
of
TEXOIL, INC.
Pursuant to the Offer to Purchase
Dated January 24, 2001
by
OEI ACQUISITION CORP.,
a wholly-owned subsidiary of
OCEAN ENERGY, INC.
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This form, or one substantially equivalent hereto, must be used to accept
the Offer (as defined below) if certificates for shares of common stock, par
value $.01 per share (the "Common Shares"), of Texoil, Inc., a Nevada
corporation (the "Company"), are not immediately available or if the procedure
for book-entry transfer cannot be completed on a timely basis or time will not
permit all required documents to reach the Depositary (as described herein) on
or prior to the Expiration Date (as defined in the Offer to Purchase). This form
may be delivered by hand, facsimile transmission or mail to the Depositary. See
Section 3 -- "Procedure for Tendering Shares" of the Offer to Purchase, dated
January 24, 2001 (the "Offer to Purchase").
The Depositary for the Offer is:
EQUISERVE TRUST COMPANY, N.A.
By Mail: By Hand:
EquiServe Trust Company, N.A. Boston EquiServe LP
Corporate Actions c/o Securities Transfer & Reporting Services,
P.O. Box 43014 Inc.
Providence, RI 02940-3014 100 William Street, Galleria
New York, NY 10038
By Facsimile Transmission: By Overnight Courier:
(781) 575-2233 EquiServe Trust Company, N.A.
Investor Relations Telephone: Corporate Actions
(781) 575-3120 150 Royall Street
Canton, MA 02021
DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS, OR
TRANSMISSION OF INSTRUMENTS VIA A FACSIMILE NUMBER, OTHER THAN AS SET FORTH
ABOVE, DOES NOT CONSTITUTE A VALID DELIVERY.
THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO BE USED TO GUARANTEE
SIGNATURES. IF A SIGNATURE ON A LETTER OF TRANSMITTAL IS REQUIRED TO BE
GUARANTEED BY AN "ELIGIBLE INSTITUTION" UNDER THE INSTRUCTIONS THERETO, SUCH
SIGNATURE GUARANTEE MUST APPEAR IN THE APPLICABLE SPACE PROVIDED IN THE
SIGNATURE BOX ON THE LETTER OF TRANSMITTAL.
THE GUARANTEE ON THE REVERSE SIDE MUST BE COMPLETED.
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LADIES AND GENTLEMEN:
The undersigned hereby tenders to OEI Acquisition Corp., a Nevada
corporation, upon the terms and subject to the conditions set forth in the Offer
to Purchase and in the related Letter of Transmittal (which, together with all
amendments or supplements thereto, constitute the "Offer"), receipt of which is
hereby acknowledged, the number of Common Shares of the Company indicated below,
pursuant to the guaranteed delivery procedure set forth in Section
3 -- "Procedure for Tendering Shares" of the Offer to Purchase.
Number of Common Shares:
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Certificate No(s). (if available):
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If Common Shares will be tendered by book-entry transfer:
Account No:
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Dated:
------------------------------------- , 2001
Name of Record Holder(s):
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Address:
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(Zip Code)
Area Code and Telephone No:
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SIGNATURE(S):
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GUARANTEE
(NOT TO BE USED FOR SIGNATURE GUARANTEE)
The undersigned, a bank, broker, dealer, credit union, savings association
or other entity which is a member in good standing of a recognized Medallion
Program approved by the Securities Transfer Association Inc., including the
Securities Transfer Agents Medallion Program, the New York Stock Exchange
Medallion Signature Guarantee Program or the Stock Exchange Medallion Program or
any other "eligible guarantor institution" as defined in Rule 17Ad-15 under the
Securities Exchange Act of 1934, as amended, guarantees the delivery to the
Depositary of either the Common Shares tendered hereby, in proper form for
transfer, or a Book-Entry Confirmation (as defined in the Offer to Purchase),
together with a properly completed and duly executed Letter of Transmittal (or
manually signed facsimile(s) thereof) with any required signature guarantees, or
an Agent's Message (as defined in the Offer to Purchase) in the case of a
book-entry delivery of Common Shares, and any other required documents all
within three Nasdaq Small Cap Market trading days of the date hereof.
Name of Firm:
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AUTHORIZED SIGNATURE:
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Name:
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(Please Print or Type)
Title:
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Address:
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Dated:
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NOTE: DO NOT SEND SHARE CERTIFICATES WITH THIS NOTICE OF GUARANTEED
DELIVERY. SHARE CERTIFICATES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL.
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