This Day On The Street
Continue to site
ADVERTISEMENT
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 Signs Farmout Agreement With Aquinas Energy Resources

NEW ORLEANS, May 22, 2014 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) ( http://www.treatyenergy.com), a growth-oriented international energy company, today announced that the company has signed an agreement for a four well farmout drilling program with Aquinas Energy Resources, Inc. on the Belle Wisdom lease in Brazoria County, Texas.

Treaty Energy Corporation logo

Chris D. Tesarski, Executive Chairman of Treaty Energy, is pleased to announce that Andrew V. Reid, Treaty Energy's CEO, has signed a farmout agreement with Aquinas Energy Resources, Inc., a Houston-based oil and gas company.  Texas Sands Resources will be the operator of the project and will be applying for the first drilling permit based on a location that will be chosen by the company in conjunction with technical guidance from Aquinas' Geologist, Bill Gaskin.  Prior to drilling, Aquinas Energy will be providing Treaty Energy and Texas Sands Resources with Seismic data for management's review to ensure that the wells provide the maximum return on investment at the lowest risk possible.

This initial agreement covers four well locations on the Belle Wisdom Lease located approximately 45 miles southwest of Houston in Brazoria County, just outside of Damon, Texas. The lease is geologically positioned in the Damon Salt Dome area.

The four wells are expected to be drilled into the Marge and Frio Attic pay zones and will range from 4,000ft to 5,000ft in depth.  Based on historic well production data, anticipated initial production rates on these wells could yield at least 100 BOPD per well.  According to geological data, there are more than 440,000 barrels of recoverable reserves on the Belle Wisdom lease.

1 of 3

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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs