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
June 5, 2013 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (
www.treatyenergy.com), a growth-oriented international energy company, announced today the results of the recently completed
Mitchell #3 well in
Tuscola, Texas and provided an update on the
Mitchell #4 well and the Standard Lease operations.
May 21, 2013, the
Mitchell #3 was put into full production and is producing consistently between 25 to 30 barrels of oil per day (BOPD).
Mitchell #3 concluded swabbing operations on
May 13, 2013 and was assigned an initial production (IP) rate of 53 BOPD. As of
June 4, 2013 the tank reading on
Mitchell #3 is approximately, 19' 8" or 394 barrels of oil.
June 4, 2013,
Mitchell #4 was perforated and acidized. The well is currently undergoing swabbing operations. On
May 11, 2013, the
Mitchell #4 was cemented and cased. Over the next week, Treaty Energy will continue to swab and test the well. Once swabbing concludes, Treaty Energy will immediately place the well into production with a pump jack already in position over the wellhead.
In order to determine the most efficient and best perforation zone, Treaty Energy held off on well completion until the results of
Mitchell #3 had been analyzed. Treaty Energy believes that
Mitchell #4 well will be similar to or marginally better than
Mitchell #3 based upon initial geology reports.
Similar protocols will be used to determine the flow rate of
Mitchell #4. After initial production rates have subsided, Treaty Energy will monitor
Mitchell #4 and will subsequently release stabilized production rates to shareholders.
The rework on the Standard Lease is approximately two weeks behind schedule, due to the loss of an immediate family member of Treaty Energy's main operations manager on the project. Treaty Energy sends its condolences to the family affected by the tragic loss. Treaty Energy will resume operations on the Standard Lease next week.