NEW ORLEANS, March 23, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) ( www.treatyenergy.com), a growth-oriented international energy company, reports that Andrew V. Reid, its Chairman and Co-CEO is pleased to provide an update on Treaty's Belize operations on the Princess Concession.
Treaty Energy's stakeholders will find the following information either attached or linked to this release.
- A letter from the Princess Petroleum, Ltd Executive Director, Hamdi Karagozoglu, to Belize Geology and Petroleum Department updating the status of the SAN JUAN #2 and SAN JUAN #1 wells is reproduced below as Exhibit A. Go to the following link to view the original of the letter on the Treaty website: http://www.treatyenergy.com/files/Belize_Dept.pdf
- A letter from Treaty Energy's Chairman, Andrew V. Reid, to Princess Petroleum. Ltd's Executive Director, Hamdi Karagozoglu, outlining a contract that Treaty signed with RedRock Exploration, Inc., is reproduced below as Exhibit B. An SEC Form 8-K filing will be made today on this significant event and will include the contract with RedRock Exploration, Inc.
The Company indicated that Max Mohamed, President of RedRock Exploration will be taking residence in Belize to oversee all operations there for Treaty Energy. Max will answer to Treaty leadership, Andrew V. Reid, Bruce Gwyn, and Treaty Energy's President, Stephen L. York.
You will find information on Max Mohamed's background and experience below. Max was on site during the drilling of SAN JUAN #2 and made the assessment of the mudlog that shows of oil were found, a result that was announced by Treaty without prior approval of the Government of Belize, which the Company hereby acknowledges was a mistake on its part to do so without prior approval from Andre Cho, head of the Geology Department, and/or Hon. Gaspar Vega, Deputy Prime Minister and Minister of Natural Resources and the Environment.Mr. Reid stated, "I am excited to have Max Mohamed and RedRock Exploration working with Treaty and look forward to quickly moving forward in Belize as we take delivery of our new 'wire-line logging truck and equipment' and get the large Schramm Rig that we already have in Belize working on the Stann Creek Field to move forward with the drilling of SAN JUAN #1." Max Mohamed – Geologist - Bio of Background and Experience: Max Mohamed is an independent oil and gas consultant and partner in three small independent oil and gas companies with assets in U.S. South Texas, (primarily the Austin Chalk), Central Oklahoma, and North East Kansas. He currently serves as Vice President at Texokan Operating and President at RedRock Exploration. He is also sole owner at Advanced Geological Services, a mudlogging and wellsite consulting company operation in Texas and now establishing a presence in Belize. His prior positions include Vice President at Stonegate Operators where he was responsible for production and development of assets in the Austin Chalk and San Miguel plays in South Texas. Prior to his position at Stonegate, Max served as Geologist at Knight Energy where he was responsible for evaluating and developing assets in the Fort Worth Basin/Bend Arch plays in Stephen and Eastland counties. He has also worked on projects in the Permian Basin ( West Texas and New Mexico) and the Barnett Shale of North/Central Texas. Max also worked for several mudlogging companies including Core Laboratories and NL Bariod in the Permian Basin areas, and recently for Alpha Mudlogging and Advanced Geological Services in the Barnett Shale play of North Texas. Positions include wellsite consulting as well as mudlogging. Max uses Landmark, Petrel, Petra, Drillinginfo and a variety of geoscience application to integrate data to comprehensive, consistent interpretations. Max has work on reserves evaluations, exploration assessments, reservoir characterization studies, property valuations, equity determinations, and data room projects. He has extensive experience in probabilistic resource estimation and risk analysis and frequently evaluates prospects individually and at the play or company portfolio level. Max has frequently worked with direct5o hydrocarbon indicators, including Digital Spectral Satellite Imaging (micro-seepage) techniques.