NEW ORLEANS, June 2, 2014 /PRNewswire/ -- Treaty
Energy Corporation (OTCQB: TECO)
(http://www.treatyenergy.com), a growth-oriented international
energy company, today announced that Aquinas Energy Resources, Inc.
(Aquinas) in Houston, Texas has
signed a Seismic Survey Contract involving the Belle Wisdom South
lease.
Treaty Energy announced the Farmout Agreement contracted with
Aquinas for a Four Well Farmout drilling program May 15th. The
Seismic Survey will be conducted by Leroy
Lee of American Seismic from Scottsdale, Arizona.
Chris D. Tesarski, Executive
Chairman of Treaty Energy, will work closely with Aquinas's
geologist and geophysicist Bill
Gaskin, to review and select the first two drill sites and
request a permit through the Texas Railroad Commission (TRRC)
immediately. The new seismic data should assist Treaty Energy in
providing the best site selections in order to maximize the
potential return on investment to shareholders at the lowest
possible risk.
This survey should take approximately two weeks, followed by
another two weeks for processing. It is now taking
approximately five to six weeks for a permit to be issued by the
TRRC. The current timeline calls for final permitting to be
obtained by the third or fourth week of July. It is anticipated
drilling of the first well could begin by the second week of
August. Treaty currently has a Wilson 42 Rig available with
the capability to drill to 7000 ft which meets the needs of the
Four Well Farmout.
Mr. Tesarski remarked, "I am extremely pleased at the progress
we are making and will continue to make as we systematically
develop our Four Well Farmout Agreement with Aquinas. I look
forward to working together with them as we assess other lease
opportunities. I think that this should be encouraging to our
shareholders, that when a company like Treaty makes changes in key
personnel, alters its business plan, and allows new opportunities
to take shape in such a professional manner that we truly are
listening to and valuing our shareholders. There is much work
ahead, but it is my goal to improve shareholder awareness of
company operations and increase shareholder value. This
project marks the beginning of a new Treaty."
Contact
Treaty Energy Corporation
Investor Relations
investors@treatyenergy.com
Tel: 504-301-4475
Fax: 504-324-0844
Company Links
Website:
http://www.treatyenergy.com
Facebook: https://www.facebook.com/TreatyEnergyCorp
Twitter: https://twitter.com/TreatyEnergyCo
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.
Treaty Energy Corporation (TECO) trades on the OTC.
Investors can find Real-Time quotes and market information for
Treaty Energy at http://www.otcmarkets.com/stock/TECO/quote
Forward-Looking Statements
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.
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SOURCE Treaty Energy Corporation