July 10, 2012
/PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (
), a growth-oriented international energy company, today announced an update on progress on the
#2 Well in
, Treaty's Director of Operations in
, stated, "The
#2 well was cased and cemented in on Friday, July 6th. After allowing 24 hours cure time on the cement the well was checked for the cement bond and then the well was case-hole logged."
Mr. Mohamed added, "On
Monday July 9th
I met with the GOB Geology Department to present and discuss the well logs, and I am pleased to report that the GOB is in agreement that the log shows three zones of interest, one each at 500 ft, 850 ft and 1200 ft. Based on these findings the GOB has given permission to perforate, acidize, and test the well for production."
Mr. Mohamed concluded, "This is a tremendous day for all involved: the GOB and their people; Princess Petroleum, Ltd; and Treaty Energy."
About Treaty Energy Corporation
Treaty, an international energy company, is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have "proven but undeveloped reserves" at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.
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.
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SOURCE Treaty Energy Corporation