Treaty Energy Corp. (fka TECO)

[tdbowieknife]

This was all more Treaty lies...

Turns out the February 14th "Newsletter" about the McComas Hearing was complete bullshit just as suspected...

The only thing true was that Sean Douglas and a lawyer was at the hearing and apparently didn't have a clue. The hearing was for Treaty to show cause of a good faith claim to having a valid lease on the McComas. Treaty tried to claim they had a lease and wanted to transfer it to another entity. The McComas landowner said otherwise and proved they did not. People attending said both Douglas and Treaty's lawyer were disaster representatives and were ill prepared. There was nothing in the hearing about the Barnes lease said and there was NO AGREEMENT with anybody.

C&C Petroleum Management and RRC Issues:
Over the last 48 hours, several questions regarding C&C Petroleum Managements operations have been raised. These questions have led to increased investor concern. On February 13, 2014, the Railroad Commission of Texas held a hearing to determine the validity of a “Good Faith Claim” on the McComas -A- lease near Abilene, Texas. A representative and attorney for Treaty Energy Corporation/C&C Petroleum Management attended the hearing.

Over the last several months, C&C Petroleum Management has been receiving numerous fines and plugging notices on leases whose ownership interest was transferred to Heritage Oil and Gas. However, Heritage Oil and Gas failed to transfer its P-5 Operator status onto three leases, leaving C&C Petroleum with the liabilities on the lease. To complicate matters further, Heritage Oil and Gas took out a leveraged lien on these leases as collateral leading to a very complicated ownership question that required the Railroad Commission to answer.

On Thursday morning, the Railroad Commission and the landowner confirmed that the ownership interest that Heritage Oil and Gas owned on the lease was no longer valid and third party questions regarding legal ownership were answered. Treaty Energy Corporation has entered into an agreement with the landowner to plug the wells within 120 days. In addition, the Company worked out a deal with a plugging operator to begin the operation as soon as possible. These plugging arrangements are also tied to the P.H. Barnes lease as well, which has turned into a very positive outcome for the Company. This action will officially resolve all legal problems with C&C Petroleum and the Railroad Commission of Texas once the leases are plugged.

In the process of clarifying the leases ownership interest, there were some necessary regulatory sanctions placed on the Company. These sanctions, such as the”639 operating suspension” were all expected and were unfortunately necessary in order to resolve these ownership issues. Once the P.H. Barnes lease and McComas leases are fully plugged, C&C Petroleum Management and Treaty Energy Corporation will be in full compliance of all regulatory statutes and any and all liabilities or operational issues will have been resolved. Treaty Energy has been working on this issue with legal counsel for the last three to four months and is relieved to have it confirmed by the Railroad Commission of Texas.

These issues have little to no impact on current operations in Texas. As explained several times before to investors, C&C Petroleum Management’s compliance issues do not hinder operations because of the new operating structure that Treaty Energy Corporation initiated last year which does not rely upon C&C Petroleum’s operator status.

Looks like Treaty lied again and will not be compliant until they can get past all the plugging and damage issues on both the Barnes and McComas leases.

Next to little to nothing ever turns out to be true when it come to Treaty. Treaty's nothing but a bullshitting share selling scam and will say anything to keep investors on the hook...

As of 8-20-2014 none of the claims by Treaty of any sort of compliance with the TRRC have been even remotely true.

It is now a FACT that the State of Texas has plugged all 8 wells on the McComas lease including the well #20 that Treaty drilled and used as PR fodder to fraudulently sell shares.

Investors should be furious with all the misleading information and down right lies by Treaty Energy...


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