Finally, Mr. Reid stated, "I am very pleased with the well as it is which will produce approximately $11,000 per day net of royalties, or more than $4 million per year, at the current level of production."
Mr. Reid added, "Treaty feels that the original estimated levels of production after re-completion were likely underestimated by a considerable amount and will complete that portion of this project once the well can be safely re-entered. Further progress on this well and others to be reworked or newly drilled on our new leases in Shelby County Texas will be released as developments occur."
About Treaty Energy CorporationTreaty, 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.
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 firstname.lastname@example.org SOURCE Treaty Energy Corporation