HOUSTON, May 9, 2011 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today announced that it has completed the organization of its new Belizean operating subsidiary, Treaty Belize Energy Limited.
Andrew V. Reid, Treaty Energy's CEO, noted, "All of our legal filings related to the formation of this new subsidiary will be posted on the Treaty Energy website ( www.treatyenergy.com) within a day or so."
During this past week Mr. Reid has been in Belize reviewing all areas of the projected well sites, meeting with the Environmental department, and the Geology and Petroleum department to review all paperwork, filings and processes that Treaty will carefully adhere to as the Princess/Treaty joint venture moves toward drilling its first wells in Belize.
Mr. Reid indicated that Treaty Belize Energy Limited has established its corporate office in Belize at the following address:Treaty Belize Energy LimitedNewton Barracks King Park, Suite 125 Belize City, Belize, Central America The Company will be hiring a permanent Belizean office staff that will be ready to move into its new office by the end of May. In addition, the Company has established a field operations office that is a three hour drive from Belize City. This facility is close to the oil fields to be developed, and is located at the following address: Treaty Belize Energy LimitedField Operations HeadquartersAcross from the Blue LagoonPlacencia Village, Stann Creek District Belize, Central America About Treaty Energy Corporation Treaty 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. For more information go to: www.treatyenergy.com 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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