This Day On The Street
Continue to site
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

Treaty Energy Corporation Reports Fiscal 2011 Year-End Results

NEW ORLEANS, June 13, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (, an international energy company, today reported fiscal results for the year ended December 31, 2011.

Revenue for the twelve months ended December 31, 2011 increased to $116,241 from $448 in the same period a year earlier.  These revenues are from nominal oil production from certain of the company's leases in Texas. 

Net loss for the twelve months of 2011 was $7,209,970, or $(0.01) per diluted share, an increase of $6,440,291, from a net loss of $769,679, or nil per diluted share, for the comparable period in 2010.

Stockholders' Deficit made an improvement of $767,583 to a negative $463,785, from a negative of $1,231,368 at December 31, 2010. 

Other 2011 Financial Highlights:
  • Total Assets increased to $1.84 million at December 31, 2011, an increase of 625% from $254 thousand a year earlier.
  • Additional Paid In Capital increased to $8.73 million at December 31, 2011, an increase of 1,556% from $527 thousand a year earlier.
  • Net Oil & Gas Properties increased to $1.17 million at December 31, 2011, an increase of 363% from $252 thousand a year earlier.
  • The Company secured a funding commitment of $700,000 in December 2011 for a 12-Well Drilling Program (500 – 600 ft wells) on the Wooldridge leases in Texas, and recently increased the funding commitment by $1,450,000 to a total of $2,150,000 to now include an additional 9-Well Drilling Program (2,300 – 3,000 ft wells). 

Operational and Other 2011 Highlights:
  • On April 1, 2011 Treaty Energy announced it has purchased C&C Petroleum Management LLC, an Indiana company, with oil and gas properties in the Fertile Texas 7B Oil District. This was the beginning of the building of the Company's Texas oil field operations that now includes fifteen leases over 2,200 acres.
  • On April 12, 2011 Treaty Energy announced the purchase of additional producing oil and gas leases in the Shackelford County Regular Field, in the Texas 7B Oil District.
  • On Aril 20, 2011 Treaty Energy announced it has acquired two additional leases in Texas, the Shotwell W. F. and the Shotwell "C" leases.
  • On May 3, 2011 Treaty Energy announced the formation of Treaty Belize Energy, Ltd, a Belizean corporation, to handle all of Treaty's business activities in Belize.
  • On May 11, 2011 Treaty Energy announced that it has established Treaty Energy Drilling, LLC, a Texas company, as a wholly-owned subsidiary.  Treaty Energy Drilling, LLC will be drilling wells for independent operators and begin drilling wells for Treaty's newly acquired oil leases in Texas and Belize.
  • On May 23, 2011 Treaty Energy announced that it acquired eight oil & gas leases in Texas, referred to as the "Great-8 Leases", adding another 1,347 acres to Texas lease holdings.  With these new leases, Treaty had 1,787 acres under lease in Texas that are spread over 13 leases. 
  • On August 31, 2011 Treaty Energy announced it has purchased the Mach H. Wooldridge and Eula E. Wooldridge oil & gas leases located in Shackelford County, Texas.  The addition of these two leases brings our Texas holdings to 15 leases on 2,067 acres, and many new drilling opportunities.
  • On November 15, 2011 Treaty Energy announced the appointment of Bruce Gwyn, a Director, to Co-CEO of the Company and Lee C. Schlesinger to Director, Executive Vice President and Chief Investment Officer.
  • On September 14, 2011 representatives of the Board of Directors of the Treaty Charitable Trust, the philanthropic division of Treaty Energy Corporation, officially announced at a press conference at the Matalon Business Center in Belize City the establishment of the BELIZEAN NATIONAL LEADERSHIP FUND (BNLF).

Andrew V. Reid, Chairman & Co-CEO of Treaty Energy Corporation, stated, "2011 was our year of investment in the future that has positioned Treaty for growth.  As an emerging oil and gas company, we have made great progress that will assure 2012 becomes the revenues and earnings breakout year for our shareholders."

Mr. Reid added, "Treaty is moving ahead as an international oil and gas company with active drilling programs in the start up process in Texas and Belize.  We anticipate exciting progress from these programs as we move toward the end of Q2 of 2012.  We see Treaty becoming a strong, profitable revenue producing company during the last two quarters of this year and beyond."

The complete Form 10-K filing for the period ended December 31, 2011 can be viewed at the following link:

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.

Contact:Osprey PartnersTel: 732-292-0982Fax: 732-528-9065


1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.52 2.00%
FB $117.76 -0.68%
GOOG $695.63 -0.37%
TSLA $233.03 -3.60%
YHOO $36.09 -1.20%


Chart of I:DJI
DOW 17,741.91 -149.25 -0.83%
S&P 500 2,064.91 -16.52 -0.79%
NASDAQ 4,775.3820 -42.2120 -0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs