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
TheStreet Open House

Treaty Energy Corporation Strikes Oil In Belize

Stocks in this article: TECO





NEW ORLEANS, Jan. 30, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) ( www.treatyenergy.com), a growth-oriented international energy company, today reported drilling success on its first oil well, SAN JUAN #2, in Belize, Central America.

The SAN JUAN #2 well is near Independence Village, Belize, located adjacent to the Port of Big Creek in the Stann Creek District.

Final phase of drilling this well commenced on January 24, 2012, after review and compliance with all government regulations, requirements and inspections by Belizean officials and permission granted. 

The initial casing (8 5/8 inch) was set and cemented in place using upgraded cement that was requested (H Grade).  Upon completion of the cementing process it was allowed to cure for more than 24 hours.

Once the cement was properly cured and inspected by government officials permission was then given to drill to depth on the well. 

All information compiled by Treaty engineers, geologists and its own accomplished oil industry veterans ( Steve York, Bill Harden) indicated that we would start to encounter shows of hydrocarbons around 1100 ft.

At 1235 ft hydrocarbons were detected in the form of a gas register.  This presence of C1-C4 gas readings indicated a geo-pressurized oil bearing zone/gas driven.  As drilling continued the indicator steadily increased from the depth of 1235 ft with readings being taken at 1 ft intervals. 

On site analysis of the cuttings by Advanced Geological Services, Treaty's "Mud Logging" equipment supplier and consultant revealed that hydrocarbons (Oil) were present in the cuttings samples.  Continued drilling showed a constant increase in hydrocarbon presence in the formation through 1290 ft, after which there was a steady decline.  This defined the producing zone to be 1235 ft – 1290ft.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

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