Treaty Energy Narrows Down Site for First Well in Belize
Marketwire “Press Releases “
HOUSTON, TX — (MARKET WIRE) — 11/11/10 — Treaty Energy Corporation (OTCBB: TECO), a growth-oriented energy company in the oil and gas industry, today posted the initial geoscience analysis prepared by R.S.S., its geoscience contractor, of a 2,000 acre or 1% portion of the 200,000 acre land based part of the overall 2,000,000 acre Princess concession.
The geoscience analysis report can be viewed by going to the Treaty Energy website at: http://www.treatyenergy.com/flashsite/index-3 (Click on “Belize”)
Background on Belize : Currently there is one company, Belize Natural Energy Ltd. (BNE), actively exploring its onshore concession. BNE started exploration in 2005 and as of May 2009 were producing an average of 5000 barrels of high grade crude oil per day (API 40.8 Sulphur 0.89%) out of ten wells that they have drilled.
Andrew Reid , Chairman and CEO of Treaty Energy , stated, “The analysis prepared by geoscience contractor on this small part of the Princess concession clearly enforces our confidence in the potential for significant oil production from our Joint Venture in Belize . It is our intention to lock into our first well location and to seek necessary drilling permits on a timely basis.”