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TheStreet Open House

Treaty Energy Adds To Belize Equipment

Stocks in this article: TECO

NEW ORLEANS, July 12, 2011 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today reported that it has acquired additional equipment for its shipment to support the Belize Oil & Gas project.

Andrew V. Reid, Chairman and CEO of Treaty Energy Corporation, stated, "Treaty has acquired two additional pieces of equipment that will be shipped to Belize.  The first is a 2,800 gallon fuel truck that will be used to transport and supply diesel fuel to drilling equipment and generators that require significant amounts of fuel to be on site while drilling the new Treaty wells."

Mr. Reid added, "In addition to the fuel truck is a 28 foot flat bed truck that will be used to carry multiple items back and forth between drilling locations, such as drilling pipe, casing pipe, and blow out preventers."

The addition of these two vehicles will reduce operating cost and allow for Treaty Energy to control scheduling which in turn will avoid costly delays in the drilling schedules and reduce dependence on outside contractors for time sensitive supplies.  

Mr. Reid stated, "As of Monday, July 11th, the Bulldozer and Backhoe, mentioned in an earlier release, arrived at the shipping site in Mobile, Alabama.  The drilling rig is in transit and to be at the shipping site by early on Tuesday, July 12th.  The two trucks being added to the shipment will be delivered to the shipping site in Mobile by later in the day."

The latest from the shipping company is that loading of the ship is on the 13th through the 15th of July.  The ship will leave shortly thereafter and be in Belize in 5 to 8 days, depending on weather.

Treaty Energy is in the process of hiring a U.S. operator to go to Belize to operate the heavy equipment to prepare the well pads and access roads.  Local labor will be hired to assist in the pad and access road construction as needed.  Once site preparation is completed Treaty Energy Drilling LLC, the company's wholly owned drilling subsidiary, will commence to drill the wells.  

To summarize, Treaty will send the following equipment on its first shipment to Belize by sea out of Mobile:

  • Drilling Rig
  • Bulldozer
  • Backhoe
  • Fuel Truck
  • Flat Bed Truck – 28 foot
  • Chevrolet Duramax Crew Cab Pickup – 4 WD

Mr. Reid stated further, "The Belize project is moving forward expeditiously.  I will continue to update Treaty Energy stakeholders as any relevant news is available."

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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