NEW ORLEANS, March 11, 2014 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) ( http://www.treatyenergy.com), a growth-oriented international energy company, today announced it has retained Inspire Energy Services ( www.inspireenergyservices.com) effective March 10, 2014 to conduct a full review of the Company's oil and gas operations and assets to further develop and enhance the Company's on-going oil and gas strategy.
Inspire is a group of petroleum engineers and business development experts who advise small public and private companies seeking investment in operated and non-operated oil and gas exploration. The consultants review reserves and recommend reserve value, property acquisition and financing strategy as well as direct operational efficiency. Inspire Energy Services advocates to management framing in reasonable stock price targets and works to disseminate that information through the management to the Company's current and potential investors.
In early March, Inspire representatives conducted an initial review of the Company's assets and recommended a test through March 9 th of the Gray Sand on the Stockton #2 well. The Company, in conjunction with the recommendations from Inspire, installed a new pump jack on the Stockton #2 well. The Gray Sand zone produced signs of oil production; however Inspire believes that based on geological data that the upper zone in the Gardner Limestone will yield greater production potential. The Stockton #2 well yielded promising returns on its initial test.
The petroleum engineer and spokesman for Inspire evaluating Treaty Energy's assets with Inspire informs, "It is important to spend a reasonable amount of time doing longer less time-sensitive production tests before making long-term investment plans. Direct off-set wells to the Stockton #2 well have been consistent producers at fairly low water cuts. The Mitchell #3 and #4, located on the lease next door, were evidence of this consistent high-yield production." The Stockton #3, which was drilled immediately after the Stockton #2, remains uncompleted.