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I said tomorrow but glad you found out and confirmed what I said. So next week we should have something. Let's go guys, this is your last chance for cheap shares. Go TECO.
I have noticed there has been very little short selling in TECO in the past week. Now these guys are smart traders which tells me they know something.
Go TECO.
Yes it will be great next week as we will finally have something positive to feel good about. Nothing but smooth sailing from here.
Go TECO.
I believe Teco will post pictures of Texas drilling when they complete the 1st well. This should be the middle of next week. So only a short period of time for the naysayers to get their digs in and then it will be so long it has been good to know you.
Go TECO.
Teco's letter said that they will be producing oil in Belize in June so I do not need a daily weather report until June. So this gives investors 3 more weeks to get in cheap unless Texas drilling spikes us to .07. Which is OK because I am tapped out and do not need any more stock.
Go TECO.
Yes you know when to go. Drilling starts tomorrow and be careful not to get any oil on your clothing though boots are ok. Will you be taking pictures for us to see? Thanks again.
My green is for money.
Go TECO
Looks like we have hit the high of the day. Just hope the bid does not go below .045. Go TECO.
Running - I added 46K this morning at .044. This is definately my last buy. I will relax and start selling at .60.
Go TECO.
Surprise. The pps is going up. Buying does this not selling. You can be my guest in Belize when they start producing oil in Belize and the pps goes over 30 cents.
Go TECO.
Many here are looking for answers and refuse to call the company.
If this is the case then call or sell and move on. Teco will survive big time no matter what the naysayers post. We did not accumulate all these concessions and equipment for fun. Those who do not believe and those that post negative for their own agenda will soon wish they own TECO. Bookmark this post and see what happens in 4 weeks or possibly sooner. Long and strong.
Go TECO.
Nobody says it is viable for Belize. We are talking TEXAS. No fracking is needed in Belize. Go TECO.
I appreciate your expertise though your post was not too clear.
Still all in all, I believe in TECO and it still is a beautiful rig even though you think it is there for appearances. Shame that TECO wasted their time and money on a rig that is useless, even though it is a beautiful rig. Maybe a few minor adjustments and it will be able to drill for oil. What do you think?
Go TECO.
They are not done. 293,400 shares on the ask at .045. There is no stopping them.
Someone just sold/bought 700 shares at .0445. Total is less than $32. We will bounce back to .05 today.
Bull - When are you going to TEXAS?? Thanks.
Go TECO.
Yes, all the way. Over 2 mil long and strong. If I had money I would be buying more. Go TECO.
That is fine. Just proves that there is oil so they would not lose the concessions. So what is your point??
Go TECO.
Just traded at .057. Go Teco
In the pictures with the new rig there is a large platform that the big rig will be on for support so they can drill. That base is soon to be enroute if it is not already. Then the fun begins.
GO TECO.
Drilling to start this week and when you get there you will be right in the middle of the drill. Hope you feel better and will wait for your good report. I agree, good time to buy today.
Go TECO.
When are you going to TEXAS?
.055 is doable today.. GO TECO.
Sorry. I found out no drilling in Belize. Still weeks away. Go Teco.
Those photos say drilling in Belize dated 5/5. I take that as they are drilling right now in Belize. Anyone agree or disagree with me? Go Teco.
True. But most houses do not produce 1000 bopd combined. I agree no big deal and that is why they can get all the financing they want. Teco is on its way. I agree, 25 cents by the end of June.
Go TECO.
Not in the world. You mean in North America. Please make note of that. Go TECO.
News is out.
FYI.... This News Release from Treaty Energy Corporation was distributed at 9:40 AM-ET today and is provided here for your convenience. Treaty Energy is an International Oil & Gas Company with Oil Production Assets in Texas and Belize, Central America!
For Quote on TECO go to: http://www.otcmarkets.com/stock/TECO/quote
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Treaty Energy Corporation Completes Funding for Nine-Well Drilling Program in Texas
Treaty’s 9-Well Drilling Program Adds to its Already Scheduled 12-Well Drilling Program on its Wooldridge Leases – Company Acquires Wilson Mogul 42 S/D Drilling Rig, Capable of 7,500 Ft Depths, to Drill the 9-Well Program
NEW ORLEANS, May 7, 2012 -- Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a growth-oriented international energy company, announced a prior funding commitment for 5-Wells of 2,600 to 3,000 ft depth on its existing leases in Texas was extended to fund the full 9-Well Drilling Program.
Bruce Gwyn, Co-CEO of Treaty Energy Corporation, stated, “Treaty Energy Corporation completed the funding for their 9-well drilling program on existing leaseholds. The total amount of this project, which has now been fully funded, is $1,450,000. The first 5 of the 9-well program had previously been secured and the same investor group came back to complete the funding for the entire program. These 9-wells will be drilled to depths of 2,600 ft. to 3,000 ft. with expected oil production flow rates of up to 100 BOPD per well. Now both the 9-well and 12-well programs are completely funded.”
Mr. Gwyn added, “Treaty Energy has been looking for a larger Rig for its deeper drilling needs on the Texas leases. We are pleased to announce that we have purchased a Wilson Mogul 42 S/D Drilling Rig capable of drilling to 7,500ft. The new Wilson Mogul Rig will be used to drill all of the wells on the 9-Well Program. (Pictures of the new Wilson Mogul Rig can be viewed on Facebook (https://www.facebook.com/pages/Treaty-Energy-Corporation/138620389562521) and the company’s website: (http://www.treatyenergy.com/files/wilsonrig.htm).”
Stephen L. York, COO of Treaty Energy, stated, “With all of the additional parts and support equipment that Treaty Energy has acquired to fully outfit the Wilson Mogul 42 S/D Drilling Rig, this Rig has an estimated value of $800,000. Treaty now has 2 rigs on site in Texas which gives us the capability to drill both projects simultaneously. Once these projects are completed and producing, Treaty plans on setting up a drilling program for the Ellenberger zone on several of our existing lease. The Ellenberger is one of the most prolific oil producing zones in Texas history. With drilling starting almost immediately, Treaty will endeavor to fulfill its goal of 1,000 barrels of oil per day in Texas, as stated in prior news releases.”
Mr. Gwyn added further “With these two drilling programs fully funded and the proper drilling rigs secured for both projects, along with the drilling program in Belize, the next few months will be very exciting times at Treaty Energy.”
About Treaty Energy Corporation
Treaty, an international energy company, is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have “proven but undeveloped reserves” at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.
Forward-Looking Statements:
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company’s filings with the Securities and Exchange Commission, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
Contact:
Osprey Partners
Tel: 732-292-0982
Fax: 732-528-9065
osprey57@optonline.net
~~~~~~~~~~~~~~~~~~~~~~
Why does everyone need reminding of what they have said about drilling oil in Belize. Here it is again from their letter.
One difference Treaty has relative to some comparables mentioned, is that we have found oil in Belize which will come online in June and our cost structure is much lower as we own all our own equipment. In formulating this comparison we are not even taking into consideration the tremendous upside that Belize can bring.
I don't think you know the answer yourself. Now if you say in North America I can say 2nd because I have the same info you have. But in the world? Come on. Big mistake on your part though you mean well. Still this is big even being 2nd in North America.
Go TECO.
So are you really calling the company liars?? Please reply. TECO does not lie.
All your questions will soon be answered but you need to be just a little patient. I invite you to join us in Belize when they begin to announce oil production. We can all share in what a great company Treaty is. Just think of the shareholders that will make tons of money. I want you to share in this joy with us.
Go TECO.
Put this in your pipe and smoke it.
Now move to Treaty Energy today. We will be drilling in Texas with anticipated production numbers that looks similar if now a bit higher than some we researched after completion of our 12 well project on the Wooldridge lease. That will bring our production up from about 55 BOPD to an estimated 190-250 BOPD. Companies we looked at made a bottom in their stock price before their production exploded when their market cap was under 40 million, while Treaty is now just less than 38 million cap. One difference Treaty has relative to some comparables mentioned, is that we have found oil in Belize which will come online in June and our cost structure is much lower as we own all our own equipment. In formulating this comparison we are not even taking into consideration the tremendous upside that Belize can bring.
Yes he is busy. Sounds like you have a problem with that?
Go TECO.
They have not yet started drilling Texas. He will be there when they begin. Should be any day not. Go TECO.
Market makers putting up a big wall of resistance. Soon with news we will break thru and go to .06 with the following news I would like to see. They need to announce drilling in Texas has begun, the status of the big rig that will do the deep drilling in Texas and when, same for the rig in Belize and update the drilling date. And to let us know of any new equipment that has been acquired. I think some/all of what I just said will happen soon.
Go TECO.
Out of the ground.
I want to see Texas drilling next week and also there will be a PR stating newly acquired assets that will be very impressive for the drilling of oil both in Texas and Belize. If you are up to date with me you can certainly agree. Some day we can meet in Belize and I will be looking forward to that. As Lee said everything is now in place and now it is drill baby drill. I do not like Sarah. Go TECO.
Yes the market makers are fighting hard to suppress the pps for fear that they may have to buy their shorted stock. Won't be long and we will win this fight with huge gains. Again go TECO.
Do you really need the 10K though it will be out soon afer reading Teco's letter. Teco is huge. Go TECO.
Letter on FACEBOOK today.
Looking at Treaty thru Year End
By Lee Schlesinger
All one has to do is look back to some companies that looked eerily similar to Treaty today, to understand the explosive growth potential that lies in front of us. We found an example of this in a company that now has a two billion dollar market cap commanding 50x multiple. This took place in a 2 year time frame starting at a point where Treaty is today. I believe that we are poised for growth on a comparable basis. When I looked back at this company at the end of 2009, the stock was as low as $0.19 and their production was under 170 BOPD.
Now move to Treaty Energy today. We will be drilling in Texas with anticipated production numbers that looks similar if now a bit higher than some we researched after completion of our 12 well project on the Wooldridge lease. That will bring our production up from about 55 BOPD to an estimated 190-250 BOPD. Companies we looked at made a bottom in their stock price before their production exploded when their market cap was under 40 million, while Treaty is now just less than 38 million cap. One difference Treaty has relative to some comparables mentioned, is that we have found oil in Belize which will come online in June and our cost structure is much lower as we own all our own equipment. In formulating this comparison we are not even taking into consideration the tremendous upside that Belize can bring.
Now, move forward a few months to mid-July when Treaty starts to drill the 9 well project. At these depths, we estimate our wells will come on at initial production rates of between 30-150 BOPD per well. Taking a fairly conservative yet realistic goal of 50 BOPD per well, Treaty’s production should be around 700 BOPD a day. We believe that oil prices will stay around $100.00 a barrel and this coming to fruition along with Treaty’s steady increase in US production to around 1000 BOPD.
Treaty’s net income estimated at $10,222,000 on $25,000,000 of gross sales would earn a penny and a half even if production stayed flat without any increase (which is not happening) on 700 BOPD. Now understanding that the growth starts to ramp up dramatically at these levels, the street would have to look at Treaty in a similar light as companies with comparable growth .The street is now giving such growth stories as much as a trailing 12 month P/E of 50 for 2011 EPS. Given the same multiple, Treaty’s EPS of $0.015 would give us a $0.75 cent stock. Below are charts of a company that was in a similar situation in 2009 as Treaty is now and a chart of TECO.
Treaty will still have hundreds of drill sites available on their current leaseholds. After the 9 well project is completed, production levels will be above 1000 BOPD giving them net income of around $16,000,000. Earnings per share would be $0.02 and the stock should be around a Dollar given similar circumstances. Again, Treaty has hundreds of drill sites available on current leaseholds, keeping cost down by owning all of their own equipment and having a significant oil find in Belize that are not even in these numbers at all. This sets the stage for growth on a year over year basis to be staggering!!
All of our current drilling programs of 12 shallow wells and 9 deep wells have been funded. The estimated drilling costs of these projects are around $2,200,000 and have been secured. It seems that a lot of the hard work is behind Treaty Energy Corporation and we are ready to move to the next level in the very near future.