This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Treaty Energy Corporation Makes Progress On Texas Leases And Drilling Operations

Stocks in this article: TECO

NEW ORLEANS, June 8, 2011 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today announces progress on its lease acquisitions in Texas and its Texas Energy Drilling LLC business.

Andrew V. Reid, Chairman & CEO of Treaty Energy Corporation, stated, "On Monday, June 6th, two major events took place that will have a positive impact on our Company.  The first event was the filing of a $65,000 cash financial assurance bond with the Texas Rail Road Commission (RRC) for C & C Petroleum Management, LLC, a wholly owned subsidiary and the operating company for all of Treaty's wells and leases in Texas."

As of the posting of this bond with the RRC all P4's were filed on the existing leases, including the BARNES, LONG and HENDERSON leases.  Treaty Energy's President, Stephen L. York, stated, "I expect the initial transfers to show up over the next several days on the RRC public access website.  Treaty will then be allowed to sell the estimated 300-400 barrels of accumulated oil in our storage tanks.  In addition, Treaty will ramp up and continue to produce and sell oil as our storage tanks are continually replenished."

Mr. Reid stated further, "The second major event was the completion of the $50,000 payment on the 'GREAT EIGHT LEASES' purchased from attorney Richard C. Houston, Jr., as was announced in a prior news release on May 23, 2011."

Mr. York stated, "I am getting all the assignments completed with the Texas RRC and filing the P4's to transfer operations to C & C Petroleum Management, LLC, Treaty's operations entity.  As on the other leases, Treaty will start selling the current oil in the storage tanks after all of the assignments are completed."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs