EXHIBIT 21

                                  SUBSIDIARIES

1.       Pioche-Ely Valley Mines, Inc. is a Nevada corporation doing business
         under its corporate name. The Company beneficially owns approximately
         51% of the capital stock of Pioche-Ely Valley.

2.       American Shield Refining Company is a Texas corporation doing business
         under its corporate name.

3.       Texas Oil and Chemical Co. II, Inc. is a Texas corporation doing
         business under its corporate name. American Shield Refining Company
         owns 100% of the capital stock of Texas Oil and Chemical.

4.       South Hampton Refining Co. is a Texas corporation doing business under
         its corporate name. Texas Oil and Chemical Co. II, Inc. owns 100% of
         the capital stock of South Hampton.

5.       Gulf State Pipe Line Company is a Texas corporation doing business
         under this corporate name. South Hampton Refining Co. owns 100% of the
         capital stock of Gulf State.

6.       Productos Quimicos Coin, S.A. de C.V. is a Mexico corporation doing
         business under its corporate name. Texas Oil and Chemical Co. II, Inc.
         owns 92% of the capital stock of Productos Quimicos Coin, S.A.