NEW ORLEANS, July 18, 2011 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today reported on developments in Belize leading up to the implementation of its initial eight well drilling program.
Andrew V. Reid, Chairman and CEO of Treaty Energy Corporation, stated, "We are pleased to confirm that all things requested of Treaty by both the Belize Department of Environment and Department of Petroleum have now been completed and provided to the proper Belizean agencies and approved. In addition, we are elated that the Director of the Ministry of the Environment has signed off on our environmental checklist and now confirmed that Treaty may move forward and drill the initial eight wells identified by location in our drilling program."
Mr. Reid stated, "The Belize Minister of the Environment indicated that we should deliver the EIA report forthwith and prepare to immediately produce oil from the first well once drilling is completed. To accelerate this process we have retained an attorney from BNE to assist Treaty in finalizing the surface rental agreement for planned drill sites and communicate directly with Sir Manuel Esquivel and Board of Directors of the land owner. Furthermore, a local surveyor under contract with Treaty will complete the survey for our initial drill site this week."
Mr. Reid went on to say, "Our stakeholders are reminded that we established Treaty Belize Energy, Ltd. in May 2011 and located our corporate office in Belize City. In addition, we also equipped a field operations office in Placencia, Stann Creek District, Belize, close to the drilling sites to be developed, which are a three-hour drive south of Belize City."Treaty Energy has had meetings with a number of community leaders in areas where the Company intends to drill and is pleased to report that these community leaders are uplifted and energized with our intent and in particular that Treaty will be providing employment opportunities for numerous local Belizeans.