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
- Fuel Truck
- Flat Bed Truck – 28 foot
- Chevrolet Duramax Crew Cab Pickup – 4 WD
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV