Treaty Energy Corp. (fka TECO)

[tdbowieknife]

No... Treaty could have simply 8-K'd the info as they would have been required to do and they didn't... If they would have meet these deadlines one would think we would have heard about it... Times up.

Item 1.01 - Entry into a Material Definitive Agreement.

Treaty Energy Corporation (the “Company”) has negotiated a Trust Agreement (the “Agreement”) with ALBERTACO, an oil and gas company in Calgary (Canada). Under the Agreement, ALBERTACO has committed to sell to the Company (i) a 25% working interest in properties in the Grouard/Roussard/Peace River Arch area designated “PR LANDS” and (ii) the right to participate in two (2) separate Farm-Out Agreements for a total cost of $250,000 (CDN). While not executed (because of the death of a family member of one of signatories), the transaction is believed by management to be “probable” to occur.

Because the Company does not currently have the resources available to pay for the PR LANDS interest, ALBERTACO has agreed to hold this interest in trust and loan the Company its share of the revenue proceeds from the PR Lands interest, at a minimum of C$10,000 and a maximum of C$15,000 per month dependent on commodity pricing, for the next six (6) months.

If the Company is able to fulfill the terms of at least one of the Farm-Out Agreements by August 31, 2015 and/or both by October 31, 2015, then the Company can exercise its right to purchase for $250,000 (CDN) maximum the PR LANDS interest--which is projected to produce approximately 25 BPD of oil, gas and natural gas liquids--and to participate in the two (2) Farm-Out Agreements, the combined production of which is projected to be approximately 200 BPD of oil, gas and natural gas liquids.

If the Company is unable to fulfill the terms either of the two (2) Farm-Out Agreements by October 31, 2015, then the Company would be required to pay ALBERTACO $250,000 (CDN) plus any funds advanced to the Company in order to purchase the PR LANDS interest and to participate in the two (2) Farm-Out Agreements. Alternatively, the Company continues to retain the right to decline the purchase of the PR LANDS interest and Farm-Out Agreements at any time, in which event it would be required to repay ALBERTACO whatever funds it has advanced, including interest at an annual rate of 12.5%, by December 31, 2015.