Treaty Energy Corp. (fka TECO)

[Belize Oilwatch]

Two factual updates from Belize today.

[1] The March 2014 concession map of Belize shows that concession holders Princess Petroleum have relinquished another 500,000 acres of their concession offshore. Leaving them with 1,000,000 acres (200,000 of which is onshore).

Belize Concession Map 2014

The Belize Operations page on Treaty Energy Corporation website does not reflect this fact or the ones I have reported to you previously, that:
(a) Treaty no longer has any representative in Belize
(b) Treaty's partnership rights to explore Princess Petroleum's acreage in Belize lapsed on 31st January 2014. [Formerly Treaty Energy Belize operated this concession on behalf of the Princess Petroleum / Treaty Energy Corporation joint venture established in the Option Agreement dated April 20th 2010]
(c) The status of the three wells drilled by Treaty. Princess Petroleum have advised that the three wells drilled by Treaty in Belize have all been plugged and abandoned. My visit to the wellsites (with photos shared here earlier) showed that San Juan 3 was plugged and abandoned recently, that San Juan 1 was plugged and abandoned some time ago and that San Juan 2 may or may not be plugged and abandoned.

[2] A non-commercial oil find in Northern Belize was announced on Wednesday March 26th by the Prime Minister of Belize but not yet by the concession holder Maranco. Subsequent newspaper articles revealed poor rock quality, low API oil and poor test flowrates.

Channel 7 News Report Wednesday March 26th

Guardian Newspaper Report (published by UDP Government Political Party on Thursday March 27th)

Amandala Newspaper Report (published on Friday March 28th)

Cheers
Belize Oilwatch

Just facts from Belize