VHGI Energy LLC, a newly formed subsidiary of VirtualHealth Technologies Inc., Lexington, Ky., (OTCBB: VHGI) has formed a joint venture with privately held, Houston-based Gulf Coast Exploitation LLC to explore opportunities in the Texas Gulf Coast region.

VirtualHealth president Jim Renfro says, "After extensive due diligence, VHGI Energy has decided to move forward in the oil and gas sector. We feel that this area of industry is in line with our corporate objectives because of its significant growth opportunities. This opportunity with Gulf Coast Exploitation is our first of what we hope to be many for VHGI Energy and should enhance our ability to build our revenue streams."

VirtualHealth, which also owns a gold subsidiary, says it is planning to change its name to VHGI Holdings Inc.