Treaty Energy to Contract Major Oil Field Services Providers to Expedite its Belize Oil Well Program
NEW ORLEANS, July 5, 2012 /PRNewswire/ — Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a growth-oriented international energy company, announced today that its Chairman, Andrew V. Reid, is pleased to update shareholders and other interested parties regarding further progress in Belize.
Mr. Reid stated, “We have made the decision to use certain outside contractors to provide certain specialized services that we believe will prove expeditious, in contrast to our past practice of purchasing all needed equipment to internally provide services for our drilling program in Belize.”
Max Mohamed, Treaty’s Director of Operations in Belize, stated, “In order to more accurately define the size of the Stann Creek oil play that we are currently working on, we are seeking to permit and drill a total of six new wells that we believe will outline this play and then allow the potential of this oil play to be analyzed. A Reserve Report will then be issued to the GOB for their consideration and approval.”
Treaty Energy has representatives in Belize currently that are working to finalize a Perforating Services Agreement with Schlumberger Oil Field Services, and an Acid Pumping Services Agreement with Tucker Energy Services for the six planned wells.
Mr. Reid and Mr. Mohamed stated jointly, “We are very pleased to be able to work with Schlumberger and Tucker, two of the outstanding Oil Field Services Companies that are known worldwide for providing the highest quality of services to the Oil Industry.”
About Treaty Energy Corporation
Treaty, an international energy company, is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have “proven but undeveloped reserves” at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.
Statements herein express management’s beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company’s filings with the Securities and Exchange Commission, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
Contact: Osprey Partners Tel: 732-292-0982 Fax: 732-528-9065 firstname.lastname@example.org
SOURCE Treaty Energy Corporation